Regulation 9 - Non-transferability.

Non-transferability of employee share benefits prevents assignment; vesting continues on death, incapacity, transfer, or retirement.

Non-transferability prohibits assignment, pledge or other alienation of options, SARs or other benefits and limits entitlement to the grantee alone; companies or trustees may fund exercise costs and taxes for ESOS/SARs recoverable from sale proceeds. On death in service, granted benefits vest in legal heirs or nominees from the date of death; on permanent incapacity vested benefits vest in the employee that day. Unvested benefits expire on resignation or termination while vested benefits may be retained per compensation committee terms; retirement permits continued vesting per schedule. Vesting and exercise continue on transfer to an associate or under corporate reorganisation with non-prejudicial treatment.