REMUNERATION REPORT Continued Cessation of employment, clawback or change of control If an individual Participants leaving employment during the performance year are generally not eligible to receive an award ceases under the STI. In certain circumstances (such as redundancy), the Board may consider eligibility for a pro rata employment payment. during the performance year, will they receive a payment? Does a The STI Plan allows the Board to take any steps that it determines appropriate to recover from the individual ‘clawback’ executive any STI reward that was incorrectly provided as a result of a material misstatement in, or omission apply? from, the Company’s financial statements. The provision applies only to those executives who were KMP of the Company at the time the financial statements were approved by the Board and issued by the Company. How would a The Board has absolute discretion in relation to the treatment, payment or provision of STI awards on a change change of of control, which it would exercise in the best interests of the Company. The Board may also give the CEO control impact notice that the restriction period for any Restricted Shares will end if certain change of control events occur. on STI entitlements? FY2018Outcomes A detailed discussion of the FY2018STI outcomes is presented in section 4.2. The percentage of the available STI reward that was paid in the financial year, and the percentage and value that was not paid for eligible disclosed executives is set out below. Proportion Maximum Actual STI of max. Amount of STI (as % Maximum STI % paid Actual STI Total STI STI not max. STI not Name(1) of TFC) STI$ awarded (cash) deferred Awarded paid(2) paid$(2) N Chadwick(3) 60% 217,499 0.0% 100.0% 217,499 - - - M Cripsey(4) 60% 211,500 0.0% 100.0% 211,500 - - - A Sutton 60% 396,000 0.0% - - - 100.0% 396,000 Former Disclosed Executives R Umbers(5) 90% 585,000 0.0% 100.0% 585,000 - - - (1) Mr King, MrWinstanley and Mr Devonport were not eligible to participate in the FY2018 STI plan and therefore have not been included in the table. (2) Reflects the proportion and amount of the maximum STI that was forfeited due to the performance criteria not being achieved and scaling of the STI pool to account for affordability. (3) Mr Chadwick was appointed Chief Financial Officer on 29 January 2018, his STI opportunity is pro-rated based on time in role. (4) Mr Cripsey was appointed Chief Digital and Data Officer on 11 November 2015, and was promoted to KMP as the Chief Operating Officer on 29 January 2018. The figures reported in this table include only remuneration for the period in FY2018 that he was considered KMP. (5) Mr Umbers stepped down as CEO and Managing Director on 14 February 2018. As Mr Umbers was in his role for more than six months, he was eligible for an STI payment, based on the time he was acting in the role. Myer Annual Report 2018 35