This Precedent is a sample bonus schedule, to be inserted as a schedule to an employment contract or director’s service agreement, providing for entitlement to an annual bonus to be calculated by reference to a company’s earning before interest, tax, depreciation and amortisation (EBITDA). EBITDA is a measure used to evaluate a company’s performance. 1 Definitions 1.1 In this Schedule, the following expressions will, unless the context otherwise requires, have the meanings set opposite them: Accounts • the audited profit and loss account of the Company; Board • [the directors of the Company present at a meeting: (i) of directors of the Company or (ii) of a duly appointed committee of directors of the Company[, such meeting to be convened and quorate in accordance with the articles of association of the Company and the Companies Act 2006] OR the directors of the Company present at a meeting of directors of the Company[, such meeting to be convened and quorate in accordance with the articles of association of the Company and the Companies Act 2006] ]; Bonus Payment Date • the date 30 days after the date of filing of the Accounts

This Practice Note analyses the use of bonus plans for employees and directors. It examines the two main types of bonus schemes, namely discretionary and contractual bonus plans. Discretionary bonuses are examined in some detail, including eligibility, exercise of discretion, restraints, and expectation. The Practice Note analyses the tax treatment of bonus plans and the implications of their termination. It outlines factors relevant to designing a scheme, drafting considerations and regulatory considerations, such as the requirements of the UK Corporate Governance Code. Finally, the Practice Note examines the effect of pregnancy or maternity leave, part-time or fixed-term employment, long-term illness and related discrimination issues on bonus plans and payments and remedies and how bonus claims can be brought in the employment tribunal or court. Bonuses can be a very effective tool to motivate and retain employees while allowing businesses to control wage costs. In certain sectors and industries (eg the financial sector), bonuses are a significant element of an employee's reward package. Directors' total remuneration frequently includes variable performance-based bonuses, which can be critical to attracting and retaining

In recent years, the annual bonus structures for executives have come under particularly close scrutiny, causing remuneration committees to rethink their approach. The abnormal economic conditions brought about through the coronavirus pandemic and cost of living crisis have raised the spectre of bonus payments to an even higher level of scrutiny. This Practice Note provides a practical analysis of the items that will need to be considered by companies as they review the nature and the structure of their executive annual cash bonus schemes. Does the cash bonus still have a role? With the dramatic escalation in share-based type rewards over the last 30 years or so, notably in the form of the long-term share incentive plan, does the executive cash bonus still have a role? The answer is that the short-term incentive, defined as the basis for rewarding the achievement of short-term goals after the end of a 12-month financial year, will usually include a substantial element of cash bonus. It would actually not be unusual for the whole amount of the short-term incentive

PI & Clinical Negligence analysis: Celebrating its 75th year of publication, Munkman on Employer’s Liability reaches a landmark with its expansive and meticulously updated 18th edition, reaffirming its status as a leading authority in personal injury and employment-related tort law. This latest edition is shaped by an editorial team of experienced barristers and judges, offering both authoritative legal commentary and accessible guidance for a wide range of readers, from junior lawyers to experienced practitioners. Written by Shilpa Shah of Ropewalk Chambers.

In the context of receivables, a sum of money which is payable by its debtors to a business in the ordinary course of its trade for the supply of goods or services.

A requirement of Regulation 5(2)(d) of the Infrastructure Planning (Applications: Prescribed Forms and Procedure) Regulations 2009 in relation to NSIPs. The book sets out relevant land interests, including rights over, Crown ownership, and land subject to compulsory purchase as a consequence of the development.

An institution that arranges the syndication and distribution of new loans or securities

The value at which something (eg a security) is recorded in a company's balance sheet (often the cost of buying it). If securities have been acquired at different times, the book value will reflect the average buying cost.

In the context of an equity fundraising, bookbuilding is the process by which the price and size of the issue of securities is set. The bookbuilding process involves investors giving indications of their likely take up of shares at different price levels. At the end of the process the broker/investment bank will set the offer price of the shares based on the indications received from investors.

CASE HUB ARCHIVED—this archived case hub reflects the position at the date of the decision of 19 April 2013; it is no longer maintained. See further, timeline, commentary and related cases. Case facts Outline UK merger investigation of the completed acquisition by Booker of Makro. Latest developments On 19 April 2013, the Competition Commission issued its final report and cleared the transaction unconditionally. Parties Booker Group plc (Booker), Makro Holding Limited (Makro)—the parties are UK-based wholesalers that supply a range of food, drinks, grocery and non-food products. Booker operate 172 'cash and carry' (C&C) branches in the UK and Premier (independent grocery stores). Makro operates 30 C&C branches in the UK. Makro was the UK subsidiary of German-based wholesale and retail operator Metro AG. Background The parties have a broad customer base that includes a variety of caterers, retailers

CASE HUB NOTE—appeal lodged before the General Court in Case T- 1139/23 ARCHIVED—this archived case hub reflects the position at the date of the decision 25 September 2023; it is no longer maintained. See further, timeline and commentary . Case facts Outline European Commission merger investigation into the proposed acquisition of Flugo Group Holdings by Booking Holdings (M.10615). The transaction involves horizontal overlaps in the market for accommodation online travel agencies Latest developments On 25 September 2023, the Commission prohibited the transaction. It concluded that the transaction would have allowed Booking Holings to strengthen its dominant position on the market for hotel online travel agencies in the EEA. The proposed commitments offered by Booking Holdings were not sufficient address the Commission’s concerns. Parties •Booking Holdings (Booking): Booking, a publicly listed company incorporated in the US, operates online travel agencies (OTA) brands such as Booking.com, Rentalcars, Priceline and Agoda. In the EEA, Booking is mainly active in the provision of accommodation OTA services under the Booking.com brand. Booking is also active to a limited extent

MLex: Booking, Airbnb, Expedia and other short-term booking platforms are concerned that an EU data-sharing regulation won’t be effective, following delays in setting up a cross-border housing registration system. The regulation is meant to give authorities harmonised data on short-term rentals and to help them enforce local rules on short-term rentals. The measure is part of the EU’s broader push on the housing crisis and plans for an Affordable Housing Act.