REMUNERATION REPORT Continued 8. EXECUTIVE SERVICE AGREEMENTS Remuneration and other terms of employment for the CEO and other KMP are formalised in service agreements. The termination provisions for KMP, as set out in their service agreements, are described below: Termination notice period, or Termination notice period payment in lieuof notice initiated Name Contract type initiated by KMP by Company J King Rolling contract 12 months 12 months N Chadwick Rolling contract 6 months 6 months M Cripsey Rolling contract 6months 6 months A Sutton Rolling contract 3 months 6 months A Winstanley Rolling contract 6 months 6 months Former Disclosed Executives R Umbers(1) Rolling contract 6 months 12 months G Devonport(2) Rolling contract 3 months 6 months (1) Mr Umbers stepped down as KMP on 14 February 2018. (2) Mr Devonport stepped down as KMP on 28 January 2018. The agreements also provide for an executive’s participation in the STI and LTI plans subject to Board approval of their eligibility and in accordance with the terms and conditions of the respective plans. In addition, Mr Kingand Mr Winstanley have been provided with support relating to their relocations, and are entitled to the following benefits: • Coverage of costs associated with moving personal and household items,and tax services for the first year of their assignments; and • Ongoing rental assistance, health care coverage and areturn flight to and from the USA or the United Kingdom annually, and other costs related to their Australian residency. The cost to the Company in providing this support forthe year ended 28 July 2018is summarised in Section 7. 9. EQUITY The number of rights over ordinary shares in the Company held during the financial period by executive KMP of the Company, including their personally related parties, are set out below. No rights over ordinary shares are held by non-executive directors. Opening balance Granted as Exercised Lapsed Closing balance(1) compensation 2018 J King - 2,432,432 - - 2,432,432 N Chadwick - 681,818 - - 681,818 M Cripsey(2) 554,545 554,545 - - - A Sutton 834,471 600,000 (19,825) (205,175) 1,209,471 A Winstanley - 555,555 - - 555,555 Former Disclosed Executives R Umbers(3) 2,316,322 1,636,363 (295,099) (273,650) 3,383,936 G Devonport(4) 1,597,896 1,281,818 (2,021,019) 858,695 - 2017 R Umbers 1,507,879 808,443 - - 2,316,322 D Bracken 1,226,357 673,703 - - 1,900,060 G Devonport 858,695 739,201 - - 1,597,896 A Sutton 627,202 296,429 (11,145) (78,015) 834,471 (1) All vested rights are exercisable at the end of the period. (2) Mr Cripsey'sperformance rights relate to his previous role as Chief Digital & Data Officer, prior to his promotion to KMP as the Chief Operating Officer on 29 January 2018. (3) Mr Umbers stepped down as CEO and Managing Director on 14 February 2018, and is no longer considered KMP from this date. The performance rights referred to in this table held by Mr Umbers which were granted on 22 December 2016 and 21 December 2017lapsedwhen his notice period concluded on 31 July 2018. Other performance rights granted to Mr Umberswill be tested as per their original terms, and may vest if the performance targets are achieved. (4) Mr Devonport stepped down as Chief Financial Officer on 28 January 2018 and is no longer considered KMP from this date. A portion of performance rights referred to in this table held by Mr Devonport that were granted on 5 January 2016 were linked to his continuous service, these rights will vest in FY2019. All other rights will be forfeited. 44 Myer Annual Report 2018