Lapsing of Awards. An Award will lapse upon the earlier to occur of:
(a) an unauthorised dealing in, or hedging of, the Award occurring, as governed by Rule 6.3(c);
(b) a Vesting Condition in relation to the Award is not satisfied by the due date, or becomes incapable of satisfaction, as determined by the Board in its absolute discretion, unless the Board exercises its discretion to waive the Vesting Condition and vest the Award under Rule 7.2 (Vesting Condition Exceptions) or Rule 10.1(c)(ii) applies;
(c) in respect of an unvested Award only, a Relevant Person ceases to be an Eligible Participant, unless the Board:
(i) exercises its discretion to vest the Award under Rule 7.2 (Vesting Condition Exceptions); or
(ii) in its absolute discretion, resolves to allow the unvested Award to remain unvested after the Relevant Person ceases to be an Eligible Participant;
(d) in respect of a vested Award only, a Relevant Person ceases to be an Eligible Participant and, where required by the Board in its absolute discretion, the vested Performance Right is not exercised within a one
(1) month period (or such other period as the Board determines) as notified by the Board to the Participant after the date the Relevant Person ceases to be an Eligible Participant;
(e) the Board deems that an Award lapses due to fraud, dishonesty or other improper behaviour of the holder/Eligible Participant under Rule 10.2 (Fraud and Related Matters);
(f) the Company undergoes a Change of Control or a winding up resolution or order is made, and the Award does not vest in accordance with Rule 7.2 (Vesting Condition Exceptions); and
(g) the Expiry Date of the Award.
