Document:

EXHIBIT 4.8

 

Exhibit 4.8

 

DATED
                                                        MARCH 2004

 

 

 

BARCLAYS BANK PLC

 

and

 

MATTHEW W BARRETT

 

 

DEED OF AMENDMENT

TO THE EXECUTIVE’S SERVICE AGREEMENT

DATED 20TH MARCH 2002

 

 

This Deed is made on the
       March, 2004

BETWEEN:

	(1)	 	BARCLAYS BANK PLC (a Company registered in England and Wales under no.
1026167) whose registered office is at 54 Lombard Street, London EC3P 3AH
(“Barclays”) and;
	 
	(2)	 	MATTHEW W BARRETT of 15 South Street, London W1K 2XD
(“the Executive”)

WHEREAS:

The Executive and Barclays have agreed to amend the service agreement between
the Executive and Barclays dated 20th March, 2002 (“the Service Agreement”) as
set out in this Deed.

IT IS HEREBY AGREED:

	1.	 	Clause 15.2(ii) will cease to apply with effect from 15th March, 2004.
	 
	2.	 	All other terms of the Service Agreement continue unchanged.

In witness of which this Deed has been executed and has been delivered on
            March 2004

Signed as a deed by

Sir Peter Middleton

and Lawrence Dickinson

on behalf of BARCLAYS BANK PLC
 

	 	 	 
	 

Sir Peter Middleton

Chairman	 	
 

Lawrence Dickinson

Company Secretary

	 	 	 	 	 	 	 
	Signed as a deed by MATTHEW W BARRETT

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 

	 	 	 	 	 
	Witness:	 	
 

	 	 
	Name:	 	
 

	 	 
	Address:EXHIBIT 4.9

 

Exhibit 4.9

 

 

DATED
                                                        2003

 

 

 

BARCLAYS BANK PLC (1)

 

- And -

 

JOHN SILVESTER VARLEY (2)

 

 

CONTRACT OF EMPLOYMENT

(19/12/03)

 

 

This Agreement is made the                       day of                       2003

BETWEEN:

	(1)	 	BARCLAYS BANK PLC (a company registered in England and Wales under no.
1026167) whose registered office is at 54 Lombard Street, London EC3P 3AH
(“Barclays”) and;
	 
	(2)	 	Mr John Silvester Varley of 9 Luxembourg Gardens, Hammersmith, London W6
7EA (“the Executive”).

WHEREAS:

The Executive has been employed by Barclays as Group Finance Director and the
parties wish his employment to continue on the terms and conditions set
out in this Agreement in substitution for any previous agreement or
arrangement.

IT IS HEREBY AGREED:

	1.	 	DEFINITIONS
	 
	1.1	 	In this Agreement:
	 
	 	 	“Associated Company” means any company which for the time being is:

	 	(i)	 	a holding company (as defined by Section 736 of the Companies
Act 1985) of Barclays;
	 
	 	(ii)	 	a subsidiary (as defined by Section 736 of the Companies Act
1985) of Barclays or of its holding company;
	 
	 	(iii)	 	a company over which Barclays has control within the meaning
of Section 840 of the Income and Corporation Taxes Act 1988; or
	 
	 	(iv)	 	a subsidiary undertaking of Barclays as defined by Section
258 of the Companies Act 1985.

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	 	 	“Barclays Group” means Barclays and any Associated Company and “member of
the Barclays Group” shall be construed accordingly;
	 
	 	 	“Board” means the Board of Directors of Barclays and any duly appointed
committee of the Board.
	 
	1.2	 	References to any statute includes any modification or re-enactment of
it.
	 
	2.	 	APPOINTMENT AND TERM
	 
	2.1	 	This Agreement shall take effect on 1 January 2004 (“the Effective Date”)
and continue until terminated as provided in this Agreement.
	 
	2.2	 	From the Effective Date Barclays shall continue to employ the Executive
and the Executive shall serve Barclays as Deputy Group Chief Executive.
The Executive shall remain a member of the Group Executive Committee and a
director of Barclays plc and Barclays Bank plc. The Executive’s duties as
a director of Barclays or any member of the Barclays Group are subject to
the Articles of Association of the relevant company for the time being.

	 	2.2.1	 	On a date to be determined by the Board, being no later than 1
January 2005, the Executive shall relinquish the role of Deputy Chief
Executive and become Group Chief Executive on the terms of this
Agreement.

	2.3	 	Subject to clause 14, the Executive’s employment may be terminated on:

	 	2.3.1	 	12 months’ written notice given at any time by Barclays to
the Executive; or
	 
	 	2.3.2	 	6 months’ written notice given at any time by the Executive
to Barclays.

	2.4	 	If not terminated earlier, the Executive’s employment shall terminate
automatically when the Executive reaches the age of 60.

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	3.	 	DUTIES
	 
	3.1	 	During his employment, the Executive shall:

	 	3.1.1	 	diligently perform such duties and exercise such powers and
functions not inconsistent with the roles referred to in Clause 2.2
above as may reasonably be assigned to or vested in him from time to
time by the Board in relation to the Barclays Group;
	 
	 	3.1.2	 	faithfully and loyally serve Barclays to the best of his
ability and use his utmost endeavours to promote the interests of
the Barclays Group to the best of his ability and to this end during
working hours devote his time and attention, exclusively to his
duties under this Agreement;
	 
	 	3.1.3	 	comply with all reasonable requests, instructions and
regulations given by the Board or the Group Chief Executive (until
the Executive’s appointment as Group Chief Executive) or the Group
Chairman as authorised by it, and promptly provide such
explanations, information and assistance as to his activities in the
business of the Barclays Group as they may reasonably require;
	 
	 	3.1.4	 	neither engage in any activities which would detract from
the proper performance of his duties under this Agreement, nor
(without the prior written consent of the Board (such consent not
to be unreasonably withheld) in any capacity including as director,
shareholder, principal, consultant, agent, partner or employee
engage or be concerned or interested directly or indirectly in any
other trade, business or occupation whatsoever. This clause shall
not prevent the Executive holding shares for investment purposes
only of securities, which do not exceed five per cent (5%) in
nominal value of the share capital or stock of any class of any
company quoted on a recognised stock exchange.

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	3.2	 	Notwithstanding the provisions of clause 3.1, Barclays shall:

	 	3.2.1	 	be entitled during any period when the Executive is
prevented by illness, accident or other incapacity from properly
performing his duties or when the Executive is suspended pursuant to 3.2.3 or 3.3
below to appoint another person or persons to act jointly with the
Executive so long as such circumstances prevail;
	 
	 	3.2.2	 	have the right to require the Executive at any time to carry
out such special projects or duties (in addition to his normal
duties) consistent with the roles referred to in Clause 2.2 above as
Barclays shall in its absolute discretion determine; and
	 
	 	3.2.3	 	have the right to suspend at any time the Executive from the
performance of any duties or exclude him from any premises of
Barclays to allow it to undertake any investigation including, but
not limited to, any investigation under the disciplinary procedure
or failure to obtain or hold any regulatory authorisations necessary
to fulfil the position held by the Executive, provided that such
period of suspension lasts 28 days unless it is reasonably necessary
to carry out a longer investigation.

	3.3	 	If either party has given notice to terminate the Executive’s employment,
Barclays may, in its absolute discretion, at any time require the
Executive to cease performing his job and/or not to attend at his place of
work for the whole or part of his notice period (not exceeding six months
in aggregate). The Executive’s salary, contractual benefits and the
eligibility to be considered for an award in any incentive arrangements
will not be affected by reason of Barclays exercise of its powers under
this clause. For the avoidance of doubt, during any period of garden
leave under this clause, the Executive shall remain bound by the terms and
conditions of his employment (except as expressly included in this clause)
and, in particular, by his obligations of confidentiality and good faith
to Barclays.

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	3.4	 	During any period of suspension under clause 3.2.3 or any period of
garden leave under clause 3.3, Barclays shall have the right to require
the Executive not to speak to or otherwise communicate with any director
or employee of any member of the Barclays Group or any person, firm or
company who at the date of such suspension or exclusion is a client or
customer of any member of the Barclays Group, without the prior consent
of the Chairman (not to be unreasonably withheld). It is agreed that
this sub-clause shall not apply to non-business communications.
	 
	4.	 	DEALING RULES
	 
	4.1	 	The Executive hereby agrees to be bound by and comply with the Barclays
Group Share Dealing Code or with any more stringent dealing rules, which
Barclays notifies to the Executive, are applicable to him.
	 
	5.	 	REMUNERATION AND REIMBURSEMENT OF EXPENSES
	 
	5.1	 	Barclays shall pay the Executive a basic salary at the rate of £700,000
per annum payable in arrears by equal monthly instalments on or by the
last day of each month. The Executive’s basic salary is inclusive of any
fees to which the Executive may be entitled as a director of any member of
the Barclays Group. The Executive’s basic salary shall be reviewed from
time to time and may in the sole discretion of the Board be increased
following any such review.
	 
	5.2	 	The Executive will be eligible to receive a discretionary bonus award in
respect of each financial year subject to such rules of the bonus scheme
as may be from time to time in force and the following conditions:

	 	5.2.1	 	the amount, structure and form of any bonus award will be
determined by Barclays in its sole discretion (which for the
avoidance of doubt includes the right to make a nil award) provided
such discretion is exercised reasonably and in good faith having
regard to the Executive’s status, responsibilities and Barclays
Group performance

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	 	 	 	as well individual performance and the awards made
to other executive directors.
	 
	 	5.2.2	 	any award will only be paid if the Executive is in Barclays
employment
and not having served notice of termination to Barclays before
the time of its payment (which will be no later than 31 March
following the end of the relevant financial year); and
	 
	 	5.2.3	 	any award will be paid less deductions of income tax and
national insurance contributions, as appropriate.

	5.3	 	Barclays shall reimburse to the Executive all travelling, hotel,
entertainment and other expenses properly and reasonably incurred by him
in the performance of his duties under this Agreement and properly claimed
and vouched for in accordance with Barclays current expense reporting
procedure.

	6.	 	SHARE SCHEMES
	 
	6.1	 	The Executive will be considered on an annual basis for participation in
the Barclays PLC Incentive Share Option Plan subject to the rules of the
plan in force from time to time. Any award by Barclays will be entirely
at its discretion provided such discretion is exercised reasonably and in
good faith having regard to the Executive’s status and responsibilities
and Barclays Group performance as well as his own performance and the
awards made to other executive directors. Barclays reserves the right to
withdraw, amend or replace the plan at any time.
	 
	7.	 	PENSIONS PROVISION AND LIFE ASSURANCE
	 
	7.1	 	The Executive is a member of the 1964 Pension Scheme section of the
Barclays Bank UK Retirement Fund, which is a final salary arrangement,
contracted out of the State Earnings Related Pension Scheme The
Executive’s membership of

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	 	 	and participation in the 1964 Pension Scheme
shall be subject to the Trust Deed and Rules of the scheme in force from
time to time.
	 
	7.2	 	Under the current rules of the Barclays Bank UK Retirement Fund, in the
event of the Executive’s death whilst in the service of Barclays, a lump
sum of 4 x Basic Salary is payable, subject to Inland Revenue limits if
applicable,
plus a spouse’s pension and children’s pension. For the purposes of this
clause “Basic Salary” shall mean the Executive’s basic salary at the date
of his death. The Executive shall continue to participate in this scheme
subject to the rules of the scheme from time to time.
	 
	8.	 	OTHER BENEFITS
	 
	8.1	 	Subject to the rules of the relevant schemes from time to time in force,
Barclays will continue to provide the following benefits to the Executive.
For the avoidance of doubt, these benefits are provided at the discretion
of Barclays and do not create enforceable contract terms under the
Contracts (Rights of Third Parties) Act 1999. Barclays shall have the
right to change these arrangements or withdraw the provision of these
benefits as it sees fit, and/or give notice to lawfully terminate this
Agreement as specified in clause 2.3, provided that, in changing or
withdrawing such benefits, the Executive is treated no less favourably
compared with the general treatment of the other executive directors of
Barclays.

	 	8.1.1	 	The Executive will be eligible to participate in the
Barclays car scheme, which provides the option of a car for personal
and business use or a non-pensionable cash alternative, which will
be payable subject to income tax and national insurance
contributions, as appropriate.
	 
	 	8.1.2	 	Medical cover will be available through AXA/PPP or any
substitute scheme operated by Barclays for its employees. Medical
cover may be provided for the Executive’s spouse and dependants at
the Executive’s cost through a separate scheme. All cover will
cease on the Executive

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	 	 	 	leaving employment whether on retirement,
resignation or for any other reason.

	9.	 	HOLIDAYS
	 
	9.1	 	In addition to Bank and Public Holidays, the Executive shall be entitled
to 30 working days’ paid holiday during each holiday year, which runs from
1
March to the end of February the following year. The Executive’s holiday
dates must be agreed with the Group Chief Executive and, following the
Executive’s appointment to that role, with the Chairman. Regulation
15(1-4) of the Working Time Regulations 1998 (dates on which leave is
taken) do not apply. The Executive may not carry forward any unused part
of his holiday entitlement to a subsequent holiday year without the
written consent of the Group Chief Executive or, following the
Executive’s promotion to that role, the written consent of the Chairman
(such consent would not be unreasonably withheld).
	 
	9.2	 	If the Executive leaves during a holiday year, his holiday entitlement
will be recalculated as 2.5 day’s holiday for each completed month worked
in the year. If when the Executive is leaving his employment he has taken
less holiday than his accrued entitlement, he will be paid salary in lieu
of any outstanding holiday entitlement. If when the Executive is leaving
he has taken more holiday than his accrued entitlement, he will have to
repay to Barclays any salary received in excess of his proportionate
holiday entitlement. One day’s holiday pay will be deemed to be 1/260th of
his annual basic salary.
	 
	10.	 	INCAPACITY
	 
	10.1	 	If the Executive shall at any time be prevented by illness or accident or
other incapacity from properly performing the duties of his employment, he
shall report this fact forthwith to the Group Chief Executive or,
following the Executive’s promotion to that role, the Chairman (or such
other person as may be notified to the Executive from time to time). The
Executive shall be required

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	 	 	to produce an appropriate doctor’s certificate
in respect of any period of absence of more than seven consecutive days.
The Executive may be asked to submit to a medical examination as directed
by Barclays.
	 
	10.2	 	Subject to the Executive complying with clause 10.1, if as a result of
illness or accident or other incapacity the Executive is unable to perform
his duties, he will be eligible to receive his basic salary for a period
of 26 weeks (whether consecutive or not) in any period of 12 consecutive
months. The Executive shall be granted a further 13 weeks at the rate of
half his basic
salary (applicable at the relevant time) if his entitlement to full sick
pay expires during an extended period of sickness. Thereafter Barclays
may by notice to the Executive discontinue payment in whole or in part of
his salary until such incapacity shall cease or terminate this Agreement.
Any payment will be subject to the deduction of any Statutory Sick Pay or
social security or other benefits payable to the Executive including any
sums recoverable from a third party. The Executive’s qualifying days for
Statutory Sick Pay purposes are Monday to Friday. For the avoidance of
doubt, Barclays has the right at any time to serve notice to terminate
this Agreement under clause 2.3.
	 
	11.	 	INTELLECTUAL PROPERTY
	 
	11.1	 	The Executive will promptly disclose to Barclays and keep confidential
all inventions, copyright works, designs or technical know-how conceived
or made by the Executive alone or with others in the course of his
employment. The Executive will hold all such intellectual property in
trust for Barclays and will do everything necessary or desirable at
Barclays expense to vest the intellectual property fully in Barclays
and/or to secure patent or other appropriate forms of protection for the
intellectual property. Decisions as to the protection or exploitation of
any intellectual property shall be in the absolute discretion of Barclays.

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	12.	 	CONFIDENTIAL INFORMATION
	 
	12.1	 	The Executive shall not during his employment (except as necessary for
the proper performance of his duties) or at any time after its termination
(save for the right to comment appropriately to the extent that the same
affects his reputation, upon any information in the public domain
otherwise than as a result of breach of duty by him) for any reason
whatsoever disclose to any person whatsoever or otherwise make use of any
confidential or secret information which he has or may have acquired in
the course of his employment concerning the business or affairs of any
member of the Barclays Group or any of their suppliers or customers.
	 
	12.2	 	Confidential information includes but is not limited to:

	 	12.2.1	 	corporate and marketing strategy, business development plans,
sales reports and research results;
	 
	 	12.2.2	 	business methods and processes, technical information and know-how
relating to the Barclays Group’s business and which is not available
to the public generally, including inventions, designs, programmes,
techniques, database systems, formulae and ideas;
	 
	 	12.2.3	 	business contacts, lists or details of customers and suppliers and
details of contacts with them, their business or affairs;
	 
	 	12.2.4	 	information on employees and the terms and conditions of their
employment, details of employee benefits, incentive schemes/plans,
salary scales, trade union/employee disputes current or anticipated;
	 
	 	12.2.5	 	information or details of any actual, potential or threatened
litigation, legal action, claim, dispute or arbitration against or
with any member of the Barclays Group or any director, officer or
employee of the Barclays Group in such capacity and any information
in respect of provisions for any such action;

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	 	12.2.6	 	budgets, management accounts, trading statements and other financial
reports; and
	 
	 	12.2.7	 	unpublished price sensitive information relating to shares or
securities listed or dealt in on any recognised stock exchange.

	12.3	 	The Executive shall at all times comply with any relevant Barclays
policies on the security of information and shall use his best endeavours
to prevent any unauthorised publication or disclosure of any confidential
or secret information.
	 
	12.4	 	The restrictions in this clause 12 shall not apply in respect of
information in the public domain (save as a result of default by the
Executive) or if such information is required to be produced by a court of
law, or by a governmental or regulatory body.
	 
	13.	 	RESTRICTIVE COVENANTS
	 
	13.1	 	The Executive shall not without the prior written consent of the Board
(such
consent to be withheld only so far as may be reasonably necessary to
protect the
legitimate interests of the Barclays Group) either on his own behalf or on
behalf of
any other person, firm or company:

	 	13.1.1	 	for a period of 6 months from the termination of the Executive’s
employment be engaged or interested (whether as a director,
shareholder, principal, consultant, agent, partner or employee) in
any business within the European Union which is competitive or likely
to be competitive with any business of the Barclays Group in the
provision of banking or financial services and which is carried on by
the Group as at the date the Executive’s employment terminates;
	 
	 	13.1.2	 	for a period of 12 months from the termination of the Executive’s
employment (on his own account or on behalf of any person, firm or

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	 	 	 	company) (directly or indirectly) canvass or solicit business for
products or services similar to those being offered by the Barclays
Group from any person, firm or company who is or has been a customer
of the Barclays Group in the 12 months prior to the termination of
the executive’s employment and with whom he had material dealings in
respect of banking facilities or other products or services provided
by the Barclays Group during that period;
	 
	 	13.1.3	 	for a period of 12 months from the termination of the Executive’s
employment (directly or indirectly) induce or attempt to induce or
entice away any director, officer or employee of executive status to
leave the employment of the Barclays Group and with whom the
Executive had material dealings in the 12 months prior to the
termination of his employment.

	13.2	 	Each of the restrictions contained in clauses 13.1.1, 13.1.2 and 13.1.3
of this clause are considered by the parties to be reasonable in all the
circumstances as at the date of this Agreement. However, the parties
agree that if any one or more of such restrictions shall be judged to be
void as going beyond what is reasonable in all the circumstances for the
protection of the interests of the Barclays Group but if words were
deleted or the period was reduced or the range of activities or area
covered was reduced in scope would be valid the restrictions shall be
deemed to apply with such modifications as may be necessary to make them
valid and effective. Any such modification shall not affect the validity
of any other restriction contained in this Agreement.
	 
	13.3	 	The period of restriction stated in clause 13.1 shall be reduced by the
length of time, if any, that the Executive is suspended from his duties
pursuant to clause 3.3.

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	14.	 	TERMINATION ON THE HAPPENING OF CERTAIN EVENTS
	 
	14.1	 	Without prejudice to any remedy Barclays may have against the Executive
for breach or non-performance of any of the provisions of this Agreement,
and irrespective of whether the grounds for termination arose before or
after the Executive’s employment began, Barclays may (without thereby
incurring any obligation to pay compensation (including, but without
limitation, any payment in lieu of notice) save in relation to payments
accrued and owing at the date of termination) immediately determine the
Executive’s employment by notice in writing to the Executive if he shall:

	 	14.1.1	 	become bankrupt (or equivalent in any other jurisdiction) or
become the subject of an interim order under the Insolvency Act 1986
or make any arrangements or composition with his creditors; or
	 
	 	14.1.2	 	be convicted of any criminal offence (other than a road traffic
offence not involving a custodial sentence or an offence which, in
the reasonable opinion of Barclays, does not affect the Executive’s
position as an employee of Barclays, bearing in mind the nature of
his duties and the capacity in which he is employed); or
	 
	 	14.1.3	 	commit any act of dishonesty whether relating to any member of the
Barclays Group, other employees or otherwise; or
	 
	 	14.1.4	 	be guilty of any serious misconduct or any conduct calculated or
tending to bring any member of the Barclays Group or himself into
disrepute or be guilty of any material breach or material
non-observance of any of the provisions of this Agreement or be
guilty of any serious negligence in carrying out his duties properly
assigned to him under this Agreement; or
	 
	 	14.1.5	 	cease to hold or fail to obtain any regulatory approvals or
consents which are required for the effective discharge by the
Executive of any

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	 	 	 	duties assigned to him save where such cessation or
failure is as a result of a default by any member of the Barclays
Group.

	14.2	 	Barclays reserves the option, in its absolute discretion, to terminate
the Executive’s employment by giving him notice and (subject to Barclays
right to place the Executive on garden leave for a period not exceeding 6
months under clause 3.3) pay him his basic salary and bonus (as defined
in clause 14.3 below) subject to deductions for income tax and national
insurance contributions (as appropriate) in equal instalments at such
time(s) as he would have received such payment(s) of basic salary had he
been required to work for the whole or remainder of such notice period.
The amount of such payment(s) (including the amount in respect of bonus)
shall be pro rated for the applicable period of the notice period.
Benefits will be
credited to the Executive in the pension scheme referred to in Clause 7
as if the Executive had remained in service for the applicable period of
the notice period. The Executive acknowledges and accepts his obligation
to mitigate his loss by seeking comparable new employment. If the
Executive commences alternative employment or his services are employed
during the period in which payments are due or pension scheme benefits
are to be credited, Barclays reserves the right to cease further payment
or further crediting of pension scheme benefits.
	 
	14.3	 	For the purposes of clause 14.2 “bonus” will be calculated as:

	 	(a)	 	the average of the annual bonuses which the Executive has
received in respect of the three completed financial years preceding
termination of his employment under clause 14.2 or, if greater, 50%
of his current basic salary; and
	 
	 	(b)	 	an annual bonus under clause 5.2 pro rated for the period of
the financial year until Barclays exercises its discretion to give
notice under clause 14.2, in which case, clause 5.2.2 shall cease to
apply. Payment of such annual bonus will be paid in a lump sum no
later than 31 March following the end of the relevant financial
year.

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	15.	 	RETURN OF BARCLAYS DOCUMENTS
	 
	15.1	 	Upon the termination of his employment for whatever reason, the Executive
shall deliver up to Barclays all vehicles, keys, credit cards,
correspondence, documents, specifications, reports, papers and records
(including any computer material such as discs or tapes) and any other
property of any kind relating to the business of or belonging to any
member of the Barclays Group which may be in his possession or under his
control. The Executive shall also deliver up all copies of such documents,
which he has in his possession or under his control. The Executive shall
be entitled to have reasonable access to Board minutes and documentation
referred to them in respect of a period during which the Executive is a
director of Barclays.
	 
	15.2	 	Following the termination of his employment for whatever reason, the
Executive shall not at any time represent himself as still being connected with
any member of the Barclays Group.
	 
	16.	 	STAFF HANDBOOK
	 
	16.1	 	The employment of the Executive shall also be governed by the terms and
conditions applicable to Barclays staff contained in the Barclays Staff
Handbook ‘You & Barclays’ (as may be amended from time to time) except
where these are inconsistent with, or specifically dealt with by, the
provisions of this Agreement, in which case the provisions of this
Agreement shall apply.
	 
	17.	 	STATUTORY REQUIREMENTS

	17.1	 	The following particulars are given in compliance with the requirements
of Section 1 of the Employment Rights Act 1996.

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	 	17.1.1	 	the employment of the Executive by Barclays began on 29 December
1982. No employment with a previous employer will count as part of
his continuous employment with Barclays.
	 
	 	17.1.2	 	The Executive agrees that the maximum weekly working time as set
out in Regulation 4 of the Working Time Regulations 1998 shall not
apply in relation to his employment because his working time is not
measured or predetermined or can be determined by the Executive.
	 
	 	17.1.3	 	Barclays has a disciplinary and grievance procedure, details of
which are in the staff manual. Barclays’ disciplinary procedure is
not incorporated by reference in this Agreement and therefore does
not form part of the Executive’s contract of employment. If the
Executive has a grievance in relation to his employment or is
dissatisfied with a disciplinary decision against him he may apply
in writing to the Group Chairman whose decision will be final.
	 
	 	17.1.4	 	While the Executive’s initial place of work will be London, he
will work at and/or travel to such places (inside and outside the
United Kingdom) as Barclays may require from time to time provided
that he shall not be required to be based at a location outside a
reasonable commuting distance of his current home address. If the
Executive is required to work outside the UK for a period in excess
of one month, the additional terms that will apply will be notified
to him.
	 
	 	17.1.5	 	There are no collective agreements with any trade unions which
directly affect the terms and conditions of the Executive’s
employment.

	18.	 	NOTICES
	 
	18.1	 	Any notice to be given under this Agreement shall be in writing. Notice
to the Executive shall be sufficiently given by being delivered personally
to him or by being sent by first class post addressed to him at the
address stated in this

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	 	 	Agreement or the last place of residence in the UK
notified to Barclays by the Executive. Notice to Barclays shall be
sufficiently given by being delivered to the Group Secretary or by being
sent by first class post to the registered office of Barclays addressed
for the attention of the Group Secretary. Any notice if posted shall be
deemed served upon the third day following that on which it was posted.
	 
	19.	 	APPLICABLE LAW
	 
	19.1	 	English law shall apply to this Agreement and the parties submit to the
jurisdiction of the English courts.
	 
	20.	 	MISCELLANEOUS
	 
	20.1	 	This Agreement, together with any documents referred to in it, sets out
the whole agreement between the parties relating to and cancels all
previous agreements, representations and arrangements in connection with
the Executive’s employment by Barclays.
	 
	20.2	 	No omission to exercise or delay in exercising any right, power or remedy
provided to Barclays by law or under this Agreement will be a waiver of
it.
	 
	20.3	 	Termination of this Agreement shall not affect any provisions which are
intended to operate after termination.
	 
	20.4	 	For the purposes of the Employment Rights Act 1996 or otherwise, the
Executive hereby consents to the deduction of any sums owing by him to any
Barclays at any time from his salary or any other payment due from
Barclays to the Executive and the Executive hereby also agrees to make a
payment to Barclays of any sums owed by him to Barclays upon demand by
Barclays at any time].

18

 

	20.5	 	During the Executive’s employment, he must comply with Barclay’s policies
and procedures relating to the Data Protection Act 1998. This means that
the Executive consents to Barclays processing any data relating to him,
where it is necessary or reasonably required for the conduct of Barclays
business. This may include personal data as well as documentation
relating to the Executive’s absence from work through sickness or injury.
Further details of the type of data that is covered by this provision can
be found in the Barclays Staff Handbook.
	 
	 
	 
	 
	 	 	IN WITNESS the hands of the parties hereto

	 	 	 
	 	 	
(SIGNED BY a duly

(Authorised signatory for

(And on behalf of Barclays
	SIGNED BY The Executive)	 	 

)

)

19

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