SCHEDULES

SCHEDULE 4... CSOP schemes

Part 1Introduction

CSOP schemes

2

(1)

In the CSOP code a “CSOP scheme” means (in accordance with section 521(4)) a scheme which—

(a)

is established by a company,

(b)

provides for share options to be granted to employees and directors, and

(c)

is not an SAYE option scheme (within the meaning of the SAYE code: see section 516(4)).

(2)

In the CSOP code, in relation to a CSOP scheme—

“participant” means an individual who has been granted (but has not yet exercised) share options under the scheme (“the options”);

“participate” means obtain and exercise share options under the scheme;

“the scheme organiser” means the company which has established the scheme.