EPS Employee definition
EPS Employee means all senior executives of the Employer falling on the rank of Level D or its equivalent rank as designated by the Employer from time to time at the beginning of Assessment Year 2020 and/or at the time the EPS Employee is promoted to such rank, whether part time or full time and whether becoming the employee of the Employer before or after the Adoption Date under the Executive Performance Share Scheme. “EPS Participating Employee” means any EPS Employee, excluding the Excluded Employees, participating in the Executive Performance Share Scheme in accordance with the EPS Scheme Rules or (where the context so permits) the legal personal representative of such deceased EPS Participating Employee. “EPS Scheme Rules” means the rules relating to the Executive Performance Share Scheme, as amended, modified or supplemented from time to time. “Amended and Restated EPS Trust Deed” means the amended and restated trust deed dated 24 February 2015 entered into between the Company and the Trustee (as restated, supplemented and amended from time to time) in respect of, inter alia, the constitution of the employee share trust pursuant to the Executive Performance Share Scheme and the appointment of the Trustee for the administration of the Executive Performance Share Scheme. “Executive Performance Share Scheme” means the executive performance share scheme of the Company approved and adopted by the Board on the Adoption Date, in its present form or as amended from time to time in accordance with the provisions of the EPS Scheme Rules. “Excluded Employee” means any Employee who is resident in any place where, as determined by the Board or the Trustee (as the case may be), the grant, vesting and/or settlement of the Scheme Shares and the Related Income pursuant to the terms of any of the Schemes at the time of the proposed grant, vesting and/or settlement is not permitted under the laws and regulations of such place, or where in the view of the Board or the Trustee (as the case may be), compliance with the applicable laws and regulations of such place makes it necessary or expedient to exclude such Employee. “General Mandate” means the general mandate granted by the Shareholders at the annual general meeting of the Company held on 2 June 2021, under which the Directors may issue and allotup to 5,256,770,082 Shares.
Examples of EPS Employee in a sentence
For each one percent (1%) increase in EPS, Employee shall be entitled to a bonus of fifteen percent (15%) of base salary up to a maximum bonus of one hundred fifty percent (150%) of base salary.
Upon the consummation of an initial underwritten public offering of the equity securities of EPS, Employee will receive an increase in Employee's Annual Salary to a rate of Three Hundred Thousand Dollars ($300,000), provided that Employee is still employed with the Company at such time.
For each one percent (1%) increase in EPS, Employee shall be entitled to a bonus of seven and one-half percent (7.5%) of base salary up to a maximum bonus of seventy-five percent (75%) of base salary.