RULES OF THE INVERNESS MEDICAL INNOVATIONS INC INLAND REVENUE
APPROVED OPTION PLAN
1. DEFINITIONS AND INTERPRETATION
The words and expressions used in this Plan which have capital letters have the meanings set out in the
The headings in the Rules are for convenience and should be ignored when construing them. Unless the
context otherwise requires, words in the singular include the plural and vice versa and words importing
either gender include both genders.
Reference in the Rules to any statutory provisions are to those provisions as amended, extended or re-
enacted from time to time, and include any regulations or other subordinate legislation made under them.
2. GRANT OF OPTIONS
2.1 Grant of Options
The Grantor may at its discretion, grant to any Eligible Employee an Option or Options at the Option
Price over such whole number of Shares as it decides.
2.2 Period for granting Options
Options may be granted at any time that the Grantor thinks appropriate.
2.3 Conditions to be satisfied on the exercise of Options
An Option may be granted subject to such conditions as the Grantor may decide being met before it can
be exercised. Such conditions:
2.3.1 must be objective and stated in writing at the Date of Grant and approved in advance by the
2.3.2 may not be waived or amended by the Grantor unless:
(i) an event occurs which causes the Board to consider that a waiver of or amendment to
the conditions would be a fairer measure of performance; and
(ii) the Board reasonably considers that a waiver of or amendment to the conditions w