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KUMPULAN FIMA BERHAD
(11817-V) |
Annual Report
2016
34. EMPLOYEE BENEFITS
Employees’ Share Scheme (“ESS”)
The ESS comprises the following:
(i)
Employee Share Option Scheme (“ESOS”);
whereby eligible employees are granted the right to
subscribe for a number of the Company shares at the prescribed subscription price subject to the terms
and conditions of the Bye-Laws. No performance targets are required to be met before the options are
granted under the ESOS.
(ii)
Restricted Share Grant Scheme (“RSGS”);
whereby the employees having a designation of general
manager and above will be granted the right to have a number of Company shares vested in them,
subject to the terms and conditions of the Bye-Laws. The RSGS requires performance targets to be met
prior to the vesting of such shares.
In implementing the RSGS, the Company has appointed a company as a trustee for the purposes of
subscribing for the new shares and transferring such shares to the entitled employees as the Options
Committee shall direct.
The eligibility criteria of the ESS are as follows:
(i) Full time employment in the Company or other company within the Group for more than one (1)
year;
(ii) A resident who is a citizen of Malaysia, non-citizen with permanent resident status or non-citizen who
holds a valid work permit in Malaysia and has entered into a full time or fixed term employment with any
Company within the Group, having the designation of Manager or above;
(iii) If the employee is working under a fixed-term contract basis, the term of contract must not be less than
two (2) years and renewal of contract must take place six (6) months before expiration; and
(iv) Fulfills such other criteria as determined by the Options Committee from time to time.
The ESS is for a period of 5 years and the Options Committee has the discretion to extend the duration of
the ESS for up to another 5 years provided that the scheme does not exceed 10 years in its entirety.