# The Community Interest Company Regulations 2005, Paragraph 8: Meaning of “long term incentive scheme”

Extent: E+W+S

(1) In this Schedule “long term incentive scheme” means an agreement or arrangement—
(a) under which money or other assets may become receivable by a director, and
(b) which includes one or more qualifying conditions with respect to service or performance which cannot be fulfilled within a single financial year.
(2) For this purpose the following must be disregarded—
(a) bonuses the amount of which falls to be determined by reference to service or performance within a single financial year,
(b) compensation for loss of office, payments for breach of contract and other termination payments, and
(c) retirement benefits.

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Source: https://www.legislation.gov.uk/uksi/2005/1788/schedule/4A/paragraph/8 (the official version)
Page: https://openlegislation.uk/community-interest-company-regulations-2005/schedule-4A/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.