Options and  performance targets Sample Clauses

Options and  performance targets. The grant or exercise of an Option may be granted subject to an objective performance target selected by the Company at the Date of Grant which, in the case of a performance target on exercise, will have to be met before the Option can be exercised unless otherwise stated in the Rules. The exercise of an Option can be subject to any additional objective terms and conditions (together "Targets") the Company considers appropriate and notifies to HM Revenue & Customs. Where the exercise of an Option is subject to a Target, and if any event happens which causes the Company, acting fairly and reasonably, to believe that any such Target is no longer a fair target additional term or condition (as the case may be) the Company may waive or adjust any such Target accordingly. If any Target is adjusted, it shall be no more difficult to satisfy. If an Option is exchanged under Rule 10, the applicable Target can be adjusted by the Remuneration Committee in accordance with this Rule 2.1 to take account of this. For the avoidance of doubt, no new Targets may apply to any New Option if the relevant Old Option was an Option granted under the Approved Plan.