Umbrella LTIP rules
Umbrella LTIP rules

The following Share Incentives precedent provides comprehensive and up to date legal information covering:

  • Umbrella LTIP rules
  • 1 Definitions and interpretations
  • 2 How the Plan will operate
  • 3 Limit on the number of Shares which can be issued
  • 4 Grant of Awards
  • 5 Vesting of Awards and Holding Period
  • 6 General offer, scheme of arrangement or voluntary winding up of the Company
  • 7 Exchange of Awards
  • 8 Adjustment of Awards
  • 9 Consents
  • More...

PART ONE—GENERAL PROVISIONS

    1. 1

      Definitions and interpretations

      1. 1.1

        Definitions

        Annual Bonus

        1. means in respect of a particular Financial Year the annual bonus paid or payable to the Eligible Employee for that Financial Year as a result of the Eligible Employee’s participation in an annual cash bonus plan, scheme or arrangement operated by any member of the Group;

        Associated Company

        1. means in relation to the Company:

          1. (a)

            any company which has Control of the Company; and

          2. (b)

            any company which is under the Control of any company referred to in (a) above,

        Award

        1. means a Contingent Award, a Restricted Award, a Matched Award, an Option or a Cash Award;

        Board

        1. means the board of directors of the Company or a duly authorised committee of it, which may include the Remuneration Committee;

        Cash Award

        1. means a right to receive a payment in cash which has been granted or is proposed to be granted pursuant to Part Six of the Plan, which is a right to receive a cash payment which is calculated by reference to the Market Value of a number of Shares;

        Closed Period

        1. means a period when the Directors are prohibited from dealing in shares under the Market Abuse Regulation (Retained Regulation (EU) 596/2014) or any other regulation, legislation or code on transactions in securities which applies to the Company, including any share dealing code of the Company;

        Company

        1. means [insert name of company] which,

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