SCHEDULES
SCHEDULE 2Approved share incentive plans
Part 4Types of shares that may be awarded
Permitted restrictions: pre-emption conditions
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1
If the requirements of this paragraph are met, eligible shares may be subject to provision requiring shares—
a
that were awarded to an employee under the plan, and
b
that are held by an employee or a permitted transferee,
to be offered for sale on the employee ceasing to be in relevant employment.
2
For the purposes of sub-paragraph (1)(b) a “permitted transferee” means a person to whom, under the articles of association of the company, the employee is permitted to transfer the shares.
3
The requirements of this paragraph are that under the articles of association of the company—
a
the same provision applies to all employees of the company or, in the case of a parent company, to all employees of that company or any company of which that company has control,
b
the shares are required to be offered for sale at a specified consideration, and
c
anyone disposing of shares of the same class (whether or not as an employee) is required to offer the shares for sale on no better terms.