Target Remuneration Committee definition
Examples of Target Remuneration Committee in a sentence
The Bidders acknowledge and agree that the deferral of any variable remuneration payable to Target Employees (in respect of any variable remuneration granted prior to the Effective Date) shall be in accordance with the policy on such matters determined before the date of this Agreement by the Target Remuneration Committee and notified in writing to the Bidders, and acknowledged in writing by the Bidders, before the date of this Agreement.
The Bidders acknowledge that the extent to which Awards outstanding under the PSP vest on the date of the Scheme Order in connection with the Transaction is to be determined solely by the Target Remuneration Committee, in accordance with the rules of the PSP but subject always to paragraph 21.
Save as otherwise provided in this Schedule 1 and subject to Rule 21 of the Code and the Target’s directors’ remuneration policy, without the prior agreement of Bidder, the board of directors of Target (or where appropriate the Target Remuneration Committee) will not amend the rules of any Target Share Plan (and/or the terms of any options and/or awards granted under them).
The Bidder agrees that the extent to which FY20 PSU Awards and FY21 PSU Awards that have not vested prior to the Court Sanction Date vest in connection with the Acquisition, is to be determined solely by the Target Remuneration Committee, in accordance with the rules of the Target LTIP and, where applicable, the Target’s remuneration policy.
The Bidder acknowledges that if for any reason Target Shares cannot be issued or transferred when options are exercised or awards vest under any of the Target Share Plans (or the Target Remuneration Committee considers that it is inconvenient or costly to do so), such Awards may be settled by the Target in cash.
Bidder acknowledges that the Target Remuneration Committee currently intends for the FSP Awards to vest in full.
Bidco agrees to take any steps required to facilitate payment of the 2023 Bonuses in full of such bonuses in cash in the amounts determined by the Target Remuneration Committee, as soon as practicable following the Effective Date and in any event within 30 days of such date.
Other than as described in paragraph 5 the Target Remuneration Committee only intends to grant further Awards under any Target Share Plans in accordance with its established practice including as to timing and level of awards.
Save as otherwise provided in this Schedule 2, without the prior agreement of Bidder, the board of directors of Target (or where appropriate the Target Remuneration Committee) will not amend the rules of any Target Share Plan (and/or the terms of any options and/or awards granted under them).
The Target Remuneration Committee has determined that LTIP Awards over a maximum of a further 5,717,353 Target Shares will, in accordance with the LTIP rules, vest and become exercisable to the extent not already exercisable, on Court Sanction, and will lapse six months following Court Sanction to the extent not exercised.