Company: IMCR
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001140361-25-010035
Chunk: 108

Company: Immunocore Holdings plc
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 108
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 the Executive Director in writing, an Executive Director must be an employee in good standing through the applicable annual bonus payment date to be eligible to receive an annual bonus, save as set out below in our policy on Termination and Loss of Office Payments. 
 Bonus payments may be subject to malus and/or clawback under the Incentive Compensation Recoupment Policy, adopted 26 October 2023, or any other malus and/or clawback policy that may be adopted in the future.                                                                                                                                                                                                                                                                       |
| Maximum opportunity                   |     | There is no defined maximum value for bonus, but the Committee will consider the aggregate value of any such bonus when determining what should be offered. Maximum annual bonus is currently 150% of base salary for the CEO and there is currently no intention to increase it during the life of this policy.                                                                                                                                                                       |
| Performance-related framework         |     | Each year, the Committee, in consultation with the Board, will determine the performance measures, which will be a range of targets that promote the Group’s business strategy and value creation for shareholders.                                                                                                                                                                                                                                                                    |

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| The annual bonus will be based upon the assessment of the Board (or a committee thereof) of the Executive Directors’ performance and the Group’s attainment of targeted goals (as established by the Board or a committee thereof in its sole discretion) for the applicable calendar year.                        
 The Committee will have the discretion to revise bonus measures annually, and the Committee also has the discretion to alter measures or to introduce new measures, based on the strategic focus of the Group at that time.                                                                                        
 If the level of payout is inconsistent with overall Group performance, the Committee has the discretion to alter the bonus outcome (including to reduce it to zero) taking into account any factors it considers relevant. This will help ensure that payouts reflect overall Group performance during the period. |

Equity Incentives

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|                     |     | Any share-based entitlements granted to an Executive Director under the Company’s share plans will be treated in accordance with the relevant plan rules or any applicable agreement. Under the good leaver provisions unvested options usually lapse, but vested options can be exercised within a period as set out in the plan rules. The Committee retains the discretion to vest awards (and measure performance accordingly) on cessation and disapply time prorating; however, it is envisaged that this would only be applied in exceptional circumstances, save as set out below in our policy on Ter