Common use of Discretionary Benefits Clause in Contracts

Discretionary Benefits. 6.1 From time to time the Company may decide to offer Executive Management and Executive Committee Bonus Schemes and make bonus payments under them at its discretion. The terms of any such Schemes will be advised to eligible employees at the time that they are made available. 6.2 These benefits do not form part of your contractual terms. Whether the Board may grant, vary or withdraw any or all is within its absolute discretion.

Appears in 2 contracts

Samples: Contract of Employment (Abbey National PLC), Employment Agreement (Abbey National PLC)

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Discretionary Benefits. 6.1 7.1 From time to time the Company may decide to offer Executive Management and Executive Committee Bonus Schemes and make bonus payments under them at its discretion. The terms of any such Schemes will be advised to eligible employees at the time that they are made available. 6.2 7.2 These benefits do not form part of your contractual terms. Whether the Board may grant, vary or withdraw any or all is within its absolute discretion.

Appears in 1 contract

Samples: Contract of Employment (Abbey National PLC)

Discretionary Benefits. 6.1 From time to time the Company may at its discretion decide to offer Executive Management and Bonus Schemes and/or Executive Committee Bonus Schemes and make bonus payments under them at its discretionand/or Executive Share Option Schemes. The terms of any such Schemes will be advised to eligible employees at the time that they are made available.. Back to Contents 6.2 These benefits do not form part of your contractual terms. Whether Although the Board in its absolute discretion may grant, vary or withdraw any or all is within its absolute discretionof these benefits, the Company confirms that the basis on which you participate in such benefits shall not unreasonably be less favourable than any other executive member of the Board in respect of these benefits.

Appears in 1 contract

Samples: Contract of Employment (Abbey National PLC)

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Discretionary Benefits. 6.1 From time to time the Company may decide to offer Executive Management and Executive Committee Bonus Schemes and make bonus payments under them at its discretion. The terms of any such Schemes will be advised to eligible employees at the time that they are made available. 6.2 These benefits do not form part of your contractual terms. Whether the Board may grant, vary or withdraw any or all is within its absolute discretion.

Appears in 1 contract

Samples: Contract of Employment (Abbey National PLC)

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