# The Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008, Paragraph 8: Meaning of “long term incentive scheme”


(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/ukdsi/2008/9780110806426/schedule/3/paragraph/8 (the official version)
Page: https://openlegislation.uk/draft-small-companies-and-groups-accounts-and-directors-report-regulations-2008/schedule-3/paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.