SCHEDULE 5INFORMATION ABOUT BENEFITS OF DIRECTORS
PART 3SUPPLEMENTARY PROVISIONS
Meaning of “long term incentive scheme”11
1
In this Schedule “long term incentive scheme” means an agreement or arrangement—
a
under which money or other assets may become receivable by a director, and
b
which includes one or more qualifying conditions with respect to service or performance which cannot be fulfilled within a single financial year.
2
For this purpose the following must be disregarded—
a
bonuses the amount of which falls to be determined by reference to service or performance within a single financial year;
b
compensation for loss of office, payments for breach of contract and other termination payments; and
c
retirement benefits.