Common use of Grant of Performance Rights Clause in Contracts

Grant of Performance Rights. (a) Where an Eligible Employee has accepted an Offer to participate in a grant of Performance Rights in accordance with Rule 2.3, the Board will, subject to its discretion under Rule 2.3(d), grant Performance Rights to the Eligible Employee (or a nominee approved by the Board in accordance with Rule 2.3(b)). (b) Unless the Board determines otherwise: (i) no payment is required for the grant of a Performance Right; and (ii) Performance Rights may not be registered in any name other than that of the Eligible Employee (or a nominee approved by the Board in accordance with Rule 2.3(b)). (c) The Performance Rights will not be listed on the ASX.