TIME
TO TIME TO VARY YOUR NORMAL PLACE OF WORK INCLUDING REQUIRING YOU TO WORK AT THE
MAIN OFFICE OF ANY COMPANY WITHIN THE GROUP OR ANY PARTICULAR BUSINESS OR
DIVISION WITHIN THE GROUP.
7.
PAY
7.1
YOUR BASIC SALARY WILL BE PAID AT THE RATE OF
£440,000 PER ANNUM WHICH SHALL ACCRUE FROM DAY TO DAY AND BE PAYABLE IN EQUAL
MONTHLY INSTALMENTS IN ARREARS BY DIRECT TRANSFER TO YOUR BANK/BUILDING SOCIETY
ACCOUNT AND SHALL BE INCLUSIVE OF ANY FEES WHICH MAY BE OR BECOME RECEIVABLE BY
YOU AS A DIRECTOR OF ANY COMPANY IN THE GROUP. YOUR SALARY WILL BE REVIEWED
ANNUALLY/IN JULY EACH YEAR AND MAY BE INCREASED BY SUCH AMOUNT IF ANY AS THE
COMPANY THINKS FIT, HOWEVER, THERE IS NO CONTRACTUAL RIGHT TO ANY INCREASE BY
VIRTUE OF THIS CLAUSE.
7.2
YOU WILL BE ELIGIBLE FOR A DISCRETIONARY
ANNUAL BONUS IN ACCORDANCE WITH THE BONUS SCHEME RULES IN FORCE AND FROM TIME TO
TIME BASED ON INDIVIDUAL AND/OR ENTERPRISE
PERFORMANCE AT A LEVEL TO BE
DETERMINED BY THE BOARD.
7.2.1
ANY BONUS PAYMENT TO YOU SHALL BE PURELY
DISCRETIONARY AND SHALL NOT FORM PART OF YOUR CONTRACTUAL REMUNERATION UNDER
THIS AGREEMENT. IF THE COMPANY MAKES A BONUS PAYMENT TO YOU IN RESPECT OF A
PARTICULAR
FINANCIAL YEAR OF THE COMPANY, IT SHALL NOT BE OBLIGED TO MAKE SUBSEQUENT BONUS
PAYMENTS IN RESPECT OF SUBSEQUENT FINANCIAL YEARS OF THE COMPANY.
7.2.2
NOTWITHSTANDING CLAUSE 7.2.1, YOU SHALL IN
ANY EVENT HAVE NO RIGHT TO A BONUS OR A PRO-RATED BONUS IF YOUR EMPLOYMENT
TERMINATES FOR ANY REASON OR YOU ARE UNDER NOTICE OF TERMINATION (WHETHER GIVEN
BY YOU OR THE COMPANY) AT OR PRIOR TO THE DATE WHEN A BONUS MIGHT OTHERWISE HAVE
BEEN PAYABLE.
7.2.3
ANY BONUS PAYABLE IN ACCORDANCE WITH CLAUSE
7.2 SHALL NOT BE PENSIONABLE.
7.3
FOR THE PURPOSES OF THE EMPLOYMENT RIGHTS ACT
1996, YOU HEREBY AUTHORISE THE COMPANY TO DEDUCT FROM YOUR REMUNERATION
HEREUNDER ANY SUMS DUE FROM YOU TO THE COMPANY OR ANY OTHER COMPANY IN THE GROUP
INCLUDING, WITHOUT LIMITATION, ANY OVERPAYMENTS, LOANS OR ADVANCE MADE TO YOU BY
THE COMPANY OR ANY OTHER COMPANY IN THE GROUP.
8.
BENEFITS AND EXPENSES
8.1
ANY BENEFITS SUPPLIED TO YOU OR YOUR FAMILY
FROM TIME TO TIME WHICH ARE NOT EXPRESSLY REFERRED TO IN THIS AGREEMENT ARE
PROVIDED EX GRATIA AND SHALL NOT FORM PART OF YOUR CONTRACT OF EMPLOYMENT.
8.2
ANY BENEFITS SUPPLIED TO YOU OR YOUR FAMILY
SHALL BE SUBJECT TO THE RULES OF THE RELEVANT SCHEME WHICH ARE IN PLACE FROM
TIME TO TIME AND ANY APPLICABLE HM REVENUE & CUSTOMS ("HMRC") RULES OR LIMITS
FROM TIME TO TIME IN FORCE.
A COPY OF THE RELEVANT SCHEME TERMS AND CONDITIONS
MAY BE OBTAINED FROM THE HUMAN RESOURCES DEPARTMENT.
8.3
THE COMPANY WILL, SUBJECT TO (I) THE TERMS OF
ANY RELEVANT SCHEME IN FORCE FROM TIME TO TIME AND (II) YOU BEING ELIGIBLE UNDER
THE GENERAL PROVISIONS OF ANY APPLICABLE PLAN OR PROGRAMME OR POLICY AND/OR
(III) YOU BEING