Paragraph 3

A share option is not a qualifying option unless the requirements of this Part of this Schedule as to the following are met at the appropriate time—

• the purpose for which the option is granted (see paragraph 4),

• the maximum entitlement of an employee (see paragraphs 5 and 6),

• the maximum value of the relevant company’s shares in respect of which unexercised options can exist (see paragraph 7).