Common use of RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE Clause in Contracts

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 The Executive shall not (except with the prior sanction of a resolution of the Board) be directly or indirectly employed, engaged, concerned or interested in any other business or undertaking, provided that this shall not prohibit the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on any recognised stock exchange as long as not more than three per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution of the Board. 12.2 The Executive shall comply with: (a) every rule of law; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (c) every regulation of the Company for the time being in force in relation to dealings in shares or other securities of the Company or any Group Company. 12.3 The Executive shall not (and shall procure so far as he is able that his spouse, infant children and other connected persons, within the meaning of section 346 Companies Act 1985), deal or become or cease to be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's code for securities transactions by directors. 12.4 Subject to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase effected or other business transacted (whether or not by him) by or on behalf of the Company or any Group Company and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission he shall account to the Company or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest therein).

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 11.1 The Executive shall not (except with the prior sanction of a resolution of the Board) be directly or indirectly employed, engaged, concerned or interested in any other business or undertaking, provided that this shall not prohibit the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on any recognised a recognized stock exchange in the United States or elsewhere as long as not more than three per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution of the Board. 12.2 11.2 The Executive shall comply with: (a) every rule of lawlaw and all requirements of any stock exchange on which the Company or any Group Company is listed; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (c) every regulation of the Company for the time being in force in relation to dealings in shares or other securities of the Company or any Group Company. 12.3 11.3 The Executive shall not (and shall procure so far as he is able that be deemed to be the beneficial owner of all securities of the Company or any Group Company owned directly or indirectly by his spouse, infant children and other connected persons, within related persons and the meaning of section 346 Companies Act 1985), deal or become or cease Executive warrants to the Company that all dealings with such securities shall be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's ’s code for securities transactions by directors. 12.4 11.4 Subject to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase effected or other business transacted (whether or not by him) by or on behalf of the Company or any Group Company and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission he shall account to the Company or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest therein).

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 The Executive shall not (except with the prior sanction of a resolution the Board of the BoardEmployer) be directly or indirectly employed, engaged, concerned or interested in any other business or undertaking, provided that this shall not prohibit the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on the Hong Kong Stock Exchange or any recognised stock exchange or in the Unlisted Securities Market on the London Stock Exchange as long as not more than three 5 per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution of the BoardGroup Chairman. 12.2 The Executive shall comply comply, and shall procure that his spouse, infant children and other connected persons (within the meaning of section 346 Companies Act 1985) shall comply, with: (a) every rule of law; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (cb) every regulation of the Employer or any Group Company for the time being in force in relation to dealings in shares or other securities of the Company Employer or any Group Company. 12.3 The Executive shall not (and shall procure so far as he is able that his spouse, infant children and other connected persons, within the meaning of section 346 Companies Act 1985), deal or become or cease to be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's code for securities transactions by directors. 12.4 Subject to any regulations issued by the Employer or any Group Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase of goods effected or other business transacted (whether or not by him) by or on behalf of the Company Employer or any Group Company and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission he shall account to the Company Employer or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest therein).. Back to Contents

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 The Executive shall not (except with the prior sanction of a resolution the Board of the BoardHSBC Holdings plc) be directly or indirectly employed, engaged, concerned or interested in any other business or undertaking, provided that this shall not prohibit the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on the Hong Kong Stock Exchange or any recognised stock exchange or in the Unlisted Securities Market on the London Stock Exchange as long as not more than three 5 per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution the Board of the Board.HSBC Holdings plc. Back to Contents 12.2 The Executive shall comply comply, and shall procure that his spouse, infant children and other connected persons (within the meaning of section 346 Companies Act 1985) shall comply, with: (a) every rule of law; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (cb) every regulation of the Employer or any Group Company for the time being in force in relation to dealings in shares or other securities of the Company Employer or any Group Company. 12.3 The Executive shall not (and shall procure so far as he is able that his spouse, infant children and other connected persons, within the meaning of section 346 Companies Act 1985), deal or become or cease to be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's code for securities transactions by directors. 12.4 Subject to any regulations issued by the Employer or any Group Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase of goods effected or other business transacted (whether or not by him) by or on behalf of the Company Employer or any Group Company and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission he shall account to the Company Employer or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest therein).

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 The Executive shall not (except with the prior sanction of a resolution the Chief Executive Officer of the BoardEmployer) be directly or indirectly employed, engaged, concerned or interested in any other business or undertaking, provided that this shall not prohibit the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on the Hong Kong Stock Exchange or any recognised stock exchange or in the Unlisted Securities Market on the London Stock Exchange as long as not more than three 5 per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution the Chief Executive Officer of the BoardEmployer. 12.2 The Executive shall comply comply, and shall procure that his spouse, infant children and other connected persons (within the meaning of section 346 Companies Act 1985) shall comply, with: (a) every rule of law; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (cb) every regulation of the Employer or any Group Company for the time being in force in relation to dealings in shares or other securities of the Company Employer or any Group Company.. Back to Contents 12.3 The Executive shall not (and shall procure so far as he is able that his spouse, infant children and other connected persons, within the meaning of section 346 Companies Act 1985), deal or become or cease to be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's code for securities transactions by directors. 12.4 Subject to any regulations issued by the Employer or any Group Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase of goods effected or other business transacted (whether or not by him) by or on behalf of the Company Employer or any Group Company and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission he shall account to the Company Employer or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest therein).

RESTRICTIONS ON OTHER ACTIVITIES BY THE EXECUTIVE. 12.1 The 13.1 During the Employment the Executive shall not (except with not, without the prior sanction of a resolution consent of the Board) be , directly or indirectly be employed, engaged, concerned or interested in any other business or undertakingundertaking or be involved in any activity which the Board reasonably considers may be, or become, harmful to the interests of the Company or any Group Company or which might reasonably be considered to interfere with the performance of the Executive’s duties under this Agreement provided that this clause 13.1 shall not prohibit the engagements referred to in clause 3.4.3 and the holding of shares or other securities in Immunocore Limited, and/or any subsidiary or holding company of Immunocore Limited, and the holding (directly or through nominees) of investments listed on the London Stock Exchange or in respect of which dealing takes place on any recognised stock exchange as long as not more than three 5 per cent of the issued shares or other securities of any class of any one company shall be so held without the prior sanction of a resolution of the Board.held 12.2 The Executive shall comply with: (a) every rule of law; (b) the rules and regulations of the OFEX Rule Book and/or any other rules and regulations which are applicable to him from time to time; and (c) every regulation of the Company for the time being in force in relation to dealings in shares or other securities of the Company or any Group Company. 12.3 The Executive shall not (and shall procure so far as he is able that his spouse, infant children and other connected persons, within the meaning of section 346 Companies Act 1985), deal or become or cease to be interested (within the meaning of part I Schedule XIII Companies Act 1985) in any securities of the Company, except in accordance with the Company's code for securities transactions by directors. 12.4 13.2 Subject to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate or commission in respect of any sale or purchase of goods effected or other business transacted (whether or not by him) him by or on behalf of the Company or any Group Company Company) and if he (or any firm or company in which he is interested) shall obtain any such discount, rebate or commission commission, he shall account to the Company or the relevant Group Company for the amount received by him (or a due proportion of the amount received by such company or firm having regard to the extent of his interest thereinin it).