QuickFee : Performance Rights and Option Plan

For personal use only

QUICKFEE LIMITED ACN 624 448 693 (Company)

PERFORMANCE RIGHTS AND OPTION PLAN

Approved by Shareholders on 21 December 2021

4735-01/1987440_1

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For personal use only

TABLE OF CONTENTS

1.	DEFINITIONS AND INTERPRETATION .................................................................................	5
	1.1	Definitions..............................................................................................................	5
	1.2	Interpretation........................................................................................................	9
2.	PURPOSE	.........................................................................................................................	10
3.	COMMENCEMENT AND TERM........................................................................................	10
4.	OFFER OF AWARDS.........................................................................................................	10
	4.1	Offer.....................................................................................................................	10
	4.2	Offer Document.................................................................................................	11
	4.3	Personal Offer .....................................................................................................	11
	4.4	Nominee..............................................................................................................	11
	4.5	Minimum Contents of Offer Document ..........................................................	11
	4.6	Number of Awards.............................................................................................	12
	4.7	Consideration .....................................................................................................	12
	4.8	Option Exercise Price.........................................................................................	12
	4.9	Vesting Conditions .............................................................................................	12
	4.10	Share Restriction Period.....................................................................................	12
	4.11	Deferred Taxation ..............................................................................................	12
	4.12	Quotation of Awards.........................................................................................	12
	4.13	Limit on Offers .....................................................................................................	13
5.	ACCEPTANCE OF OFFER ................................................................................................	13
	5.1	Acceptance of Offer ........................................................................................	13
	5.2	Board's right to reject ........................................................................................	13
	5.3	Participant Agrees to be Bound ......................................................................	13
	5.4	Lapse of Offer.....................................................................................................	13
6.	GRANT OF AWARDS .......................................................................................................	14
	6.1	Grant of Awards.................................................................................................	14
	6.2	Approvals ............................................................................................................	14
	6.3	Restrictions on Transfers, Dealings and Hedging ...........................................	14
7.	VESTING AND EXERCISE OF AWARDS............................................................................	14
	7.1	Vesting Conditions .............................................................................................	14
	7.2	Vesting Condition Exceptions...........................................................................	15
	7.3	Exercise on Vesting ............................................................................................	15
	7.4	Cashless Exercise Facility...................................................................................	15
	7.5	One or Several Parcels ......................................................................................	16
8.	ISSUE OF SHARES ............................................................................................................	16
	8.1	Issue of Shares.....................................................................................................	16
	8.2	Blackout Period, Takeover Restrictions and Insider Trading .........................	17
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	8.3	Withholding.........................................................................................................	17
	8.4	Rights attaching to Shares ................................................................................	17
	8.5	Share ranking......................................................................................................	17
	8.6	Quotation on ASX ..............................................................................................	17
	8.7	Sale of Shares .....................................................................................................	17
9.	RESTRICTION ON DEALING IN SHARES...........................................................................	18
	9.1	Restriction Period................................................................................................	18
	9.2	Waiver of Restriction Period..............................................................................	18
	9.3	No disposal of Restricted Shares ......................................................................	18
	9.4	ASX Imposed Escrow .........................................................................................	18
	9.5	Enforcement of Restriction Period ...................................................................	18
	9.6	Lapse of Restriction Period................................................................................	19
10.	LAPSE OF AWARDS .........................................................................................................	19
	10.1	Lapsing of Awards..............................................................................................	19
	10.2	Fraud and Related Matters ..............................................................................	20
11. EXCHANGE DUE TO CHANGE OF CONTROL.................................................................	20
12. PARTICIPATION RIGHTS AND REORGANISATIONS ........................................................	21
	12.1	Participation Rights ............................................................................................	21
	12.2	Adjustment for Reorganisation.........................................................................	21
	12.3	Notice of Adjustments .......................................................................................	21
	12.4	Cumulative Adjustments ...................................................................................	21
13. OVERRIDING RESTRICTIONS ON ISSUE AND EXERCISE..................................................	21
14.	AMENDMENTS ................................................................................................................	22
	14.1	Power to amend Plan........................................................................................	22
	14.2	Adjustment to Award Terms .............................................................................	22
	14.3	Notice of amendment ......................................................................................	22
15.	TRUST...............................................................................................................................	22
16.	MISCELLANEOUS ............................................................................................................	23
	16.1	Rights and obligations of Participant ..............................................................	23
	16.2	Power of the Board............................................................................................	24
	16.3	Dispute or disagreement ..................................................................................	24
	16.4	ASIC relief ............................................................................................................	24
	16.5	Non-residents of Australia .................................................................................	24
	16.6	Communication .................................................................................................	25
	16.7	Attorney...............................................................................................................	25
	16.8	Costs and Expenses ...........................................................................................	26
	16.9	Adverse Tax.........................................................................................................	26
	16.10	Data protection .................................................................................................	26
	16.11	Error in Allocation ...............................................................................................	26
	16.12	No fiduciary capacity .......................................................................................	26

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16.13	ASX Listing Rules..................................................................................................	27
16.14	Enforcement .......................................................................................................	27
16.15	Laws governing Plan..........................................................................................	27
SCHEDULE 1	- PERFORMANCE RIGHTS AND OPTIONS PLAN - OFFER DOCUMENT .................	28
SCHEDULE 2	- PERFORMANCE RIGHTS AND OPTIONS PLAN - ACCEPTANCE FORM ..............	31
SCHEDULE 3	- NOTICE OF EXERCISE OF AWARDS....................................................................	33

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QUICKFEE LIMITED

PERFORMANCE RIGHTS AND OPTIONS PLAN

1. DEFINITIONS AND INTERPRETATION

1.1 Definitions

For the purposes of the Plan, the following words have the following meanings.

Acceptance Form means the Acceptance Form by which an Eligible Participant or Nominee (as applicable) accepts an Offer for an Award, in substantially the same form as set out in Schedule 2, as the context requires, or as otherwise approved by the Company from time to time.

ASIC means the Australian Securities and Investments Commission.

Associated Body Corporate means:

1. a related body corporate (as defined in the Corporations Act) of the Company;
2. a body corporate which has an entitlement to not less than 20% of the voting Shares of the Company; and
3. a body corporate in which the Company has an entitlement to not less than 20% of the voting shares.

ASX means ASX Limited (ACN 008 624 691) or the Australian Securities Exchange, as the context requires.

ASX Listing Rules means the official Listing Rules of the ASX as they apply to the Company from time to time.

Award means Options or Performance Rights, as the context requires, granted under this Plan.

Blackout Period means a period when the Participant is prohibited from trading in the Company's securities by the Company's written policies.

Board means the board of Directors of the Company or committee appointed by the Board for the purposes of the Plan.

Business Day means a day on which banks are open for general banking business in Western Australia, excluding Saturdays, Sundays and public holidays in Western Australia.

Change of Control means:

1. a bona fide Takeover Bid is declared unconditional and the bidder has acquired a Relevant Interest in at least 50.1% of the Company's issued Shares;
2. a court approves, under Section 411(4)(b) of the Corporations Act, a proposed compromise or arrangement for the purposes of, or in

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