Document:

Rules of Barclays Group Performance Share Plan (2005)

 Exhibit 4.1 
 RULES OF THE BARCLAYS PLC PERFORMANCE SHARE PLAN 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In the Plan: 

 “Adoption Date” means
28 April 2005; 
 “Announcement Date” means the date on which the Company announces its annual, half yearly or, if
relevant, quarterly results in any year within the Operative Period; 
 “Any Other Executive Plan” means any employees’
share scheme approved by the members of the Company in general meeting other than the Plan which provides for the acquisition of or subscription for shares in the Company by or on behalf of selected employees and/or directors and which is not linked
to an SAYE contract; 
 “Any Other Plan” means any employees’ share scheme approved by the Company in general meeting
other than the Plan which provides for the acquisition of or subscription for shares in the Company by or on behalf of employees and/or directors; 
 “Auditors” means the auditors for the time being of the Company or such other independent, suitably qualified person as the Trustees may from time to time nominate; 
 “Award” means subject to clause 2.1(a) and (b) a right to receive or acquire Shares pursuant to the Plan in such form as the
Trustees may decide from time to time and “awarded” shall be construed accordingly; 
 “Award Date” means in
relation to an Award the date specified as such by the Trustees in the Award Letter; 
 “Award Letter” means a letter
containing the information specified in clause 2.2 in such form as may be prescribed from time to time by the Trustees, sent by the Trustees to a Participant informing the Participant of the grant of an Award to him; 
 “BGI” means Barclays Global Investors UK Holdings Limited; 
 “BGI Plan” means the Barclays Global Investors Equity Ownership Plan adopted by the Company on 26 April 2000; 
 “BGI Shares” means “A” Ordinary Shares in the capital of BGI; 
 “Barclays
Bank” means Barclays Bank PLC; 
 “Board” means the board of directors for the time being of the Company or a duly
appointed committee thereof PROVIDED THAT if any person obtains Control of the Company, the Board or the relevant committee as appropriate shall mean the members of the Board or such committee as the case may be immediately before such Control is
obtained; 
 “Company” means Barclays PLC (registered no. 48839); 
 “Control” means control of a company within the meaning of section 840 of the Income and Corporation Taxes Act 1988 and a person
shall be deemed to have control of a company if he and others acting in concert with him have together obtained control of a company within such meaning; 
 “Dealing Day” means a day on which transactions take place on the London Stock Exchange; 

 “Eligible Employee” means an employee of any member of the Group, including such an
employee who is also an executive director; 
 “Employer’s NICs” means secondary Class 1 National Insurance
Contributions; 
 “Employing Company” means any member or members of the Group by which the Participant is or, where the
context so admits, was employed; 
 “Exercise Period” means in relation to an Award in the form of a nil cost option and
subject to clauses 6 and 7 the period determined by the Trustees on the Award Date during which an Award may be exercised in accordance with the Plan PROVIDED THAT the Trustees may not specify a period beginning earlier than three years from the
Award Date nor ending later than ten years from the Award Date; 
 “Exercise Price” means in relation to an Award in the form
of a nil cost option the total amount payable in relation to the exercise of an Award, whether in whole or in part, being £1 or such other amount specified in the Award Letter; 
 “Grant Period” means the period of: 
  

	 	(a)	three months following the Adoption Date; and 

  

	 	(b)	42 Dealing Days following: 

  

	 	(i)	the Dealing Day immediately following an Announcement Date PROVIDED THAT if the Trustees or any Eligible Employees are restricted by statute, order, regulation or otherwise
(including a restriction resulting from the application of the Model Code for transactions in securities by directors or any comparable code adopted by the Company) from granting or in the case of Eligible Employees receiving Awards within such
period, the Trustees may grant Awards within the period of 42 Dealing Days after the lifting of such restrictions; 

  

	 	(ii)	any date on which changes to the legislation affecting executive share award plans (not being savings-related share option plans) is announced or made; or 

 

	 	(iii)	any time when the Trustees, having first consulted the Board, resolve that exceptional circumstances exist which justify the grant of Awards; 

 “Group” means the Company and all of its Subsidiaries and the expression “member of the Group” shall be construed accordingly;

 “London Stock Exchange” means the London Stock Exchange plc; 
 “NIC Agreement” means an irrevocable agreement under which a Participant’s Employing Company may recover from him all or any part of
its liability for Employer’s NICs pursuant to clause 2.10 in such manner as is set out in clause 4; 
 “NIC Election”
means an irrevocable election, in such form as is determined by the Trustees and approved in advance by the Board of the Inland Revenue, for the transfer to the Participant of the whole or any part of the Employing Company’s liability for
Employer’s NICs pursuant to clause 2.10 and the arrangements made in such NIC Election for securing that the Participant will meet the liability transferred to him which shall have been approved in advance by the Board of the Inland Revenue;

 “Operative Period” means the period of ten years commencing on the Adoption Date; 
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 “Participant” means an Eligible Employee who has been granted an Award or, where
applicable, his personal representative; 
 “Plan” means the Barclays PLC Performance Share Plan herein contained as amended
from time to time in accordance with the provisions hereof; 
 “Release Date” means in relation to an Award in the form of a
right to receive Shares the date or dates on which Shares awarded to a Participant may be released to a Participant as described in clause 4 PROVIDED THAT such date (or dates) must be a date (or dates) which is at least three years from the Award
Date 
 “Retirement Date” means the earliest date on which or age at which an Eligible Employee can be required to retire by
any member of the Group; 
 “Shares” means ordinary shares in the capital of the Company (or such other class of shares as
may represent the same as a result of any reorganisation, reconstruction or other variation of the share capital of the Company to which the provisions of the Plan may apply from time to time) PROVIDED THAT if such shares under an Award are to be
released or an Award is exercised at any time when the Trustees do not hold such shares in the Company as a result of a corporate event described in clause 7, references to “Shares” in clauses 4 to 8 inclusive shall include any
consideration received by the Trustees for any such shares which are to be released under an Award or in respect of which an Award is being exercised; 
 “Subsidiary” means any company over which for the time being the Company has Control and which is a subsidiary of the Company within the meaning of section 736 of the Companies Act 1985; 

“Target Award” means the expected value of an Award determined by the Trustees for the purposes of granting an Award to an Eligible
Employee who they have selected in their absolute discretion to participate in the Plan PROVIDED THAT such expected value shall be: 
  

	 	(a)	based on market competitive practice for comparable positions differentiated to reflect individual performance; and 

  

	 	(b)	used by the Trustees having first consulted the Board to determine: 

  

	 	(i)	the objective performance measures applicable to the release of Shares under the Award or exercise of the Award; and 

  

	 	(ii)	the maximum number of Shares over which the Award may be granted; 

 “Trust” means the Barclays Group (PSP) Employees’ Benefit Trust established by the Trust Deed; 
 “Trust Deed” means the trust deed made between Barclays Bank (1) and Mourant & Co Trustees Limited (2) on 5 August 1996 as amended from time to time; 
 “Trustees” means the trustee or trustees for the time being of the Trust; and 
 “UK Listing Authority” means the UK Listing Authority within the meaning given to that expression in the Listing Rules made by the
Financial Services Authority pursuant to its appointment as the relevant competent authority under the Official Listing of Securities (Change of Competent Authority) Regulations 2000. 
  

	1.2	Any reference in the Plan to a statutory provision shall include a reference to that provision as amended or re-enacted from time to time. Where the context permits the singular
shall include the plural and vice versa and the masculine gender shall include the feminine. 

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	1.3	If there is any conflict between the provisions of the Trust Deed and the provisions of the Plan, the provisions of the Trust Deed shall prevail. 

  

	2.	GRANT OF AWARDS 

  

	2.1	Subject to the limitations specified in this clause 2 and in clause 3, the Trustees may, in their absolute discretion, having first consulted the Board, during any Grant Period
grant any Eligible Employee an Award in accordance with the rules of the Plan or on such other terms and conditions and in such other form as the Trustees may determine including: 

  

	 	(a)	a provisional allocation on the basis set out in the Appendix hereto which shall not in any circumstances whatsoever: 

  

	 	(i)	constitute the acquisition by a Participant of an interest in the Shares awarded to him nor a right to acquire the Shares awarded to him; and 

  

	 	(ii)	entitle a Participant to claim any interest in the Trust fund nor to compel the Trustees to pay or apply any of the capital or income comprised in the Trust fund to or for the
benefit of a Participant; or 

  

	 	(b)	an appropriation of Shares subject to such restrictions as may be determined by the Trustees and as set out in an Award Letter which may include restrictions requiring Shares to be
retained by an Eligible Employee for a minimum period of three years, limiting the receipt of dividends and forfeiture for misconduct. Any such Award shall be granted subject to the provisions of the Plan save that clauses 4 to 8 inclusive shall be
adapted as necessary to apply to an Award in the form of an appropriation of Shares. 

  

	2.2	The Trustees shall as soon as reasonably practicable on or after the Award Date notify the Eligible Employee of the grant of the Award in writing in an Award Letter. The Award
Letter shall specify: 

  

	 	(a)	the form of the Award; 

  

	 	(b)	the number of Shares in respect of which the Award is granted or the formula by which such number may be found; 

  

	 	(c)	the Award Date; 

  

	 	(d)	the Release Date or the Exercise Period depending on whether or not the Award is granted in the form of a right to receive Shares or a nil cost option; 

  

	 	(e)	any performance conditions imposed by the Trustees for the purpose of clause 5 which must be satisfied before the Trustees may release Shares under an Award to the Participant or
the Participant may exercise an Award; and 

  

	 	(f)	whether the Participant will be required to enter into either a NIC Agreement or a NIC Election pursuant to clause 2.10. 

  

	2.3	An Eligible Employee to whom an Award is granted may by notice in writing within 30 days after the Award Date (or such shorter period of which he is notified) renounce his
Award entirely so that the Award shall be deemed never to have been granted hereunder, or in part, so that the Award shall be deemed to have been granted only as to the balance. 

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	2.4	The grant of an Award shall be made on the basis that participation in the Plan shall be deemed to constitute an agreement to be bound by the rules of the Plan and shall be
evidenced by a deed in such form as the Trustees may from time to time prescribe. The deed shall be issued as soon as practicable after the last date on which an Eligible Employee may renounce his rights under an Award in accordance with clause 2.3.

  

	2.5	An Award is personal to a Participant and shall not be capable of being transferred or otherwise disposed of by a Participant and, subject to the provisions of clause 6.2, Shares
under an Award may not be released to or exercised by any other person. An Award shall lapse forthwith if it is so transferred or otherwise disposed of by a Participant. 

  

	2.6	There shall be no consideration payable for the grant of an Award. 

  

	2.7	A Participant shall not be entitled to any dividends (or other distributions made) and shall have no right to vote in respect of the Shares subject to his Award, unless and until
Shares under his Award are released to him or transferred to him following the exercise of his Award. 

  

	2.8	A Participant shall be entitled at any time to renounce, surrender, or cancel or agree to the cancellation of an Award. 

  

	2.9	No Award shall be granted under the Plan after the expiry of the Operative Period. 

  

	2.10	If an Award is granted to a Participant and: 

  

	 	(a)	his Employing Company would be liable for Employer’s NICs on any gain made by the Participant on the release of Shares subject to that Award or on the exercise of that Award or
on any other gain made by the Participant in respect of that Award which is treated as remuneration derived from the Participant’s employment by virtue of section 4(4)(a) of the Social Security Contributions Act 1992; and

  

	 	(b)	the Trustees give him written notice that they require him to enter into either a NIC Agreement or a NIC Election, as determined by the Trustees in their absolute discretion, such
notice to be given within three months following the Award Date; 

 the Award shall lapse after a period of 90 days following
the date of such notice unless the Participant completes and executes a NIC Agreement or NIC Election, as specified by the Trustees in such notice, before the expiry of such period. The Employing Company shall confirm to the Trustees whether the NIC
Agreement or NIC Election has been executed and if not, the Award shall lapse. 
  

	3.	LIMITATIONS ON AWARDS 

  

	3.1	No Shares shall be issued to the Trustees to be held for the purposes of the Plan if this will result in the number of Shares which have been issued to the Trustees for such
purposes during the previous ten years when aggregated with any other Shares issued or capable of being issued by way of subscription out of profits and with any other Shares issued or capable of being issued by way of subscription on the vesting or
exercise of awards during the previous ten years under: 

  

	 	(a)	Any Other Plan exceeding ten per cent of the Company’s ordinary share capital then in issue; and 

  

	 	(b)	Any Other Executive Plan exceeding five per cent of the amount of the Company’s ordinary share capital then in issue. 

 PROVIDED THAT for the purpose of applying the limits set out in clauses 3.1(a) and (b) the number of Shares which may be issued to the Trustees to be
held for the purposes of the Plan shall be reduced by the number of notional Shares determined by the Board in the manner set out in clause 3.2. 
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	3.2	For the purposes of the proviso to clause 3.1: 

  

	 	(a)	the Board shall compute the number of BGI Shares which have been acquired on exercise of options granted under the BGI Plan in the relevant period or in respect of which options
under the BGI Plan are currently outstanding (less any BGI Shares issued on the exercise of options granted under the BGI Plan but subsequently purchased by Barclays Bank or any other member of the Group); and 

  

	 	(b)	the Board shall subject to such adjustment or variation as the Board shall in its absolute discretion consider appropriate convert such BGI Shares into a number of notional Shares
by the application in relation to each such acquisition of or grant of options over, BGI Shares of the formula: 

  

					
	 A x B =
	 	D where:	  	
	     C
	 		  	

  

	 	A	is the number of BGI Shares acquired by or under option to each relevant employee; 

  

	 	B	is the price per BGI Share at which such employee acquired or may acquire such number of BGI Shares; 

  

	 	C	is if and for so long as the Shares are admitted to the Official List of the UK Listing Authority the greater of the market value of a Share: 

  

	 	(a)	on the date of grant of such options; and 

  

	 	(b)	on the date of any determination by the Board for the purposes of this clause 3.2, 

 calculated by the Board by reference to the middle-market quotations of a Share as derived from the Daily Official List of the UK Listing Authority or if the Shares are not so admitted on such other basis as the Board
shall determine in its absolute discretion; 
  

	 	D	is the number of notional Shares represented by the BGI Shares acquired in the relevant period or in respect of which options are currently outstanding under the BGI Plan for the
purposes of the proviso to clause 3.1. 

  

	3.3	No Award shall be granted to an Eligible Employee under the Plan if as a result the Target Award for that Award when aggregated with the Target Award for any other Award granted to
such Eligible Employee in the same financial year of the Company would exceed the higher of 150% of such Eligible Employee’s base salary or 75% of such Eligible Employee’s base salary plus target bonus and where relevant, target bonus
shall be determined for these purposes by the Trustees in their absolute discretion having first consulted the Board. 

  

	4.	MANNER OF RELEASE OF SHARES OR EXERCISE OF
AWARDS 

  

	4.1	If the Trustees determine that any the performance conditions imposed by the Trustees on the grant of an Award have been satisfied, and subject to clauses 6 and 7, the Trustees
shall on or within one month after the Release Date release to a Participant the 

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number of Shares available for release under the Award determined in accordance with clauses 5 and 8 in which case: 
  

	 	(a)	the Trustees shall inform the Participant of the release of Shares to him within 28 days of such release; and 

  

	 	(b)	the Participant shall become beneficially entitled to such Shares and shall have the right to receive all dividends paid to the Trustees on such Shares on or after the Release Date
(net of any tax payable on such dividends by the Trustees) and the right to direct the Trustees as to voting in respect of such Shares and the Trustees shall vote in accordance with any such instructions. 

 PROVIDED THAT: 
  

	 	(a)	if the Trustees or a Participant are restricted by statute, order, regulation or otherwise (including a restriction resulting from the application of the Model Code for transactions
in securities by directors or any comparable code adopted by the Company) from releasing or receiving Shares the Trustees shall release the Shares available for release on or within one month after the lifting of such restrictions;

  

	 	(b)	if the Trustees so require, the Participant shall enter into an election to be made jointly with his Employing Company pursuant to section 431 of the Income Tax (Earnings and
Pensions) Act 2003 for the Shares to be treated as if they are not restricted securities for the purposes of Chapter 2, Part 7, Income Tax (Earnings and Pensions) Act 2003; 

  

	 	(c)	subject to clause 4.3, the Participant shall pay in such manner as the Trustees may from time to time prescribe any such additional amount of which the Trustees may notify the
Participant in respect of any deduction on account of tax or similar liabilities as may be required by law which may arise on the release of Shares to him; 

  

	 	(d)	subject to clause 4.3, if the Participant has entered into a NIC Agreement under clause 2.10 the Participant shall pay in such manner as the Trustees may from time to time prescribe
the amount of any Employer’s NICs, of which the Trustees shall notify the Participant, to his Employing Company in accordance with such NIC Agreement; and 

  

	 	(e)	any Shares available for release which are not released on or within one month after the Release Date or such later date for release as provided for under paragraph (a) of this
proviso to clause 6.1 shall cease to be available for release. 

  

	4.2	If the Trustees determine that any performance conditions imposed by the Trustees on the grant of an Award have been satisfied and subject to clauses 6 and 7, an Award may be
exercised on one occasion only by a Participant at any time within its Exercise Period by the Participant giving notice in writing to the Trustees at their registered office in such form as may be prescribed by the Trustees from time to time. Such
notice shall be signed by the Participant and shall specify the number of Shares in respect of which the Award is being exercised. The Participant shall: 

  

	 	(a)	supply with such notice: 

  

	 	(i)	the deed evidencing the grant of the relevant Award for cancellation or amendment; 

  

	 	(ii)	if the Trustees so require, an election signed by the Participant to be made jointly with his Employing Company pursuant to section 431 of the Income 

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Tax (Earnings & Pensions) Act 2003 for the Shares to be treated as if they are not restricted securities for the purposes of Chapter 2, Part 7,
Income Tax (Earnings & Pensions) Act 2003; and 
  

	 	(iii)	any other documentation the Trustees may request; 

  

	 	(b)	pay any Exercise Price for such Shares in such manner as the Trustees may from time to time prescribe; and 

  

	 	(c)	subject to clause 4.3, pay in such manner as the Trustees may from time to time prescribe any such additional amount of which the Trustees may notify the Participant in respect of
any deduction on account of tax or similar liabilities as may be required by law which may arise on exercise of the Award; and 

  

	 	(d)	subject to clause 4.3, if the Participant has entered into a NIC Agreement under clause 2.10 pay in such manner as the Trustees may from time to time prescribe the amount of any
Employer’s NICs, of which the Trustees shall notify the Participant, to his Employing Company in accordance with such NIC Agreement. 

 An Award (or part thereof) shall be deemed to have been exercised on the date when such notice together with a payment of any aggregate Exercise Price due and any such additional amount (or documentation evidencing
arrangements to pay such additional amount), the deed evidencing the grant of an Award and any other documents requested by the Trustees are received by them. 
  

	4.3	The Trustees may sell, or procure the sale of, such number of Shares which have been released to a Participant or in respect of which his Award is exercised to meet any obligation
of the Trustees, any member of the Group [or any other person] to deduct tax, employee’s social security contributions or Employer’s NICs (if the Participant has entered into a NIC Agreement under clause 2.10), arising in respect of the
release of Shares under his Award to the Participant or the exercise of his Award by the Participant. 

  

	4.4	The Trustees shall within 30 days after the date of the release of Shares to a Participant or the exercise of an Award transfer or procure the transfer of the appropriate number of
Shares to the Participant (or to his nominee at the Participant’s written direction) and shall procure delivery to the Participant (or to his nominee, as appropriate) of a definitive share certificate in respect thereof (or such other evidence
of allotment and issue as may be prescribed by the Board where such allotment and issue is by means of a relevant system, as defined in Regulation 2(1) of the Uncertificated Securities Regulations 2001). 

  

	5.	LIMITATIONS ON RELEASE OF SHARES OR EXERCISE OF
AWARDS 

  

	5.1	Without prejudice to the following provisions of this clause 5, and subject as provided in clauses 6 and 7, Shares under an Award may be released to a Participant who has ceased to
be an Eligible Employee or an Award may be exercised by a Participant who has ceased to be an Eligible Employee. 

  

	5.2	Subject to clause 8, the release of Shares under an Award or the exercise of an Award by a Participant and, if relevant, the extent to which the Shares under the Award may be so
released or over which it may be so exercised shall be conditional on the Trustees being satisfied that such performance condition as imposed by them on the Award Date in accordance with clause 2.2 shall have been fulfilled PROVIDED THAT the
Trustees may in their absolute discretion having consulted the Board waive such performance condition if they consider in their absolute discretion that there are exceptional circumstances which would justify such a waiver. 

 

	5.3	Notwithstanding anything in the Plan to the contrary, Shares under an Award shall be actually or constructively received by a Participant by the later of: 

 

	 	 (i)
	 the date that is 2 1/2 months from the end of the Participant’s first taxable year in which the Trustees determine that the performance conditions imposed on the Award have been satisfied;

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	 	 (ii)
	 the date that is 2 1/2 months from the end of the Company’s first taxable year in which the Trustees determine that the performance conditions imposed on the Award have been satisfied.

  

	6.	TIME FOR RELEASE OF SHARES OR EXERCISE OF
AWARDS 

  

	6.1	Subject to clause 5 and unless Shares under an Award may be released before its Release Date or an Award may be exercised before the start of its Exercise Period under clauses 6.2,
6.3 and 6.4 and 7, Shares under an Award may only be released on or within one month after its Release Date or an Award may only be exercised during its Exercise Period. Any Award in respect of which Shares are not so released or which is not so
exercised shall lapse. 

  

	6.2	Subject to clauses 5 and 8, if a Participant dies either the Trustees shall release to his personal representatives the Shares available for release under his Award or as soon as
reasonably practicable or his personal representative(s) may exercise his Award at any time before the earlier of the expiry of its Exercise Period and the expiry of the period of six months from the date of his death. Any Award in respect of which
Shares are not so released or which is not so exercised shall lapse. 

  

	6.3	Subject to clauses 5 and 8, if a Participant ceases to be employed by the Group by reason of: 

  

	 	(a)	injury; 

  

	 	(b)	disability; 

  

	 	(c)	ill health; 

  

	 	(d)	dismissal for redundancy within the meaning of the Employment Rights Act 1996; 

  

	 	(e)	retirement on or after his Retirement Date; 

  

	 	(f)	the company by which he is employed ceasing to be a member of the Group; or 

  

	 	(g)	the undertaking in which he is employed being transferred to a transferee which is not a member of the Group, 

 either the Trustees shall release to the Participant the Shares available for release under his Award on its Release Date or the Participant may exercise
his Award at any time before the earlier of the expiry of its Exercise Period and the later to expire of: six months from the date of such cessation; or six months beginning on the third anniversary of the Award Date PROVIDED THAT if a Participant
ceases to be employed by the Group before the third anniversary of the Award Date other than by reason of retirement on or after his Retirement Date the Trustees may in their absolute discretion having first consulted the Board and depending on the
form of the Award either: 
  

	 	(a)	release the Shares available for release under his Award to the Participant within one month from the date of such cessation; or 

  

	 	(b)	determine that the Award may become exercisable for a period of six months from any date beginning on the date of such cessation up to the third anniversary of such Award Date.

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 Any Award in respect of which Shares are not so released or which is not so exercised shall lapse.

  

	6.4	Subject to clauses 5 and 8, if a Participant ceases to be employed by the Group for any reason other than one of the events specified in clauses 6.2 or 6.3, his Award shall lapse
unless the Trustees in their absolute discretion, having first consulted the Board, determine otherwise in which case either: 

  

	 	(a)	the Trustees shall release to the Participant the Shares available for release under his Award on its Release Date; or 

  

	 	(b)	the Participant may exercise his Award at any time before the earlier of the expiry of its Exercise Period and the later to expire of: six months from the date of such cessation; or
six months beginning on the third anniversary of the Award Date, 

 PROVIDED THAT if a Participant ceases to be employed by the
Group before the third anniversary of the Award Date, the Trustees may in their absolute discretion, having first consulted the Board and depending on the form of the Award, either: 
  

	 	(a)	release the Shares available for release under his Award to the Participant within one month from the date of such cessation; or 

  

	 	(b)	determine that the Award may become exercisable for a period of six months from any date beginning on the date of such cessation up to the third anniversary of such Award Date.

 Any Award in respect of which Shares are not so released or which is not so exercised shall lapse. 
  

	6.5	For the purposes of this clause 6, where a Participant’s employment is terminated without notice or on terms in lieu of notice it shall be deemed to cease on the date on which
the termination takes effect and where such employment is terminated with notice it shall be deemed to cease upon the date on which that notice expires. 

  

	7.	TAKE-OVER AND LIQUIDATION 

  

	7.1	Clause 7.2 shall apply: 

  

	 	(a)	if any person obtains Control of the Company as a result of making: 

  

	 	(i)	a general offer to acquire the whole of the issued share capital of the Company (other than that which is already owned by such person) made on a condition such that if it is
satisfied the person making the offer will have Control of the Company; or 

  

	 	(ii)	a general offer to acquire all the Shares (or such Shares as are not already owned by such person); or 

  

	 	(b)	if under section 425 of the Companies Act 1985 the Court sanctions a compromise or arrangement between the Company and its creditors or its members which, if it becomes effective,
will result in a person obtaining Control of the Company. 

  

	7.2	Subject to clauses 5 and 8, and depending on the form of the Award either: 

  

	 	(a)	the Trustees shall release the Shares available for release under his Award to a Participant during the appropriate period as defined in clause 7.3; or 

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	 	(b)	a Participant may exercise his Award at any time before the earlier of the expiry of its Exercise Period and the expiry of the appropriate period as defined in clause 7.3.

 Any Award in respect of which Shares are not so released or which is not so exercised shall lapse. 
  

	7.3	The appropriate period referred to in clause 7.2 is: 

  

	 	(a)	in a case falling within clause 7.1(a), a period commencing on the date when the person making the offer has obtained Control of the Company and any condition subject to which the
offer is made is satisfied and ending on the earlier of: 

  

	 	(i)	six months after such date; and 

  

	 	(ii)	30 days before the last date on which the person making the offer is permitted to issue a notice pursuant to section 429 of the Companies Act 1985; and

  

	 	(b)	in a case falling within clause 7.1(b), a period of six months commencing with the date when the Court sanctions the compromise or arrangement. 

  

	7.4	Subject to clauses 5 and 8, if the Company gives notice of a general meeting to consider a resolution for the voluntary winding up of the Company (the
“resolution”), and depending on the form of the Award either: 

  

	 	(a)	the Trustees shall release the Shares available for release under his Award to the Participant; or 

  

	 	(b)	a Participant may exercise his Award at any time before the earlier of the expiry of its Exercise Period and the date the resolution is duly passed, defeated or withdrawn,

 PROVIDED THAT any release of Shares under an Award or exercise of an Award pursuant to this clause 7.4 shall be conditional
upon the resolution being duly passed. If the resolution is defeated or withdrawn, the Award shall be unaffected. If the Trustees release the Shares under his Award to a Participant or a Participant exercises his Award pursuant to this clause 7.4 he
shall be entitled to share in the assets of the Company with existing holders of the Shares in the same manner as if the Shares had been registered in his name before the resolution was passed. 
  

	7.5	Subject to clauses 5 and 8, if, in the opinion of the Trustees, the Company will be affected by any demerger, dividend in specie, special dividend or other transaction which will
adversely affect the current or future value of any Award, the Trustees may depending on the form of the Award, acting fairly, reasonably and objectively, release the Shares available for release under all such Awards to Participants on such event
happening or allow all such Awards to be exercised conditionally on such event happening. 

  

	7.6	On the commencement of any liquidation of the Company (subject to clause 7.4 and otherwise than in connection with a compromise or arrangement as referred to in clause 7.1(b))
the Award shall lapse. 

  

	8.	EXTENT TO WHICH SHARES UNDER AN AWARD ARE
AVAILABLE FOR RELEASE OR AN AWARD IS EXERCISABLE ON CESSATION
OF EMPLOYMENT, TAKE-OVER AND LIQUIDATION 

 If pursuant to clauses 6 or 7 either: 
  

	 	(a)	the Trustees may release Shares to a Participant under his Award or; 

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	 	(b)	a Participant is permitted to exercise his Award 

 the
maximum number of Shares which may be released by the Trustees under his Award or over which the Participant may exercise his Award is calculated in accordance with the following formula (rounded down to the nearest whole Share), unless the Trustees
in their absolute discretion, having first consulted the Board, permit him to acquire a greater number of Shares. 
  

					
	 A x B
	  		  	
	        C
	  		  	
			
	Where	  	A =	  	the number of Shares originally subject to the Award;
			
		  	B =	  	the number of completed calendar months which have elapsed from the Award Date (including the calendar month in which the Award Date falls) to: the date of cessation of employment; the time
when Control is obtained under clause 7.1; or the passing of the resolution in 7.4 as the case may be; and
			
		  	C =	  	36

  

	9.	VARIATIONS IN THE SHARE CAPITAL OF THE
COMPANY 

  

	9.1	Subject to clause 9.2, in the event of any increase or variation of the share capital of the Company (whenever effected) by way of capitalisation, rights issue, sub-division,
consolidation or reduction of capital or any other method, the Trustees may make such adjustment as they consider appropriate to the number of Shares subject to any Award. 

  

	9.2	Any adjustment under clause 9.1 shall be subject to the Auditors confirming that such adjustment is in their opinion fair and reasonable. 

  

	9.3	The Trustees shall give notice in writing to a Participant of any adjustment made pursuant to clause 9.1 as soon as practicable following the making of such adjustment. The Trustees
shall be entitled to call in the deed evidencing the grant of an Award affected by such adjustment for endorsement or replacement as they may consider appropriate. 

  

	10.	ADMINISTRATION OF THE PLAN 

  

	10.1	The Plan shall be administered by the Trustees whose decision on any matter connected with the Plan shall be final and binding. 

  

	10.2	The Trustees shall determine any dispute about the rights and obligations of any person under the Plan or any question concerning the construction or effect of the Plan or any other
question in connection with the Plan and their determination shall be final and binding on all persons. 

  

	10.3	The Board may from time to time make recommendations to the Trustees with regard to the making of Awards, the choice of Participants, performance conditions, Release Dates or
Exercise Periods. The Trustees shall consider all such recommendations but shall not be bound to follow such recommendations nor shall the Trustees be required to give reasons for any refusal to follow them. 

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	11.	AMENDMENT OF THE PLAN 

  

	11.1	Subject to clauses 11.2 and 11.4, the Trustees, having first consulted the Board, shall at any time be entitled to amend by resolution all or any of the provisions of the Plan.

  

	11.2	Subject to: 

  

	 	(a)	any adjustment made pursuant to clause 9; and 

  

	 	(b)	clause 11.3; 

 the definitions of “Eligible
Employee”, “Exercise Price” and “Target Award”, the limits in clause 3, clause 9 and this clause 11 and the rights attaching to Shares transferred under the Plan shall not be amended to the advantage of existing or future
Participants without the prior approval by ordinary resolution of the members of the Company in general meeting. 
  

	11.3	Clause 11.2 shall not apply to any amendment which: 

  

	 	(a)	is necessary to take account of a change in legislation or to obtain or maintain favourable taxation, exchange control or regulatory treatment of the Company, any Subsidiary or any
Participant; or 

  

	 	(b)	is a minor amendment which is necessary or desirable to benefit or facilitate the administration of the Plan. 

  

	11.4	No amendment shall be made pursuant to clause 11.1 which would prejudice the subsisting rights of existing Participants in any manner unless it is made: 

  

	 	(a)	with the prior written consent of existing Participants entitled to the release of Shares or to exercise Awards in respect of at least three-quarters of the total number of Shares
over which Awards shall at that time be subsisting; or 

  

	 	(b)	by a resolution at a meeting of such Participants passed by not less than three quarters of the Participants who attend and vote either in person or by proxy,

 and for the purposes of this clause 11.4 the Participants shall be treated as if they are the holders of a separate class of
share capital and the provisions of the articles of association of the Company relating to class meetings shall apply mutatis mutandis. 
  

	11.5	Notwithstanding any other provisions of the Plan the Trustees may, in respect of Awards granted to Eligible Employees who are or may become subject to taxation outside the United
Kingdom on their remuneration, amend the provisions to the Plan and the terms of Awards as they consider necessary or desirable to take account of, mitigate or comply with relevant overseas taxation, securities or exchange control laws PROVIDED THAT
the terms of Awards granted to such Eligible Employees are not overall more favourable than those of Awards granted to other Eligible Employees. 

  

	12.	GENERAL PROVISIONS 

  

	12.1	Terms of office or employment 

 The rights and
obligations of any Participant under the terms of his office or employment with any member of the Group shall not be affected by his participation in the Plan or any right which he may have to participate in it. The Plan shall not entitle a
Participant to any right to continued employment or any additional right to compensation in consequence of the termination of his employment. 
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	12.2	Tax and other similar liabilities 

 Any liability of
a Participant to taxation or social security contributions or similar liabilities in respect of an Award shall be for the account of the relevant Participant. The Trustees may make an Award and the transfer of Shares pursuant to it conditional on
the Participant complying with arrangements specified by the Trustees for the payment of any taxation, employee’s social security contributions or employer’s social security obligations (including, without limitation, the deduction of
taxation at source). 
  

	12.3	Auditors as experts 

 In any matter in which they
are required to act under the Plan, the Auditors shall be deemed to be acting as experts and not as arbitrators. 
  

	12.4	Notices 

 Any notice or other communication under or
in connection with the Plan may be given by personal delivery electronically or by sending the same by post in the case of a company to its registered office, in the case of the Trustees, to their registered address and in the case of an individual
to his last known address, or, where he is a director or employee of any member of the Group, either to his last known address or to the address of the place of business at which he performs the whole or substantially the whole of the duties of his
office or employment. Where a notice or other communication is given by first-class post, it shall be deemed to have been received 48 hours after it was put into the post properly addressed and stamped. 
  

	12.5	Regulation 

 Every Award shall be subject to the
condition that no Shares shall be released to or transferred to a Participant following the release of Shares under Award or the exercise of an Award if such release or transfer would be contrary to any enactment or regulation for the time being in
force of the United Kingdom or any other country having jurisdiction in relation thereto. The Trustees shall not be bound to take any action to obtain the consent of any government or authority to such transfer or to take any action to ensure that
any such transfer shall be in accordance with any enactment or regulation if such action could in the opinion of the Trustees be unduly onerous. 
  

	12.6	Data Protection provisions 

  

	 	(a)	The Company and the Trustees will store and process information about a Participant on their computers and in other ways. By “information about a Participant” the Company
and the Trustees mean personal information they have obtained from the Participant, the Group employing company and any other Group companies or other organisations in anticipation of a Participant’s participation in the Plan and during the
term of the Plan. 

  

	 	(b)	The Company and the Trustees will use information about a Participant to manage and administer the Plan, give the Participant information about the Plan and his Award, to develop
and improve their services to the Participant and other customers and to protect their interests. The Trustees agrees to apply the same levels of protection to information about a Participant as the Company is required to apply in the UK.

  

	 	(c)	The Company and the Trustees may give information about a Participant and his participation in the Plan to the following: 

  

	 	(i)	a Participant’s Group employing company and it agents or service providers where disclosure is necessary to enable the Company or the 

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Trustees to discharge their duties and obligations in the management and administration of the Plan (including any disclosure of information as may be
necessary to enable the Group employing company to comply with the requirements of any relevant tax, social security or other governmental authority). (For the purposes of this clause “Group employing company” includes any company or other
entity of the Group which may become the Participant’s employer during the term of the Plan and any other company or entity which has a duty to comply with any requirements imposed any relevant tax, social security or other governmental
authority in connection with his participation in the Plan.) 
  

	 	(ii)	people who provide a service to the Company or the Trustees or are acting as their agents on the understanding that they will keep the information confidential.

  

	 	(iii)	anyone to whom the Company or the Trustees transfers or may transfer its rights and duties under the Plan. 

  

	 	(iv)	where the Company or the Trustees has a duty to do so or if the law allows the Company or the Trustees to do so (including any relevant tax, social security or other governmental
authority) 

 Otherwise the Company and the Trustees will keep information about a Participant confidential. 
  

	 	(d)	If the Company or the Trustees transfer your information about a Participant to a service provider or agent in another country, they will procure that the service provider or agent
agrees to apply the same levels of protection as the Company and the Trustees are required to apply in the UK and other EU jurisdictions and to use information about a Participant only for the purpose of providing the service to the Company or the
Trustees. 

  

	12.7	Governing law 

 The Plan shall be governed and
construed in accordance with English law. 
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 APPENDIX 
 APPENDIX TO THE PLAN FOR THE GRANT OF PROVISIONAL
ALLOCATIONS 
 Effect and Purpose 
 This Appendix shall take effect as if the rules of the Plan were set out herein as modified to apply to an Award in the form of the provisional allocation granted under clause 2.1(a) of the Plan. 
  

 - 16 - 

 CONTENTS 
  

					
	 CLAUSE
	 	 	 	PAGE NO
	1.	 	DEFINITIONS AND INTERPRETATION	 	1
			
	2.	 	GRANT OF AWARDS	 	4
			
	3.	 	LIMITATIONS ON AWARDS	 	5
			
	4.	 	MANNER OF RELEASE OF SHARES OR EXERCISE OF
AWARDS	 	6
			
	5.	 	LIMITATIONS ON RELEASE OF SHARES OR EXERCISE OF
AWARDS	 	8
			
	6.	 	TIME FOR RELEASE OF SHARES OR EXERCISE OF
AWARDS	 	9
			
	7.	 	TAKE-OVER AND LIQUIDATION	 	10
			
	8.	 	EXTENT TO WHICH SHARES UNDER AN AWARD ARE AVAILABLE
FOR RELEASE OR AN AWARD IS EXERCISABLE ON CESSATION OF EMPLOYMENT,
TAKE-OVER AND LIQUIDATION	 	11
			
	9.	 	VARIATIONS IN THE SHARE CAPITAL OF THE COMPANY	 	12
			
	10.	 	ADMINISTRATION OF THE PLAN	 	12
			
	11.	 	AMENDMENT OF THE PLAN	 	13
			
	12.	 	GENERAL PROVISIONS	 	13
		
	APPENDIX TO THE PLAN FOR THE GRANT OF
PROVISIONAL ALLOCATIONS	 	16

 BARCLAYS PLC 
 RULES 
 of the 
 BARCLAYS PLC 
 PERFORMANCE SHARE PLAN 
 

 
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 APPENDIX TO THE RULES OF
THE BARCLAYS PLC PERFORMANCE SHARE PLAN APPLICABLE TO 
 THE GRANT OF PROVISIONAL ALLOCATIONS UNDER CLAUSE 2.1(A) OF THE
PLAN 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In the Plan: 

 “Adoption Date” means
28 April 2005; 
 “Announcement Date” means the date on which the Company announces its annual, half yearly or, if
relevant, quarterly results in any year within the Operative Period; 
 “Any Other Executive Plan” means any employees’
share scheme approved by the members of the Company in general meeting other than the Plan which provides for the acquisition of or subscription for shares in the Company by or on behalf of selected employees and/or directors and which is not linked
to an SAYE contract; 
 “Any Other Plan” means any employees’ share scheme approved by the Company in general meeting
other than the Plan which provides for the acquisition of or subscription for shares in the Company by or on behalf of employees and/or directors; 
 “Auditors” means the auditors for the time being of the Company or such other independent, suitably qualified person as the Trustees may from time to time nominate; 
 “Award” means a provisional allocation of Shares granted pursuant to clause 2.1(a) the Plan and “awarded” shall be construed
accordingly; 
 “Award Date” means in relation to an Award the date specified as such by the Trustees in the Award Letter;

 “Award Letter” means a letter containing the information specified in clause 2.2 in such form as may be prescribed from
time to time by the Trustees, sent by the Trustees to a Participant informing the Participant of the grant of an Award to him; 
 “BGI” means Barclays Global Investors UK Holdings Limited; 
 “BGI Plan” means the Barclays Global
Investors Equity Ownership Plan adopted by the Company on 26 April 2000; 
 “BGI Shares” means “A” Ordinary
Shares in the capital of BGI; 
 “Barclays Bank” means Barclays Bank PLC; 
 “Board” means the board of directors for the time being of the Company or a duly appointed committee thereof PROVIDED THAT if any person
obtains Control of the Company, the Board or the relevant committee as appropriate shall mean the members of the Board or such committee as the case may be immediately before such Control is obtained; 
 “Company” means Barclays PLC (registered no. 48839); 
 “Control” means control of a company within the meaning of section 840 of the Income and Corporation Taxes Act 1988 and a person shall be deemed to have control of a company if he and others
acting in concert with him have together obtained control of a company within such meaning; 
 “Dealing Day” means a day on
which transactions take place on the London Stock Exchange; 

 “Eligible Employee” means an employee of any member of the Group, including such an
employee who is also an executive director; 
 “Grant Period” means the period of: 
  

	 	(a)	three months following the Adoption Date; and 

  

	 	(b)	42 Dealing Days following: 

  

	 	(i)	the Dealing Day immediately following an Announcement Date PROVIDED THAT if the Trustees or any Eligible Employees are restricted by statute, order, regulation or otherwise
(including a restriction resulting from the application of the Model Code for transactions in securities by directors or any comparable code adopted by the Company) from granting or in the case of Eligible Employees receiving Awards within such
period, the Trustees may grant Awards within the period of 42 Dealing Days after the lifting of such restrictions; 

  

	 	(ii)	any date on which changes to the legislation affecting executive share award plans (not being savings-related share option plans) is announced or made; or 

 

	 	(iii)	any time when the Trustees, having first consulted the Board, resolve that exceptional circumstances exist which justify the grant of Awards; 

 “Group” means the Company and all of its Subsidiaries and the expression “member of the Group” shall be construed accordingly;

 “London Stock Exchange” means the London Stock Exchange plc; 
 “Operative Period” means the period of ten years commencing on the Adoption Date; 
 “Participant” means an Eligible Employee who has been granted an Award or, where applicable, his personal representative; 
 “Plan” means the Barclays PLC Performance Share Plan approved by shareholders on the Adoption Date and as constituted by its rules;

 “Release Date” means the date (or dates) specified in an Award Letter being a date (or dates) which is at least three
years from the Award Date unless the Trustees determine otherwise on or after which Shares awarded to a Participant may in the absolute discretion of the Trustees be released to a Participant; 
 “Retirement Date” means the earliest date on which or age at which an Eligible Employee can be required to retire by any member of the
Group; 
 “Shares” means ordinary shares in the capital of the Company (or such other class of shares as may represent the
same as a result of any reorganisation, reconstruction or other variation of the share capital of the Company to which the provisions of the Plan may apply from time to time) PROVIDED THAT if such shares under an Award are to be released at any time
when the Trustees do not hold such shares in the Company as a result of a corporate event described in clause 9, references to “Shares” in clauses 3, and 5 to 10 inclusive shall include any consideration received by the Trustees for any
such shares under an Award which may otherwise have been released; 
 “Subsidiary” means any company over which for the time
being the Company has Control and which is a subsidiary of the Company within the meaning of section 736 of the Companies Act 1985; 
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 “Target Award” means the expected value of an Award determined by the Trustees for the
purposes of granting an Award to an Eligible Employee who they have selected in their absolute discretion to participate in the Plan PROVIDED THAT such expected value shall be: 
  

	 	(a)	based on market competitive practice for comparable positions differentiated to reflect individual performance; and 

  

	 	(b)	used by the Trustees having first consulted the Board to determine: 

  

	 	(i)	the objective performance measures applicable to the release of Shares under the Award; and 

  

	 	(ii)	the maximum number of Shares over which the Award may be granted; 

 “Trust” means the Barclays Group (PSP) Employees’ Benefit Trust established by the Trust Deed; 
 “Trust Deed” means the trust deed made between Barclays Bank (1) and Mourant & Co Trustees Limited (2) on 5 August 1996 as amended from time to time; 
 “Trustees” means the trustee or trustees for the time being of the Trust; and 
 “UK Listing Authority” means the UK Listing Authority within the meaning given to that expression in the Listing Rules made by the
Financial Services Authority pursuant to its appointment as the relevant competent authority under the Official Listing of Securities (Change of Competent Authority) Regulations 2000. 
  

	1.2	Any reference in the Plan to a statutory provision shall include a reference to that provision as amended or re-enacted from time to time. Where the context permits the singular
shall include the plural and vice versa and the masculine gender shall include the feminine. 

  

	1.3	If there is any conflict between the provisions of the Trust Deed and the provisions of the Plan, the provisions of the Trust Deed shall prevail. 

  

	2.	GRANT OF AWARDS 

  

	2.1	Subject to the limitations specified in this clause 2 and in clause 4, the Trustees may in their absolute discretion having first consulted the Board during any Grant Period grant
any Eligible Employee an Award in accordance with the rules of the Plan or on such other terms and conditions as the Trustees may determine. 

  

	2.2	The Trustees shall as soon as reasonably practicable on or after the Award Date notify the Eligible Employee of the grant of the Award in writing in an Award Letter. The Award
Letter shall specify: 

  

	 	(a)	the number of Shares in respect of which the Award is granted or the formula by which such number may be found; 

  

	 	(b)	the Award Date; 

  

	 	(c)	the Release Date; and 

  

	 	(d)	any performance conditions imposed by the Trustees for the purpose of clause 5 which must be satisfied before the Trustees may consider releasing Shares under an Award to the
Participant. 

  

	2.3	The grant of an Award shall not in any circumstances whatsoever: 

  

	 	(a)	constitute the acquisition by a Participant of an interest in the Shares awarded to him, or the acquisition of a right to acquire the Shares awarded to him; or

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 - 3 - 

	 	(b)	entitle a Participant to claim any interest in the Trust Fund or to compel the Trustees to pay or apply any of the capital or income comprised in the Trust Fund to or for the
benefit of a Participant. 

  

	2.4	Until their release on the Release Date, a Participant shall have no interest in the Shares subject to his Award. A Participant shall not be entitled to any dividends or other
distributions made in respect of the Shares awarded to him. A Participant shall have no right to vote in respect of the Shares subject to his Award, unless and until Shares under his Award are released to him. There shall be no consideration payable
for the grant of an Award. 

  

	2.5	No Award shall be granted under the Plan after the expiry of the Operative Period. 

  

	3.	DIVIDENDS 

  

	3.1	The Trustees may, in their absolute discretion, apply any dividends (net of any tax payable in respect of such dividends by the Trustees) which they receive in respect of any Shares
which are available for release under any Award to purchase further Shares. 

  

	3.2	The Trustees may in their absolute discretion release such further Shares acquired pursuant to paragraph 3.1 (or Shares received by the Trustees as a result of the Trustees electing
to receive any scrip dividend offered by Barclays) to a Participant at the same time as the release of any Shares available for release on the Release Date. 

  

	4.	LIMITATIONS ON AWARDS 

  

	4.1	No Shares shall be issued to the Trustees to be held for the purposes of the Plan if this will result in the number of Shares which have been issued to the Trustees for such
purposes during the previous ten years when aggregated with any other Shares issued or capable of being issued by way of subscription out of profits and with any other Shares issued or capable of being issued by way of subscription on the release of
Shares awarded or exercise of options granted during the previous ten years under: 

  

	 	(a)	Any Other Plan exceeding ten per cent of the Company’s ordinary share capital then in issue; and 

  

	 	(b)	Any Other Executive Plan exceeding five per cent of the amount of the Company’s ordinary share capital then in issue. 

 PROVIDED THAT for the purpose of applying the limits set out in clauses 4.1(a) and (b) the number of Shares which may be issued to the Trustees to be
held for the purposes of the Plan shall be reduced by the number of notional Shares determined by the Board in the manner set out in clause 4.2. 
  

	4.2	For the purposes of the proviso to clause 4.1: 

  

	 	(a)	the Board shall compute the number of BGI Shares which have been acquired on exercise of options granted under the BGI Plan in the relevant period or in respect of which options
under the BGI Plan are currently outstanding (less any BGI Shares issued on the exercise of options granted under the BGI Plan but subsequently purchased by Barclays Bank or any other member of the Group); and 

  

	 	(b)	the Board shall subject to such adjustment or variation as the Board shall in its absolute discretion consider appropriate convert such BGI Shares into a number

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 - 4 - 

	 	 
of notional Shares by the application in relation to each such acquisition of or grant of options over, BGI Shares of the formula:

  

	
	 A x B  = D where:

	     C

  

					
	A	  	is the number of BGI Shares acquired by or under option to each relevant employee;
		
	B	  	is the price per BGI Share at which such employee acquired or may acquire such number of BGI Shares;
		
	C	  	is if and for so long as the Shares are admitted to the Official List of the UK Listing Authority the greater of the market value of a Share:
			
		  	(a)	  	on the date of grant of such options; and
			
		  	(b)	  	on the date of any determination by the Board for the purposes of this clause 4.2,
		
		  	calculated by the Board by reference to the middle-market quotations of a Share as derived from the Daily Official List of the UK Listing Authority or if the Shares are not so
admitted on such other basis as the Board shall determine in its absolute discretion;
		
	D	  	is the number of notional Shares represented by the BGI Shares acquired in the relevant period or in respect of which options are currently outstanding under the BGI Plan for the
purposes of the proviso to clause 4.1.

  

	4.3	No Award shall be granted to an Eligible Employee under the Plan if as a result the Target Award for that Award when aggregated with the Target Award for any other Award granted to
such Eligible Employee in the same financial year of the Company would exceed the higher of 150% of such Eligible Employee’s base salary or 75% of such Eligible Employee’s base salary plus target bonus and where relevant, target bonus
shall be determined for these purposes by the Trustees in their absolute discretion having first consulted the Board. 

  

	5.	RELEASE OF SHARES AND RELEASE OF SHARES ON
THE RELEASE DATE 

  

	5.1	Subject to clauses 5.4 and 5.5, the Trustees shall on any Release Date if either a Participant ceases to be employed by a member of the Group as described in clause 7 or there is a
corporate event as described in clause 8, determine in their absolute discretion having first consulted the Board whether or not: 

  

	 	(a)	in relation to clauses 4.2 and 8 only the Participant is an employee of the Barclays Group; and 

  

	 	(b)	any performance conditions set when the Award was granted pursuant to clause 2.2 (or such other performance condition which may be set from time to time by the Trustees after
consultation with the Board) have been satisfied PROVIDED THAT the Trustees may in their absolute discretion having consulted the Board waive such performance conditions if they consider in their absolute discretion that there are exceptional
circumstances which would justify such a waiver. 

  

	5.2	Subject to clauses 5.4 and 5.5, if the Trustees determine on any Release Date that clauses 5.1(a) and, if relevant, (b) are satisfied, the Trustees may in their absolute

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 - 5 - 

	 	 
discretion release to the Participant in accordance with clause 6 the number of Shares specified in the Award Letter as available for release to the
Participant on or as soon as reasonably practicable after the relevant Release Date, including any Shares acquired by the Trustees as described in clause 3. 

  

	5.3	Subject to clauses 5.4 and 5.5, if the Trustees determine on any Release Date that clauses 5.1(a) and if relevant (b) are not satisfied, the Trustees may in their absolute
discretion release to the Participant in accordance with clause 6: 

  

	 	(a)	the number of Shares specified as available for release to the Participant on or after the Release Date together with any Shares acquired by the Trustees pursuant to clause 3; or

  

	 	(b)	a lower number of such Shares; or 

  

	 	(c)	no Shares at all. 

  

	5.4	If the Trustees or a Participant are restricted by statute, order, regulation or otherwise (including a restriction resulting from the application of the Model Code for transactions
in securities by directors or any comparable code adopted by the Company) from releasing or receiving Shares the Trustees shall only consider the release of Shares to a Participant on or within one month after the lifting of such restrictions;

  

	5.5	Notwithstanding anything in the Plan to the contrary Shares under Award shall be actually or constructively received by a Participant by the later of: 

  

	 	 (a)
	 the date that is 2 1/2 months from the end of the Participant’s first taxable year in which Trustees determine in their absolute discretion to release Shares under an Award to the Participant; or

  

	 	 (b)
	 the date that is 2 1/2 months from the end of the Company’s first taxable year in which the Trustees determine in their absolute discretion to release Shares under an Award to the Participant.

  

	6.	MANNER OF RELEASE OF SHARES AND RIGHTS OF A
PARTICIPANT ON RELEASE 

  

	6.1	If the Trustees determine that Shares shall be released to a Participant pursuant to clauses 5, 8 or 9, the Trustees shall as soon as reasonably practicable release to a Participant
the number of Shares available for release under the Award determined in accordance with clauses 5, 8, 9 and 10 in such form and manner as the Trustees shall from time to time prescribe in which case: 

  

	 	(a)	the Trustees shall inform the Participant of the release of Shares to him within 28 days of such release; and 

  

	 	(b)	the Participant shall from the date of such determination become beneficially entitled to such Shares and shall have the right to receive all dividends paid to the Trustees on such
Shares on or after their release (net of any tax payable on such dividends by the Trustees) and the right to direct the Trustees as to voting in respect of such Shares and the Trustees shall vote in accordance with any such instructions.

 PROVIDED THAT: 
  

	 	(a)	if the Trustees so require, the Participant shall enter into an election to be made jointly with his Employing Company pursuant to section 431 of the Income Tax (Earnings and
Pensions) Act 2003 for the Shares to be treated as if they are not restricted securities for the purposes of Chapter 2, Part 7, Income Tax (Earnings and Pensions) Act 2003; 

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 - 6 - 

	 	(b)	subject to clause 6.2, the Participant shall pay in such manner as the Trustees may from time to time prescribe any such additional amount of which the Trustees may notify the
Participant in respect of any deduction on account of tax or similar liabilities as may be required by law which may arise on the release of Shares to him; and 

  

	 	(c)	any Shares which are not so released shall cease to be available for release. 

  

	6.2	The Trustees may sell, or procure the sale of, such number of Shares which have been released to a Participant or in respect of which his Award is exercised to meet any obligation
of the Trustees, any member of the Group or any other person to deduct tax or employee’s social security contributions arising in respect of the release of Shares under his Award to the Participant. 

  

	6.3	The Trustees shall within 30 days after the date of the release of Shares to a Participant transfer or procure the transfer of the appropriate number of Shares to the Participant
(or to his nominee at the Participant’s written direction) and shall procure delivery to the Participant (or to his nominee, as appropriate) of a definitive share certificate in respect thereof (or such other evidence of allotment and issue as
may be prescribed by the Board where such allotment and issue is by means of a relevant system, as defined in Regulation 2(1) of the Uncertificated Securities Regulations 2001). 

  

	7.	LIMITATION ON RELEASE OF SHARES 

 Subject to clauses 5, 8 and 9, Shares under an Award may be released to a Participant who has ceased to be an Eligible Employee. 
  

	8.	RELEASE OF SHARES ON CESSATION OF EMPLOYMENT

  

	8.1	Subject to clauses 5.1, 5.4, 5.5 and 10 unless Shares under an Award may be released before its Release Date under clauses 8.2, 8.3, 8.4 and 9, Shares under an Award may only be
released on or as soon as reasonably practicable after its Release Date. Any Award in respect of which Shares are not so released shall lapse. 

  

	8.2	Subject to clauses 5.1, 5.4, 5.5 and 10, if a Participant dies the Trustees may having first consulted the Board release to the Participant’s personal representatives, his wife
(or her husband), children under the age of 18 or step-children under the age of 18 the Shares available for release under his Award as soon as reasonably practicable after the Participant’s death in accordance with clause 6. Any Award in
respect of which Shares are not so released shall lapse. 

  

	8.3	Subject to clauses 5.1, 5.4, 5.5 and 10, if a Participant ceases to be employed by the Group by reason of: 

  

	 	(a)	injury; 

  

	 	(b)	disability; 

  

	 	(c)	ill health; 

  

	 	(d)	dismissal for redundancy within the meaning of the Employment Rights Act 1996; 

  

	 	(e)	retirement on or after his Retirement Date; 

  

	 	(f)	the company by which he is employed ceasing to be a member of the Group; or 

  

	 	(g)	the undertaking in which he is employed being transferred to a transferee which is not a member of the Group, 

 Lovells 
  

 - 7 - 

 the Trustees may having first consulted the Board release to the Participant the Shares available for
release under his Award on or after the Release Date in accordance with clause 6 PROVIDED THAT if a Participant ceases to be employed by the Group before the Release Date other than by reason of retirement on or after his Retirement Date the
Trustees may in their absolute discretion having first consulted the Board release the Shares available for release under his Award to the Participant as soon as reasonably practicable after the date of such cessation. Any Award in respect of which
Shares are not so released shall lapse. 
  

	8.4	Subject to clauses 5.1, 5.4, 5.5 and 10, if a Participant ceases to be employed by the Group for any reason other than one of the events specified in clauses 8.2 or 8.3, his Award
shall lapse unless the Trustees in their absolute discretion, having first consulted the Board, determine otherwise in which case the Trustees may release to the Participant the Shares available for release under his Award on or after the Release
Date in accordance with clause 6 PROVIDED THAT if a Participant ceases to be employed by the Group before the Release Date, the Trustees may in their absolute discretion, having first consulted the Board release the Shares available for release
under his Award to the Participant as soon as reasonably practicable after the date of such cessation. Any Award in respect of which Shares are not so released or which is not so exercised shall lapse. 

  

	8.5	For the purposes of this clause 8, where a Participant’s employment is terminated without notice or on terms in lieu of notice it shall be deemed to cease on the date on which
the termination takes effect and where such employment is terminated with notice it shall be deemed to cease upon the date on which that notice expires. 

  

	9.	TAKE-OVER AND LIQUIDATION 

  

	9.1	Clause 9.2 shall apply: 

  

	 	(a)	if any person obtains Control of the Company as a result of making: 

  

	 	(i)	a general offer to acquire the whole of the issued share capital of the Company (other than that which is already owned by such person) made on a condition such that if it is
satisfied the person making the offer will have Control of the Company; or 

  

	 	(ii)	a general offer to acquire all the Shares (or such Shares as are not already owned by such person); or 

  

	 	(b)	if under section 425 of the Companies Act 1985 the Court sanctions a compromise or arrangement between the Company and its creditors or its members which, if it becomes effective,
will result in a person obtaining Control of the Company. 

  

	9.2	Subject to clauses 5.1, 5.4, 5.5 and 10, the Trustees may release the Shares available for release under his Award to a Participant at any time during the appropriate period as
defined in clause 9.3. Any Award in respect of which Shares are not so released shall lapse. 

  

	9.3	The appropriate period referred to in clause 9.2 is: 

  

	 	(a)	in a case falling within clause 9.1(a), a period commencing on the date when the person making the offer has obtained Control of the Company and any condition subject to which the
offer is made is satisfied and ending on the earlier of: 

  

	 	(i)	six months after such date; and 

 Lovells 
  

 - 8 - 

	 	(ii)	30 days before the last date on which the person making the offer is permitted to issue a notice pursuant to section 429 of the Companies Act 1985; and

  

	 	(b)	in a case falling within clause 9.1(b), a period of six months commencing with the date when the Court sanctions the compromise or arrangement. 

  

	9.4	Subject to clauses 5.1, 5.4, 5.5 and 10, if the Company gives notice of a general meeting to consider a resolution for the voluntary winding up of the Company (the
“resolution”) the Trustees shall release the Shares available for release under his Award to the Participant PROVIDED THAT any release of Shares under an Award pursuant to this clause 9.4 shall be conditional upon the resolution
being duly passed. If the resolution is defeated or withdrawn, the Award shall be unaffected. If the Trustees release the Shares under his Award to a Participant pursuant to this clause 9.4 he shall be entitled to share in the assets of the Company
with existing holders of the Shares in the same manner as if the Shares had been registered in his name before the resolution was passed. 

  

	9.5	Subject to clauses 5.1, 5.4, 5.5 and 10, if, in the opinion of the Trustees, the Company will be affected by any demerger, dividend in specie, special dividend or other transaction
which will adversely affect the current or future value of any Award, the Trustees may depending on the form of the Award, acting fairly, reasonably and objectively, release the Shares available for release under all such Awards to Participants on
such event happening. 

  

	9.6	On the commencement of any liquidation of the Company (subject to clause 9.4 and otherwise than in connection with a compromise or arrangement as referred to in clause 9.1(b))
the Award shall lapse. 

  

	10.	EXTENT TO WHICH SHARES UNDER AN AWARD MAY
BE AVAILABLE FOR RELEASE ON CESSATION OF EMPLOYMENT, TAKE-OVER AND
LIQUIDATION 

 If pursuant to clauses 8 or 9 the Trustees may release Shares to a Participant
under his Award the maximum number of Shares which may be released by the Trustees under his Award is calculated in accordance with the following formula (rounded down to the nearest whole Share), unless the Trustees in their absolute discretion,
having first consulted the Board, permit him to acquire a greater number of Shares. 
  

	
	 A x B

	        C

  

					
	Where	 	A =	  	the number of Shares originally subject to the Award;
			
		 	B =	  	the number of completed calendar months which have elapsed from the Award Date (including the calendar month in which the Award Date falls) to: the date of cessation of employment; the time when
Control is obtained under clause 9.1; or the passing of the resolution in 9.6 as the case may be; and
			
		 	C =	  	36.

  

	11.	VARIATIONS IN THE SHARE CAPITAL OF THE
COMPANY 

  

	11.1	Subject to clause 11.2, in the event of any increase or variation of the share capital of the Company (whenever effected) by way of capitalisation, rights issue, sub-division,
consolidation or reduction of capital or any other method, the Trustees may make such adjustment as they consider appropriate to the number of Shares subject to any Award. 

 Lovells 
  

 - 9 - 

	11.2	Any adjustment under clause 11.1 shall be subject to the Auditors confirming that such adjustment is in their opinion fair and reasonable. 

  

	11.3	The Trustees shall give notice in writing to a Participant of any adjustment made pursuant to clause 11.1 as soon as practicable following the making of such adjustment. The
Trustees shall be entitled to call in the deed evidencing the grant of an Award affected by such adjustment for endorsement or replacement as they may consider appropriate. 

  

	12.	ADMINISTRATION OF THE PLAN 

  

	12.1	The Plan shall be administered by the Trustees whose decision on any matter connected with the Plan shall be final and binding. 

  

	12.2	The Trustees shall determine any dispute about the rights and obligations of any person under the Plan or any question concerning the construction or effect of the Plan or any other
question in connection with the Plan and their determination shall be final and binding on all persons. 

  

	12.3	The Board may from time to time make recommendations to the Trustees with regard to the making of Awards, the choice of Participants, performance conditions or Release Dates. The
Trustees shall consider all such recommendations but shall not be bound to follow such recommendations nor shall the Trustees be required to give reasons for any refusal to follow them. 

  

	13.	AMENDMENT OF THE PLAN 

  

	13.1	Subject to clause 13.2, the Trustees, having first consulted the Board, shall at any time be entitled to amend by resolution all or any of the provisions of the Plan.

  

	13.2	Subject to: 

  

	 	(a)	any adjustment made pursuant to clause 11; and 

  

	 	(b)	clause 13.3; 

 the definitions of “Eligible
Employee” and “Target Award”, the limits in clause 4, clause 11 and this clause 13 and the rights attaching to Shares transferred under the Plan shall not be amended to the advantage of existing or future Participants without the
prior approval by ordinary resolution of the members of the Company in general meeting. 
  

	13.3	Clause 13.2 shall not apply to any amendment which: 

  

	 	(a)	is necessary to take account of a change in legislation or to obtain or maintain favourable taxation, exchange control or regulatory treatment of the Company, any Subsidiary or any
Participant; or 

  

	 	(b)	is a minor amendment which is necessary or desirable to benefit or facilitate the administration of the Plan. 

  

	13.4	Notwithstanding any other provisions of the Plan the Trustees may, in respect of Awards granted to Eligible Employees who are or may become subject to taxation outside the United
Kingdom on their remuneration, amend the provisions to the Plan and the terms of Awards as they consider necessary or desirable to take account of, mitigate or comply with relevant overseas taxation, securities or exchange control laws PROVIDED THAT
the terms of Awards granted to such Eligible Employees are not overall more favourable than those of Awards granted to other Eligible Employees 

 Lovells 
  

 - 10 - 

	14.	GENERAL PROVISIONS 

  

	14.1	Terms of office or employment 

 The rights and
obligations of any Participant under the terms of his office or employment with any member of the Group shall not be affected by his participation in the Plan or any right which he may have to participate in it. The Plan shall not entitle a
Participant to any right to continued employment or any additional right to compensation in consequence of the termination of his employment. 
  

	14.2	Tax and other similar liabilities 

 Any liability of
a Participant to taxation or social security contributions or similar liabilities in respect of an Award shall be for the account of the relevant Participant. The Trustees may make an Award and the transfer of Shares pursuant to it conditional on
the Participant complying with arrangements specified by the Trustees for the payment of any taxation, employee’s social security contributions or employer’s social security obligations (including, without limitation, the deduction of
taxation at source). 
  

	14.3	Auditors as experts 

 In any matter in which they
are required to act under the Plan, the Auditors shall be deemed to be acting as experts and not as arbitrators. 
  

	14.4	Notices 

 Any notice or other communication under or
in connection with the Plan may be given by personal delivery, electronically or by sending the same by post in the case of a company to its registered office, in the case of the Trustees, to their registered address and in the case of an individual
to his last known address, or, where he is a director or employee of any member of the Group, either to his last known address or to the address of the place of business at which he performs the whole or substantially the whole of the duties of his
office or employment. Where a notice or other communication is given by first-class post, it shall be deemed to have been received 48 hours after it was put into the post properly addressed and stamped. 
  

	14.5	Regulation 

 Every Award shall be subject to the
condition that no Shares shall be released to or transferred to a Participant following the release of Shares under Award if such release or transfer would be contrary to any enactment or regulation for the time being in force of the United Kingdom
or any other country having jurisdiction in relation thereto. The Trustees shall not be bound to take any action to obtain the consent of any government or authority to such transfer or to take any action to ensure that any such transfer shall be in
accordance with any enactment or regulation if such action could in the opinion of the Trustees be unduly onerous. 
  

	14.6	Data Protection provisions 

  

	 	(a)	The Company and the Trustees will store and process information about a Participant on their computers and in other ways. By “information about a Participant” the Company
and the Trustees mean personal information they have obtained from the Participant, the Group employing company and any other Group companies or other organisations in anticipation of a Participant’s participation in the Plan and during the
term of the Plan. 

  

	 	(b)	The Company and the Trustees will use information about a Participant to manage and administer the Plan, give the Participant information about the Plan 

 Lovells 
  

 - 11 - 

	 	 
and his Award, to develop and improve their services to the Participant and other customers and to protect their interests. The Trustees agrees to apply the
same levels of protection to information about a Participant as the Company is required to apply in the UK. 

  

	 	(c)	The Company and the Trustees may give information about a Participant and his participation in the Plan to the following: 

  

	 	(i)	a Participant’s Group employing company and it agents or service providers where disclosure is necessary to enable the Company or the Trustees to discharge their duties and
obligations in the management and administration of the Plan (including any disclosure of information as may be necessary to enable the Group employing company to comply with the requirements of any relevant tax, social security or other
governmental authority). (For the purposes of this clause “Group employing company” includes any company or other entity of the Group who may become the Participant’s employer during the term of the Plan and any other company or
entity which has a duty to comply with any requirements imposed any relevant tax, social security or other governmental authority in connection with his participation in the Plan.) 

  

	 	(ii)	people who provide a service to the Company or the Trustees or are acting as their agents on the understanding that they will keep the information confidential.

  

	 	(iii)	anyone to whom the Company or the Trustees transfers or may transfer its rights and duties under the Plan. 

  

	 	(iv)	where the Company or the Trustees has a duty to do so or if the law allows the Company or the Trustees to do so (including any relevant tax, social security or other governmental
authority) 

 Otherwise the Company and the Trustees will keep information about a Participant confidential. 
  

	 	(d)	If the Company or the Trustees transfer information about a Participant to a service provider or agent in another country, they will procure that the service provider or agent
agrees to apply the same levels of protection as the Company and the Trustees are required to apply in the UK and other EU jurisdictions and to use information about a Participant only for the purpose of providing the service to the Company or the
Trustees. 

  

	14.7	Governing Law 

 The Plan shall be governed and
construed in accordance with English law. 
 Lovells 
  

 - 12 - 

 CONTENTS 
  

					
	 CLAUSE
	 	 	  	PAGE NO
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	1
			
	 2.
	 	GRANT OF AWARDS	  	3
			
	 3.
	 	DIVIDENDS	  	4
			
	 4.
	 	LIMITATIONS ON AWARDS	  	4
			
	 5.
	 	RELEASE OF SHARES AND RELEASE OF SHARES ON THE
RELEASE DATE	  	5
			
	 6.
	 	MANNER OF RELEASE OF SHARES AND RIGHTS OF A
PARTICIPANT ON RELEASE	  	6
			
	 7.
	 	LIMITATION ON RELEASE OF SHARES	  	7
			
	 8.
	 	RELEASE OF SHARES ON CESSATION OF EMPLOYMENT	  	7
			
	 9.
	 	TAKE-OVER AND LIQUIDATION	  	8
			
	 10.
	 	EXTENT TO WHICH SHARES UNDER AN AWARD MAY BE
AVAILABLE FOR RELEASE ON CESSATION OF EMPLOYMENT, TAKE-OVER AND
LIQUIDATION	  	9
			
	 11.
	 	VARIATIONS IN THE SHARE CAPITAL OF THE COMPANY	  	9
			
	 12.
	 	ADMINISTRATION OF THE PLAN	  	10
			
	 13.
	 	AMENDMENT OF THE PLAN	  	10
			
	 14.
	 	GENERAL PROVISIONS	  	11

 BARCLAYS PLC 
 APPENDIX TO THE 
 RULES 
 of the 
 BARCLAYS PLC 
 PERFORMANCE SHARE PLAN

 APPLICABLE TO THE GRANT OF PROVISIONAL
ALLOCATIONS 
 UNDER CLAUSE 2.1(a) OF THE PLAN

 

 
 LovellsEmployment Contract and Assignment Agreement - Frederik Seegers

 Exhibit 4.42 
 DATED 7th June 2006 
 GRACECHURCH SERVICES CORPORATION 
 (a subsidiary of Barclays Bank PLC) 
 - and - 
 FREDERIK SEEGERS 
  

 EMPLOYMENT CONTRACT and ASSIGNMENT AGREEMENT 
  

  

 This Agreement is made the seventh day of June 2006 
 BETWEEN: 
  

	(1)	GRACECHURCH SERVICES CORPORATION of 200 Park Avenue, New York, NY 10166 (the Company); and; 

  

	(2)	FREDERIK SEEGERS, (you). 

 “Employment” means your
employment on the terms of this Employment Contract (“Contract”) and Assignment Agreement. 
 For the avoidance of doubt, in the event of a
conflict between the terms of this Employment Contract and Assignment Agreement and those of any schedule attached, the schedule shall take precedence. 
  

	1.	PRE-EMPLOYMENT CONDITIONS 

  

	1.1	Your Employment is subject to and conditional upon the completion of pre-employment medical, receipt of references to our reasonable satisfaction and credit checks, approval by the
FSA, and you having lawful authority to work in the United Kingdom. These recruitment procedures will be carried out by or on behalf of Barclays. You will be notified when these conditions have been satisfied prior to your resignation from your
current employment (with the exception of FSA approval, which requires you to be in employment to be obtained). 

  

	1.2	You hereby warrant that as at the Start Date (as hereinafter defined): 

  

	 	(a)	you will not be precluded or restricted by virtue of any term of any agreement, undertaking or court order from entering into this Contract or undertaking or properly performing any
of the duties of your Employment with Barclays; 

	 	(b)	you will be entitled to work in the UK without any additional approvals or consents and you will notify Barclays immediately if you cease to be so. 

  

	2.	APPOINTMENT AND TERM 

 This Contract shall take
effect on the date this Contract and Assignment Agreement are signed by you. Your Employment and period of continuous employment will start on a date to be agreed with Barclays in writing and shall be a date on which you are lawfully able to
commence employment and properly perform all of your duties without breach of any legal obligation to any third party (the “Start Date”). 
  

	3.	TERMINATION 

  

	3.1	The Company may terminate your Employment at any time for any reason, or for no reason, upon twelve (12) months’ prior written notice to you and you may terminate your
Employment at any time upon six (6) months’ prior written notice to the Company; provided, however, that the Company may elect to place you on paid leave for no more than six (6) months of the applicable notice period, and provided
further, that if your Employment is terminated by the Company for Cause, then your Employment may be terminated immediately without any prior notice or payment to you (other than any amounts required to be paid to you under applicable law).

  

	3.2	“Cause” shall mean a fair dismissal for gross misconduct as defined by English law. 

  

	3.3	 In addition to being able to terminate your Employment for Cause without giving the prior notice contemplated by Section 3.1, the Company may terminate your
Employment without prior notice upon making an immediate payment to you of an amount equal to one year’s total annual compensation (12 months’ salary and other benefits and annual bonus as defined in clause 3.4 below) in equal installments
at such time(s) as you would have received such payment(s) of basic salary had you been 

 
required to work for the whole of such period (unless you continue Employment elsewhere within the Barclays Group, in which event no payment will be due to
you). For the avoidance of doubt any amount payable under this clause shall be less appropriate deductions and withholdings as required by law. You acknowledge and accept your obligation to mitigate your loss by seeking comparable new employment. If
you commence alternative employment or your services are employed during the period in which payments are due, the Company reserves the right to cease further payment. 
  

	3.4	For the purposes of clause 3.3, “bonus” will be calculated as: 

  

	 	(a)	the mean average value of the annual bonuses which you have received in respect of the three completed financial years preceding termination of your Employment under clause 3.3
above or, If you have been employed for less than three years, the average of those bonuses you have received; and 

  

	 	(b)	an annual bonus under clause 5.1 of the Assignment Agreement pro rated for the period of the financial year until the date on which the Company exercises its discretion to give
notice under clause 3 of the Employment Contract or, if later, the date on which you cease to provide services to the Barclays Group provided that this shall be no later than the date you cease employment Payment of annual bonus will be made in a
lump sum no later than 28 February following the end of the relevant financial year. 

  

	3.5	If your Employment is terminated or you are given notice of termination at any time except for Cause, and clause 3.3 does not apply, you will in addition to any other payments owing
to you receive a full bonus for the financial year in which your Employment is terminated. The bonus shall be calculated as an average of the annual bonus you have received pursuant to clause 5.1 of the Assignment Agreement in the preceding 3 years
or if you have been employed for less than 3 years the average of those bonuses you have received. 

	3.6	If your authority, duties, responsibilities or title either under your Employment or your Assignment are at any time materially diminished you shall be entitled to provide written
notice of the immediate termination of your employment and shall be entitled to receive, payable as a debt, a sum equivalent to that payable should the Company exercise its rights pursuant to clause 3.3. 

  

	3.7	On termination for whatever reason of your Employment within the Barclays Group, you will deliver to the Company all papers, tapes and records (in whatever medium) relating to your
Employment and all property of the Barclays Group in your possession or under your control and resign any appointments as director that you may hold in any Barclays Group company. 

  

	4.	DUTIES 

 You shall perform such duties and exercise
such powers in relation to the business of the Company and those companies which are (or which become during the term of this Contract) subsidiaries or associated companies of Barclays PLC (the “Barclays Group”) as may reasonably be
assigned to or vested in you from time to time and which are consistent with your present scope and breadth of duties and your status, and you will at all times and in all respects comply with the reasonable directions made by the applicable members
of the Barclays Group. By signing this letter, you accept Employment by the Company and agree to faithfully serve the Barclays Group and to devote your full working time and efforts, to the best of your ability, experience and talent, to the
performance of services, duties and responsibilities in connection therewith. It may become necessary to require you to work in different divisions, sections or offices of the applicable members of the Barclays Group. You may also at some time in
the future be asked to work in an overseas office and you agree not to unreasonably refuse such request subject to agreement of relocation terms for you and your dependants. By accepting this offer of Employment you acknowledge your acceptance of
this obligation of flexibility. 
  

	5.	REMUNERATION 

 The Company shall pay you a gross
base salary at the annual rate of £700,000 which will be reviewed annually at the same time as the majority of other executive directors. This will be paid to you monthly into a Barclays Bank account and shall be subject to such deductions and
withholdings as required by law. On the recommendation of an entity to which you are assigned, your gross salary during your assignment may be increased. 
  

	6.	BENEFITS 

  

	6.1	In consideration for the other provisions governing your Employment, you agree not to participate in any employee benefit plan or arrangement maintained or sponsored by Barclays
Bank PLC (or any of its past, present or future divisions or affiliates) in the United States, including, without limitation, plans not yet established. Accordingly, you agree to voluntarily make a one-time irrevocable election to not participate in
any such plans or arrangements and you further agree to release the Barclays Group and affiliated entities and individuals from any claims you may ever have in relation to such waiver (in the form of the waiver and release attached hereto as
Schedule 2), with the exception of: 

  

	 	6.1.1	membership of the Barclays International CIGNA Plan (which, for the avoidance of doubt, shall cover your spouse and dependent children); and 

  

	 	6.1.2	participation in the Barclays Aetna Dental Plan (which, for the avoidance of doubt, shall cover your spouse and dependent children). 

  

	6.2	The Company shall procure life insurance for you during your Employment delivering death benefits of four times your salary upon your death. 

	6.3	The Company will provide you with retirement benefits through a non-pensionable salary supplement of 25% gross of base salary (subject to such deductions and withholdings which may
be required by law) or direct contributions to the alternative pension arrangement of your choice, provided such arrangement shall be approved by Barclays, which shall not unreasonably withhold its consent. You may change your choice of pension
arrangement at any time by giving one month’s notice to the Company. 

  

	7.	LEGAL FEES 

 The Company shall, within 14 days of
receipt by it of an appropriate copy VAT invoice addressed to you but payable by the Company, pay to your solicitors, Taylor Wessing, your legal expenses relating to your exit from your old employer and the negotiation and preparation of this
Contract of £25,000 plus VAT and an additional sum to your New York lawyers, Outten Golden, of US $3,000. 
  

	8.	CONFIDENTIAL INFORMATION 

 During the term of this
Contract and at all times thereafter, you shall not (without the Company’s prior written consent or as specifically provided in any Barclays Group Assignment Agreement to which you are a party) disclose or make accessible to any other person or
entity any Confidential information pertaining to the business of any member of the Barclays Group, except (i) in accordance with the terms of any Barclays Group Assignment Agreement to which you are a party, or (ii) when required to do so
by applicable law. “Confidential Information” shall mean non-public information concerning the financial data, business plans, product development (or other proprietary inventions, improvements or product data), customer lists and other
non-public, proprietary and confidential information of any member of the Barclays Group, which has come to your knowledge during the course of your Employment by the Company or the course of your Assignment pursuant to any Barclays Group Assignment
Agreement to which you are party, that is not otherwise available to the public. Except as required by law, you will not publicly disclose the contents of this Contract or any Barclays Group Assignment Agreement to which you are a party, save to
your professional advisers for the purposes of taking advice and to your spouse or partner. However, nothing in this Contract or any Assignment Agreement will operate to prohibit you from providing truthful information concerning the Barclays Group
to governmental, regulatory or self-regulatory authorities. 

	9.	MISCELLANEOUS 

  

	9.1	If any provision of this Contract shall be declared to be invalid or unenforceable, in whole or in part, such invalidity or unenforceability shall not affect the remaining
provisions hereof which shall remain in full force and effect. 

  

	9.2	This Contract shall be binding and inure to the benefit of the heirs and representatives of you and the assigns and successors of the Company, but neither this Contract nor any
rights or obligations hereunder shall be assignable or otherwise subject to hypothecation by you (except by will or by operation of the laws of intestate succession) or by the Company, except that the Company may assign this Contract to any member
of the Barclays Group or to any successors (whether by merger, purchase or otherwise) to all or substantially all of the stock, assets or businesses of the Company. 

  

	9.3	Where the context of this Contract requires, the respective rights and obligations of the parties shall survive any termination or expiration of the term of your Employment.

  

	9.4	This Contract shall take precedence over and control in the event of any conflict between this Contract and any of the Company’s plan documents or program documents.

	9.5	The respective rights and obligations of the parties hereunder shall survive any termination of this Contract to the extent necessary to the intended preservation of such rights and
obligations. The provisions of this Clause are in addition to the survivorship provisions of any other section of this Contract. 

  

	10.	GOVERNING LAW 

 Save in relation to the references
to English law, this Contract will be construed, interpreted and governed in accordance with the laws of the State of New York; provided, however, in the event that any Assignment Agreement to which you are party provides that the laws of any
jurisdiction other than the State of New York shall apply to such Assignment Agreement, such provision in the Assignment Agreement shall control with respect to the Assignment Agreement. The parties agree that the courts and employment tribunals of
England and Wales are to have exclusive jurisdiction to settle any disputes which may arise in connection with this Contract. 
  

	11.	ENTIRE AGREEMENT 

 This Contract, together with the
Assignment Agreement attached, constitute the entire agreement between you and the Company with respect to the subject matter hereof, and may only be amended by a written agreement between you and the Company. 
  

			
	 Signed by a duly authorised signatory on
 behalf of:

	
	 Gracechurch Services Corporation

	 200 Park Avenue

	 New York, NY 10166

		
	 By:
	 	 

		
	 Date:
	 	7 June 2006

  

 I accept the offer of employment and agree to this Contract’s terms. 
  

			
		
	Name:	 	 /s/ Frederik Seegers

		
	Date:	 	7 June 2006
	
	Frederik Seegers

  

 ASSIGNMENT AGREEMENT 
 Dear Mr Frederik Seegers 
 1. General Terms 
 This Agreement sets forth the terms governing your assignment (your “Assignment”) to Barclays Bank PLC in the UK. During your Assignment, the terms of your employment contract (as such may be amended from
time to time, your “Contract”) with Gracechurch Services Corporation (the “Company”) will apply. You will also remain an employee of the Company and will be subject to the ultimate right of the Company to direct and control your
activities provided that your duties are always commensurate with your status; however, you will be seconded to Barclays Bank PLC. Capitalized terms not otherwise defined herein will have the same meanings as set forth in the Contract. 

2. Term 
 This Agreement shall be effective as of the Start Date
(subject to you maintaining your required work authorisation and any required regulatory qualifications and permissions), and shall terminate on the earlier of (a) the date your Employment with the Company terminates, or (b) the date
Barclays Bank PLC terminates your Assignment. 
 3. Duties During Assignment 
 You will be employed as Chief Executive Officer, Global Retail and Commercial Banking. Your duties as a director of Barclays PLC and Barclays Bank PLC are subject to the Articles of Association of the relevant company
for the time being. You shall perform your duties primarily from Barclays Bank PLC’s facilities at 1 Churchill Place, Canary Wharf, London, UK, or such other locations you may reasonably be assigned to by Barclays Bank PLC. However, by signing
this Agreement, you acknowledge and agree that from time to time, in the ordinary course of Barclays Bank PLC’s business, you will be required to travel, and you hereby agree to undertake such travel. 

 4. Salary 
 Your
salary will be as set out in clause 5 of your Employment Contract. 
 5. Incentives 
  

	5.1	Subject to clause 3.5 of the Employment Contract Barclays Bank PLC operates a discretionary bonus scheme for its employees. The Company may, on the recommendation of Barclays Bank
PLC, make a bonus payment to you. Any such payment will be contingent upon your performance of your duties hereunder in accordance with the standards reasonably established by the management of Barclays Bank PLC. Entitlement to any discretionary
bonus is subject to your continuing to be employed by a member of the Barclays Group without any notice of termination of your Employment being in effect at the time that payment is due to be made or shares are due to be released.

  

	5.2	You may also be considered for awards under the Barclays PLC Executive Share Award Scheme and the Barclays PLC Performance Share Plan in the performance years after 2006. The 2006
performance year is addressed in Schedule 1. 

 6. Benefits 
 In accordance with Barclays Bank PLC’s and/or the Company’s generally applicable policies and procedures: 
  

	6.1	You 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 of no less
than £8,800 per annum, which will be payable subject to income tax and National insurance contributions, as appropriate. 

	6.2	If the Board decides in its discretion to operate and so long as you satisfy the eligibility criteria, you may participate in either or both of the Barclays Group SAYE Share Option
Scheme (“Sharesave”) and the Barclays PLC Share Incentive Plan (“Sharepurchase”) in accordance with the rules of the schemes. 

  

	6.3	Participation in any insurance scheme is conditional on you satisfying any applicable requirements of the insurers and your participation may be excluded where in Barclays
reasonable opinion your health or age is such that cover can only be provided on the basis that exceptionally high premiums are imposed or levied by the insurer. 

  

	6.4	Holidays 

  

	 	6.4.1	During your Employment, in addition to UK Bank and UK Public Holidays, you 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. Your holiday dates must be agreed with the Group Chief Executive. Regulation 15(1- 4) of the Working Time Regulations 1998 (dates on which leave is taken) do not apply. You may not carry
forward any unused part of your holiday entitlement to a subsequent holiday year without the written consent of your manager and subject to 6.4.2 you will not be paid in lieu of any accrued yet untaken holiday. 

  

	 	 6.4.2
	 If your Employment begins or ends during a holiday year, your holiday entitlement will be recalculated as 2.5 days’
holiday for each completed month worked in the year. If on termination of your Employment you have taken less holiday than your accrued entitlement, you will be paid salary in lieu of any accrued untaken holiday. If you have taken more holiday than
accrued entitlement, you will have to repay to Barclays any salary received in excess of your proportionate holiday entitlement One day’s holiday pay will be deemed to be 1/260th of your annual basic salary. 

	 	6.4.3	Barclays reserves the right to require you to take any outstanding holiday during any period of notice of termination of your Employment or to make a payment in lieu of that
outstanding holiday. 

 7. Sickness or Injury 
  

	7.1	If you are prevented by reason of illness or injury from performing your duties in full you shall report this fact promptly by telephone on the first morning of absence or as soon
as reasonably practical thereafter. You must complete a self-certification sickness form on your return. If the absence continues for five or more working days you shall provide an appropriate medical certificate from your doctor in the manner
required by the rules of the Company and thereafter submit a further appropriate medical certificate at weekly intervals during the whole period of absence. 

  

	7.2	If you are unable to perform your duties in full by reason of illness or injury then you shall be entitled during that time to receive your full salary and other benefits, inclusive
of any entitlement to Statutory Sick Pay (SSP) you may have. 

 8. Termination of Employment Due to Death 
 In the event of a termination of your Employment due to death, your estate will receive the proceeds of life insurance in the amount of four times your salary. In such an
event, your estate will receive no further payments of salary or bonus save as has already accrued to the date of death. The Company will exercise reasonable discretion in making a payment to your estate equivalent to the pro-rated bonus you would
have earned for that part of the current performance year for which you were employed. 

 9. Taxes 
 You will be
responsible for actual employee taxes incurred in respect of your Company sourced and personal income, and shall indemnify and hold the Company and all of the members of the Barclays Group harmless from any losses they may suffer as a result of your
failing to pay any taxes you are obligated to pay. 
 10. Compliance 
 While on Assignment, you are required to comply with any rules and regulations of any authority which regulates the business of any member of the Barclays Group in any relevant jurisdiction, including the Barclays
Group Share Dealing Code. Any breach or cumulative breaches about which you have received prior warning of such rules or regulations which cannot be remedied could lead to termination of your Assignment and/or your Employment with the Company
(without notice or any additional payments). In addition, you will be required to comply with Barclays Bank PLC’s standards for work performance and business conduct at all times, and any failure or cumulative failures about which you have
received prior written warning on your part to do so will be handled under the terms of Barclays Bank PLC’s disciplinary procedure by Barclays Bank PLC’s local management. 

 11. Intellectual Property 
  

	11.1	You will promptly disclose to Barclays Bank PLC and keep confidential all inventions, processes, copyright works, designs, technical know-how or any other materials whatsoever
conceived, developed or made by you at any time in the course of your Employment (whether or not conceived, developed or made during normal working hours and whether before or after the date of this Agreement and whether or not alone or in
conjunction with others) (the “Works”). You acknowledge that all Works and all Intellectual Property rights therein shall belong to and vest in Barclays Bank PLC absolutely. 

  

	11.2	You will hold all such Works and Intellectual Property rights in trust for Barclays Bank PLC to the extent that the Works and all Intellectual Property rights therein may not be and
until the Works and all Intellectual Property rights therein are vested absolutely in Barclays Bank PLC. You assign to Barclays Bank PLC all current and future copyright, database rights and design rights in the Works and any other proprietary
rights capable of assignment by way of present assignment of future rights for the full term of such rights. 

  

	11.3	You unconditionally and irrevocably waive your rights to be identified as the author of the Works and not to have the Works subject to derogatory treatment.

  

	11.4	You will do everything necessary or desirable at Barclays Bank PLC expense to vest the Works and Intellectual Property rights fully in Barclays Bank PLC and/or to secure patent or
other appropriate forms of protection for the Intellectual Property rights in the Works. Decisions as to the protection or exploitation of any of the Works and the intellectual Property rights therein shall be in the absolute discretion of Barclays.

 12. Nondisclosure of Confidential Information 
  

	12.1	During the term of your Assignment you shall not (without the prior written consent of the Chief Executive of Barclays Bank PLC) disclose or make accessible to any other person or
entity any Confidential Information pertaining to the business of Barclays Bank PLC or any member of the Barclays Group, except (i) while assigned to Barclays Bank PLC, in the business of and for the benefit of Barclays Bank PLC, or
(ii) when required to do so by applicable law. “Confidential Information” shall mean non-public information concerning the financial data, business plans, product development (or other proprietary inventions, improvements or product
data), customer lists and other non-public, proprietary or confidential information of Barclays Bank PLC and each other member of the Barclays Group, which has come to your knowledge during the course of your Employment by the Company or during the
course of your Assignment, and that is not otherwise available to the public. Except as required by law, you will not publicly disclose the contents of this Agreement save to your spouse or partner. 

  

	12.2	On termination for whatever reason of your Assignment, upon direction you (or your personal representative) will deliver to Barclays Bank PLC all papers, tapes and records (in
whatever medium) relating to your Assignment and all property of Barclays Bank PLC and each other member of the Barclays Group that is in your possession or under your control. 

 13 Restrictive Covenants 
  

	 	13.1	You shall not without the prior written consent of the Board of Barclays Bank PLC (such consent to be withheld only so far as may be reasonably necessary to protect the legitimate
interests of the Barclays Group) either on your own behalf or on behalf of any other person, firm or company: 

  

	 	13.1.1	for a period of 6 months from the date of termination of your Employment (for any reason) be engaged or interested (whether as a director, shareholder, principal, consultant, agent,
partner or employee) in any business within the European Union or the United States of America 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 your Employment terminates; and 

	 	13.1.2	for a period of 12 months from the termination of your Employment for any reason (on your own account or on behalf of any person, firm or 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 your Employment and
with whom you had material dealings in respect of banking facilities or other products or services provided by the Barclays Group during that period; and 

  

	 	13.1.3	for a period of 12 months from the termination of your Employment for any reason (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 you had material dealings in the 12 months prior to the termination of your Employment. 

  

	 	13.2	You agree that the provisions of this Section are reasonable and further agree that if a final judicial determination is made by a court of competent jurisdiction that the duration
or any other restriction contained in this Section is an unenforceable restriction against you, the provisions of this Section shall not be rendered void but shall be deemed amended to apply to such maximum extent as such court may judicially
determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Section is unenforceable, and such restriction cannot be amended so as to make it enforceable, such finding
shall not affect the enforceability of any of the other restrictions contained herein. You agree that any breach of the agreements contained in this Section would irreparably injure the Company and Barclays Bank PLC. Accordingly, the Company and/or
Barclays Bank PLC (and/or any of their respective successors or assigns) may, in addition to pursuing any other remedies they may have in law or in equity, obtain an injunction against you restraining your further violation of this Agreement.

 14. Governing Law and Dispute Resolution 
 This Assignment, which may only be amended by written agreement of the parties hereto, shall, save in relation to the references to English law, be construed, interpreted and governed in accordance with the laws of
the State of New York and that the courts and employment tribunals of England and Wales are to have exclusive jurisdiction to settle any disputes which may arise in connection with this Agreement and/or your Assignment. 
 Please confirm your consent to this Agreement’s terms by signing and dating the attached copy of this letter, and forwarding it to me. 
  

			
	Sincerely,
	
	Gracechurch Services Corporation
	200 Park Avenue
	New York, NY 10166
		
	By:	 	 

	
	Date: 7 June 2006

 I accept the Assignment and agree to this Agreement’s terms. 

			
		
	Name:	 	 /s/ Frederik Seegers

		 	Frederik Seegers
	
	Date: 7th June 2006

 Schedule 1 
  

	1.	This schedule forms part of the Assignment Agreement between Barclays Bank PLC and Frederik Seegers and, unless otherwise specified, all terms in this Schedule shall have the same
meaning as the same terms in that Agreement and Employment Contract. 

  

	2.	Provided that at the date a payment or request is due to be made your Employment has commenced and: 

  

	 	(i)	your Employment has not been terminated for Cause; nor 

  

	 	(ii)	have you ceased Employment voluntarily or given Barclays notice of termination of your Employment, save in circumstances where you are entitled to claim that you have been
constructively dismissed as defined by English law, 

 you shall be entitled to: 
  

	 	(a)	in respect of the 2006 performance year: 

  

	 	(i)	receive a cash bonus of £1,200,000 payable no later than 28 February 2007; and 

  

	 	(ii)	a request from Barclays (the “Request”) to the Barclays Group Share Schemes Committee (the “Committee”), on or before 31 March 2007 that the Committee
recommend to the Trustees of the Barclays Group (ESAS) Employees’ Benefit Trust (the “Trustees”) the grant of an award, pursuant and subject to the rules of the Barclays PLC Executive Share Award Scheme (“ESAS”), of ordinary
shares in Barclays PLC with an aggregate market value on the date of grant of £400,000; 

	 	(b)	a request by Barclays to the Committee as soon as practicable and in any event within 7 days of the Start Date, that the Committee recommend to the Trustees of the Barclays Group
(PSP) Employees’ Benefit Trust the grant of an initial allocation of performance shares, pursuant and subject to the rules of the Barclays PLC Performance Share Plan, with a net fair value equivalent of £1,000,000 as at the date of the
award. 

  

	 	(c)	in respect of the ‘buy-out’ of your forfeited share awards and benefits: 

  

	 	(i)	a cash payment of £3,408,000 to be made as soon as practicable after and in any event within 7 days of your Start Date; and 

  

	 	(ii)	a request by Barclays to the Committee, as soon as practicable after and in any event within 7 days of the Start Date, that the Committee recommend to the Trustees that:

  

	 	(A)	an award be made to you over Barclays PLC shares (“Shares”) under the Joiners Share Award Plan (“JSAP”) with a value up to £5,086,000 as at the date of the
award; and that 

  

	 	(B)	the Shares subject to this award be released as follows: 

  

	 	(I)	80% in June 2007; 

  

	 	(II)	10% in June 2008; and 

  

	 	(III)	10% in June 2009; and 

	 	(C)	that this JSAP award and recommended release dates are subject to the rules of the JSAP, provided that: 

  

	 	(i)	notwithstanding the rules of JSAP, Barclays will recommend to the Committee that you should only forfeit your JSAP award in the circumstances described at 2(i) and 2(ii) above; and,
that, for the avoidance of doubt, 

  

	 	(ii)	if any event occurs under Rule 9 of the JSAP rules (Takeover, reconstruction and winding up of Barclays) Barclays will recommend to the Committee that all unreleased Shares should
be released to you. 

  

	3.	Any obligation upon the Barclays Group in clauses 2(a)(ii), 2(b), and 2(c)(ii) of this Schedule to make any request in any event within 7 days shall be subject to compliance with
any dealing restrictions applicable to the Barclays Group at that time, provided that the request shall be made as soon as practicable after such dealing restrictions cease to apply. 

 Any award paid or made in satisfaction of this Schedule will be paid less deductions for income tax and social security. 

 Schedule 2 
 WAIVER AND RELEASE 
 Barclays Services Corporation 
 200 Park Avenue 
 New York, NY 10166 
  

	1.	I, Frederik Seegers, an employee of Gracechurch Services Corporation (“GSC”), hereby voluntarily make a one-time irrevocable election to not participate in any employee
benefit plan or arrangement maintained or sponsored by Barclays Bank PLC (or any of its past, present or future divisions or affiliates) (the “Bank”) in the United States, including, without limitation, plans not yet established, the
Barclays Bank PLC Thrift Savings Plan (the “Thrift Plan”), and the Barclays Bank PLC USA Staff Pension Plan (the “Pension Plan”) (collectively, the “Plans”). Accordingly, I also hereby irrevocably elect to have no
contributions made by GSC on my behalf to the Thrift Plan, and to receive no benefit accruals under the Pension Plan or any other retirement Plan (including Plans not yet established) for the duration of my employment with GSC (and its divisions and
affiliates). I understand that this means that I will never be entitled to any benefits under the Plans, and if I should die after a period of service of five years, or if I would have become vested for any other reasons as set forth in any pension
Plans, my spouse will not be entitled to any survivor benefits under such Plans. In exchange for my not participating in the Plans, I will be provided with the benefits described in a separate agreement between GSC and me. I understand that this
election may not be revoked. 

  

	2.	In exchange for the benefits described in a separate agreement between myself and GSC, I do hereby release and forever discharge the Plans and their related trusts, the Bank,
Barclays Capital and all of its and/or their past, present and/or future divisions, affiliates, officers, directors, stockholders, trustees, employees, agents, representatives, administrators, attorneys, insurers, fiduciaries, successors and
assigns, in their individual and/or representative capacities (hereinafter collectively referred to as the “Barclays Group”), from any and all causes of action, suits, agreements, promises, damages, disputes, controversies, contentions,
differences, judgments, claims and demands of any kind whatsoever (“Claims”) which I or my spouse, heirs, executors, administrators, successors and assigns ever had, now have or may have against the Barclays Group, whether known or unknown
to me, by reason of my voluntary and irrevocable election not to participate in the Plans, other than a claim that GSC has failed to comply with any obligations set forth in the separate agreement Such released Claims include, without limitations,
any and all claims under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, as amended, the Employee Retirement Income Security Act of 1974, as amended, the New York State Human Rights Law, the New York City
Human Rights Law, and any and all claims under state contract or tort law. 

  

	3.	I have read this Waiver and Release carefully, have been given at least 21 days to consider all of its terms, have been advised to consult with an attorney and any other advisors of
my choice, and fully understand that by signing below I am giving up any right which I may have to sue or bring any other Claims against the Barclays Group with respect to my voluntary and irrevocable election not to participate in the Plans. I have
not been forced or pressured in any manner whatsoever to sign this Waiver and Release, and I agree to all of its terms voluntarily. 

  

	4.	I understand that I have seven days from the date I have signed this Waiver and Release below to revoke this Waiver and Release, that this Waiver and Release will not become
effective until the eighth day following the date that I have signed this Waiver and Release and that GSC will have no obligation to extend the benefits set forth in the separate agreement unless this Waiver and Release becomes effective.

  

			
	7th June 2006	 	 /s/ Frederik Seegers

	Date	 	FREDERIK SEEGERS

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