Document:

EX-10.8

 Exhibit 10.8 

BIGBAND NETWORKS, INC. 

2007 EQUITY INCENTIVE PLAN 

(As amended through January 4, 2016) 

1. Purposes of the Plan. The purposes of this Plan are: 
  

	 	•	 	to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	to provide additional incentive to Employees, Directors and Consultants, and 

  

	 	•	 	to promote the success of the Company’s business. 

 The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance Units and Performance Shares. (In 2011, Arris Group, Inc. assumed the Plan when a subsidiary of Arris Group, Inc.
merged with and into Big Band Networks, Inc. In 2013, Arris Holdco, Inc. assumed the Plan when a subsidiary of Arris Holdco, Inc. merged with and into Arris Group, Inc. Arris Holdco, Inc. changed its name to Arris Group, Inc. In 2015, Arris
International plc (“Arris International”) assumed the Plan when a subsidiary of Arris International merged with and into Arris Group, Inc. The Plan was amended and restated in connection with this final transaction.) 

2. Definitions. As used herein, the following definitions will apply: 

(a) “Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with
Section 4 of the Plan. 
 (b) “Applicable Laws” means the requirements relating to the administration of equity-based
awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where
Awards are, or will be, granted under the Plan. 
 (c) “Award” means, individually or collectively, a grant under the Plan
of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares. 
 (d)
“Award Agreement” means the written or electronic agreement setting forth the terms and provisions applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 

(e) “Board” means the Board of Directors of the Company. 

(f) “Change in Control” means the occurrence of any of the following events: 

(i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as
defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; 

  
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 (ii) The consummation of the sale or disposition by the Company of all or substantially all of
the Company’s assets; 
 (iii) A change in the composition of the Board occurring within a two (2)-year period, as a result of which
fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” means directors who either (A) are Directors as of the effective date of the Plan, or (B) are elected, or nominated for election, to the Board
with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an actual or threatened proxy contest
relating to the election of directors to the Company); or 
 (iv) The consummation of a merger or consolidation of the Company with any
other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting
securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or
consolidation. 
 (g) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code
herein will be a reference to any successor or amended section of the Code. 
 (h) “Committee” means a committee of
Directors or of other individuals satisfying Applicable Laws appointed by the Board in accordance with Section 4 hereof. 
 (i)
“Common Stock” means the common stock of the Company. 
 (j) “Company” means BigBand Networks, Inc., a
Delaware corporation, or any successor thereto. 
 (k) “Consultant” means any person, including an advisor, engaged by the
Company or a Parent or Subsidiary to render services to such entity. 
 (l) “Director” means a member of the Board. 

(m) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code, provided that in the
case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time
to time. 
 (n) “Employee” means any person, including Officers and Directors, employed by the Company or any Parent or
Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

(o) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 (p) “Exchange Program” means a program under which (i) outstanding Awards
are surrendered or cancelled in exchange for Awards of the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding
Awards to a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of any Exchange Program in
its sole discretion. 
 (q) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows:

 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
Global Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of
determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common
Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination, as
reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (iii) For purposes of any Awards
granted on the Registration Date, the Fair Market Value will be the initial price to the public as set forth in the final prospectus included within the registration statement in Form S-1 filed with the Securities and Exchange Commission for the
initial public offering of the Company’s Common Stock; or 
 (iv) In the absence of an established market for the Common Stock, the
Fair Market Value will be determined in good faith by the Administrator. 
 (r) “Fiscal Year” means the fiscal year of the
Company. 
 (s) “Incentive Stock Option” means an Option intended to qualify as an incentive stock option within the
meaning of Section 422 of the Code and the regulations promulgated thereunder. 
 (t) “Inside Director” means a
Director who is an Employee. 
 (u) “Nonstatutory Stock Option” means an Option that by its terms does not qualify or is
not intended to qualify as an Incentive Stock Option. 
 (v) “Officer” means a person who is an officer of the Company
within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (w)
“Option” means a stock option granted pursuant to the Plan. 
 (x) “Outside Director” means a Director who
is not an Employee. 
 (y) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined
in Section 424(e) of the Code. 
 (z) “Participant” means the holder of an outstanding Award. 

  
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 (aa) “Performance Share” means an Award denominated in Shares which may be
earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10. 

(bb) “Performance Unit” means an Award which may be earned in whole or in part upon attainment of performance goals or other
vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10. 

(cc) “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock are subject to
restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as determined by the
Administrator. 
 (dd) “Plan” means this 2007 Equity Incentive Plan. 

(ee) “Registration Date” means the effective date of the first registration statement that is filed by the Company and
declared effective pursuant to Section 12(g) of the Exchange Act, with respect to any class of the Company’s securities. 
 (ff)
“Restricted Stock” means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option. 

(gg) “Restricted Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share,
granted pursuant to Section 8. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 
 (hh)
“Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

(ii) “Section 16(b)” means Section 16(b) of the Exchange Act. 

(jj) “Service Provider” means an Employee, Director or Consultant. 

(kk) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan. 

(ll) “Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 9 is designated as a Stock Appreciation Right. 
 (mm) “Subsidiary” means a “subsidiary
corporation”, whether now or hereafter existing, as defined in Section 424(f) of the Code. 
 3.
Stock Subject to the Plan. 
 (a) Stock Subject to the Plan. Subject to the provisions
of Section 13 of the Plan, the maximum aggregate number of Shares that may be issued under the Plan is 6,000,000 Shares, plus (i) any Shares that, as of the Registration Date, have been reserved but not issued pursuant to any awards
granted under the Company’s 1999 Share Option and Incentive Plan, 2001 Share Option and Incentive Plan and 2003 Share Option and Incentive Plan (individually the “1999 Plan,” the “2001 Plan,” and the “2003 Plan,”
respectively, and collectively the “1999, 2001 and 2003 Plans”) and are not subject to any awards granted thereunder, and (ii) any Shares subject to stock options or similar awards granted under the

  
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1999, 2001 and 2003 Plans that expire or otherwise terminate without having been exercised in full and Shares issued pursuant to awards granted under the 1999, 2001 and 2003 Plans that are
forfeited to or repurchased by the Company, with the maximum number of Shares to be added to the Plan pursuant to clauses (i) and (ii) equal to 20,005,559 Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. 

(b) Automatic Share Reserve Increase. The number of Shares available for issuance under the Plan shall be increased on the first day of
each Fiscal Year beginning with the 2008 Fiscal Year, in an amount equal to the least of (A) 6,000,000 Shares, (B) five percent (5%) of the outstanding Shares on the last day of the immediately preceding Fiscal Year or (C) such
number of Shares determined by the Board. 
 (c) Lapsed Awards. If an Award expires or becomes unexercisable without having been
exercised in full, is surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock, Restricted Stock Units, Performance Units or Performance Shares, is forfeited to or repurchased by the Company due to failure to vest, the
unpurchased Shares (or for Awards other than Options or Stock Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With
respect to Stock Appreciation Rights, only Shares actually issued pursuant to a Stock Appreciation Right will cease to be available under the Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale
under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if
Shares issued pursuant to Awards of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan.
Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than
Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13, the maximum number of Shares that may be
issued upon the exercise of Incentive Stock Options shall equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Section 422 of the Code and the Treasury Regulations promulgated thereunder, any Shares
that become available for issuance under the Plan pursuant to Section 3(c). 
 (d) Share Reserve. The Company, during the term
of this Plan, will at all times reserve and keep available such number of Shares as will be sufficient to satisfy the requirements of the Plan. 

4. Administration of the Plan. 

(a) Procedure. 
 (i)
Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers may administer the Plan. 

(ii) Section 162(m). To the extent that the Administrator determines it to be desirable to qualify Options granted hereunder as
“performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan will be administered by a Committee of two (2) or more “outside directors” within the meaning of Section 162(m) of the
Code. 

  
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 (iii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as exempt
under Rule 16b-3, the transactions contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3. 

(iv) Other Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee,
which committee will be constituted to satisfy Applicable Laws. 
 (b) Powers of the Administrator. Subject to the provisions of the
Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i) to determine the Fair Market Value; 

(ii) to select the Service Providers to whom Awards may be granted hereunder; 

(iii) to determine the number of Shares to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

(vi) to determine the terms and conditions of any, and to institute any Exchange Program; 

(vii) to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan; 

(viii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of satisfying applicable foreign laws; 
 (ix) to modify or amend each Award (subject to Section 18(c) of
the Plan), including the discretionary authority to extend the post-termination exercisability period of Awards; 
 (x) to allow
Participants to satisfy withholding tax obligations in such manner as prescribed in Section 14; 
 (xi) to authorize any person to
execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator; 
 (xii)
to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award; and 

(xiii) to make all other determinations deemed necessary or advisable for administering the Plan. 

  
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 (c) Effect of Administrator’s Decision. The Administrator’s decisions,
determinations and interpretations will be final and binding on all Participants and any other holders of Awards. 
 5. Eligibility.
Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares and Performance Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 

6. Stock Options. 
 (a)
Limitations. Each Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares
with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options
will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of the time
the Option with respect to such Shares is granted. 
 (b) Term of Option. The term of each Option will be stated in the Award
Agreement. In the case of an Incentive Stock Option, the term will be ten (10) years from the date of grant or such shorter term as may be provided in the Award Agreement. Moreover, in the case of an Incentive Stock Option granted to a
Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the
Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the Award Agreement. 

(c) Option Exercise Price and Consideration. 

(i) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
the Administrator, subject to the following: 
 (1) In the case of an Incentive Stock Option 

a) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of
the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant. 

b) granted to any Employee other than an Employee described in paragraph (A) immediately above, the per Share exercise price will be no
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
 (2) In the case of a Nonstatutory
Stock Option, the per Share exercise price will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 

  
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 (3) Notwithstanding the foregoing, Options may be granted with a per Share exercise price of
less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 

(ii) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 
 (iii) Form of
Consideration. The Administrator will determine the acceptable form of consideration for exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of
consideration at the time of grant. Such consideration may consist entirely of: (1) cash; (2) check; (3) promissory note, (4) other Shares, provided Shares acquired directly or indirectly from the Company, (A) have been
owned by the Participant and not subject to substantial risk of forfeiture for more than six months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to
which said Option will be exercised; (5) consideration received by the Company under a broker-assisted (or other) cashless exercise program implemented by the Company in connection with the Plan; (6) any combination of the foregoing
methods of payment; or (7) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws. 

(d) Exercise of Option. 

(i) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the
Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a
stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised. 
 (ii) Termination of Relationship as a Service Provider.
If a Participant ceases to be a Service Provider, other than upon the Participant’s death or Disability, the Participant 

  
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may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no event later than the
expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s termination. Unless
otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the
Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iii) Disability of Participant. If a Participant ceases to be a Service Provider as a result of the Participant’s Disability, the
Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set
forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the Participant’s termination. Unless otherwise provided by the Administrator, if
on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option
within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 
 (iv) Death
of Participant. If a Participant dies while a Service Provider, the Option may be exercised following the Participant’s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the
date of death (but in no event may the option be exercised later than the expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s designated beneficiary, provided such beneficiary has been designated
prior to Participant’s death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the
person(s) to whom the Option is transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve
(12) months following Participant’s death. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will
immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

7. Restricted Stock. 

(a) Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time to time,
may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

(b) Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the Period of
Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold Shares of Restricted
Stock until the restrictions on such Shares have lapsed. 

  
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 (c) Transferability. Except as provided in this Section 7, Shares of Restricted Stock
may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d) Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted Stock as
it may deem advisable or appropriate. 
 (e) Removal of Restrictions. Except as otherwise provided in this Section 7, Shares of
Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other time as the Administrator may determine. The
Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 
 (f) Voting Rights.
During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g) Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock will be
entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions
on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 (h) Return of Restricted
Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

8. Restricted Stock Units. 

(a) Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. After the
Administrator determines that it will grant Restricted Stock Units under the Plan, it shall advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted Stock Units.

 (b) Vesting Criteria and Other Terms. The Administrator shall set vesting criteria in its discretion, which, depending on the
extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual
goals (including, but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. 
 (c)
Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant shall be entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted
Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be met to receive a payout. 

  
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 (d) Form and Timing of Payment. Payment of earned Restricted Stock Units shall be made as
soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may only settle earned Restricted Stock Units in cash, Shares, or a combination of both. 

(e) Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units shall be forfeited to the Company.

 9. Stock Appreciation Rights. 

(a) Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be granted to
Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 
 (b) Number of
Shares. The Administrator will have complete discretion to determine the number of Stock Appreciation Rights granted to any Service Provider. 

(c) Exercise Price and Other Terms. The per share exercise price for the Shares to be issued pursuant to exercise of a Stock
Appreciation Right shall be determined by the Administrator and shall be no less than one hundred percent (100%) of the Fair Market Value per share on the date of grant. Otherwise, subject to Section 6(a) of the Plan, the Administrator,
subject to the provisions of the Plan, shall have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 

(d) Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will specify
the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e) Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined by
the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(d) also will apply to Stock Appreciation Rights. 

(f) Payment of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled to receive
payment from the Company in an amount determined by multiplying: 
 (i) The difference between the Fair Market Value of a Share on the date
of exercise over the exercise price; times 
 (ii) The number of Shares with respect to which the Stock Appreciation Right is exercised.

 At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value,
or in some combination thereof. 
 10. Performance Units and Performance Shares. 

(a) Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any time and
from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete discretion in determining the number of Performance Units and Performance Shares granted to each Participant. 

  
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 (b) Value of Performance Units/Shares. Each Performance Unit will have an initial value
that is established by the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the date of grant. 

(c) Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions (including,
without limitation, continued status as a Service Provider) in its discretion which, depending on the extent to which they are met, will determine the number or value of Performance Units/Shares that will be paid out to the Service Providers. The
time period during which the performance objectives or other vesting provisions must be met will be called the “Performance Period.” Each Award of Performance Units/Shares will be evidenced by an Award Agreement that will specify the
Performance Period, and such other terms and conditions as the Administrator, in its sole discretion, will determine. The Administrator may set performance objectives based upon the achievement of Company-wide, divisional, or individual goals,
applicable federal or state securities laws, or any other basis determined by the Administrator in its discretion. 
 (d) Earning of
Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce
or waive any performance objectives or other vesting provisions for such Performance Unit/Share. 
 (e) Form and Timing of Payment of
Performance Units/Shares. Payment of earned Performance Units/Shares will be made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned Performance
Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof. 

(f) Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance
Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan. 
 11. Leaves of Absence/Transfer
Between Locations. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during any unpaid leave of absence. A Service Provider will not cease to be an Employee in the case of (i) any leave of
absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless
reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three (3) months following the ninety-first (91 st ) day of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

 12. Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award
transferable, such Award will contain such additional terms and conditions as the Administrator deems appropriate. 

  
 12 

 13. Adjustments; Dissolution or Liquidation; Merger or Change in Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, may (in its sole discretion) adjust the number and class
of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, the numerical Share limits in Section 3 of the Plan. 

(b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will notify
each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action. 

(c) Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator
determines, including, without limitation, that each Award be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. The Administrator shall not be required to treat
all Awards similarly in the transaction. 
 In the event that the successor corporation does not assume or substitute for the Award, the
Participant will fully vest in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted
Stock and Restricted Stock Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms
and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed or substituted in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock
Appreciation Right will be exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

For the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the right
to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) received in the Change in Control by holders of Common Stock for each
Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an
Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, Performance Unit or 

  
 13 

 
Performance Share, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by
holders of Common Stock in the Change in Control. 
 Notwithstanding anything in this Section 13(c) to the contrary, an Award that
vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be considered assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a
modification to such performance goals only to reflect the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 

(d) Outside Director Awards. With respect to Awards granted to an Outside Director that are assumed or substituted for, if on the date
of or following such assumption or substitution the Participant’s status as a Director or a director of the successor corporation, as applicable, is terminated other than upon a voluntary resignation by the Participant (unless such resignation
is at the request of the acquirer), then the Participant will fully vest in and have the right to exercise Options and/or Stock Appreciation Rights as to all of the Shares underlying such Award, including those Shares which would not otherwise be
vested or exercisable, all restrictions on Restricted Stock and Restricted Stock Units will lapse, and, with respect to Performance Units and Performance Shares, all performance goals or other vesting criteria will be deemed achieved at one hundred
percent (100%) of target levels and all other terms and conditions met. 
  

	14.	Tax Withholding. 

 (a) Withholding Requirements. Prior to the delivery of any
Shares or cash pursuant to an Award (or exercise thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other
taxes (including the Participant’s FICA obligation) required to be withheld with respect to such Award (or exercise thereof). 
 (b)
Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without
limitation) (a) paying cash, (b) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (c) delivering to the Company
already-owned Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be
withheld. 
 15. No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with
respect to continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the Company’s right to terminate such relationship at any time, with or
without cause, to the extent permitted by Applicable Laws. 
 16. Date of Grant. The date of grant of an Award will be, for all
purposes, the date on which the Administrator makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time
after the date of such grant. 

  
 14 

 17. Term of Plan. Subject to Section 21 of the Plan, the Plan will become effective
upon its adoption by the Board. It will continue in effect for a term of ten (10) years from the date adopted by the Board, unless terminated earlier under Section 18 of the Plan. 

18. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 

(b) Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent necessary and desirable to
comply with Applicable Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the
Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect
the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

19. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance
and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such Award to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation
is required. 
 20. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having
jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to
which such requisite authority will not have been obtained. 
 21. Stockholder Approval. The Plan will be subject to approval by the
stockholders of the Company within twelve (12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

22. Arris International Shares. Notwithstanding any other rule of this Plan, with effect from the time that Arris International plc has
acquired the issued and to be issued share capital of Arris Group, Inc and Pace plc, references to Shares shall be read as references in the Plan and related award documents to ordinary shares of Arris International (“Arris Shares”), Arris
International agrees to perform the obligations of the Company under the Plan and the related award documents, and the following provisions shall apply: 
  

	 	(a)	 where Arris Shares are to be issued directly to a participant and no amount (or less than the nominal value per share) is to be paid by a participant,
where required by any applicable law, this may be done using such mechanism 

  
 15 

	 	
involving a third party as the Committee considers necessary or by the Company paying (or procuring payment of) a bonus to the participant in respect of the nominal value of each share and, with
the participant’s agreement, using such amount to pay up nominal value or by capitalizing reserves in accordance with the articles of association; and 

  

	 	(b)	where a Tax Liability arises (or would arise) for any member of the Company’s group in respect of an award, as a condition of vesting or exercise of an award a participant must either: 

(i) make a payment to that company of an amount equal to that company’s estimate of the amount of the Tax Liability; or 

(ii) enter into arrangements acceptable to that company to secure that such payment is made (whether by surrender of shares, cancellation of
part of an award, the sale of shares or otherwise). 
 For these purposes, “Tax Liability” shall mean any amount of federal, state
or local tax and/or employees’ social security (or similar) contributions which any member of the Company’s group becomes liable to pay on the participant’s behalf to the revenue authorities in any jurisdiction. 

  
 16EX-10.9

 Exhibit 10.9 

PACE PLC 
  

 
 RULES OF

 THE PACE SHARESAVE PLAN 
  

 
 This Plan has
been notified to HM Revenue & Customs as a Schedule 3 SAYE option scheme 
 Originally approved by shareholders:
6 September 2005 
 Approved by HMRC: 9 November 2005 

Approval renewed and amendments adopted by shareholders: 24 April 2014 

Amended by the Directors (under power delegated to 

the General Counsel and Company Secretary): 7 April 2015 
  

 

 RULES OF THE PACE SHARESAVE PLAN 

CONTENTS 
  

					
	 Part A:
	  	Interpretation and Administration	  	Rules 1 and 2
			
	 Part B:
	  	Issue of Invitations and Grant of Options	  	Rules 3 – 13
			
	 Part C:
	  	Exercise of Options	  	Rules 14 and 15
			
	 Part D:
	  	Corporate Transactions	  	Rules 16 – 19
			
	 Part E:
	  	Amendments	  	Rules 20 and 21
			
	 Part F:
	  	Miscellaneous	  	Rules 22 – 26

 CONTENTS 
  

							
			
	Rule	  		  	 	Page	  
	1	  	 DEFINITIONS AND INTERPRETATION
	  	 	1	  
	2	  	 PURPOSE AND ADMINISTRATION
	  	 	5	  
	3	  	 ELIGIBILITY
	  	 	6	  
	4	  	 TIMING OF INVITATIONS
	  	 	6	  
	5	  	 INVITATIONS
	  	 	6	  
	6	  	 THE EXERCISE PRICE
	  	 	7	  
	7	  	 APPLICATIONS FOR OPTIONS
	  	 	7	  
	8	  	 ACCEPTANCE AND SCALING-DOWN OF APPLICATIONS
	  	 	8	  
	9	  	 INDIVIDUAL LIMIT ON PARTICIPATION
	  	 	9	  
	10	  	 GRANT OF OPTIONS
	  	 	9	  
	11	  	 RELATIONSHIP WITH CONTRACT OF EMPLOYMENT
	  	 	10	  
	12	  	 NON-TRANSFERABILITY OF OPTIONS
	  	 	11	  
	13	  	 COMPANY LIMITS ON SUBSCRIPTION FOR NEW SHARES
	  	 	11	  
	14	  	 EXERCISE OF OPTIONS
	  	 	12	  
	15	  	 MANNER OF EXERCISE OF OPTIONS
	  	 	14	  
	16	  	 RECONSTRUCTION
	  	 	16	  
	17	  	 WINDING-UP
	  	 	16	  
	18	  	 CHANGE OF CONTROL
	  	 	17	  
	19	  	 OPTION ROLLOVER
	  	 	18	  
	20	  	 VARIATION OF SHARE CAPITAL
	  	 	21	  
	21	  	 ALTERATION OF THE PLAN
	  	 	21	  
	22	  	 SERVICE OF DOCUMENTS
	  	 	23	  
	23	  	 DATA PROTECTION
	  	 	23	  
	24	  	 OBLIGATION TO ENSURE SUFFICIENT AUTHORISED SHARES
	  	 	24	  
	25	  	 JURISDICTION
	  	 	24	  
	26	  	 THIRD PARTY RIGHTS
	  	 	24	  

 RULES OF THE PACE SHARESAVE PLAN 

This Plan is an employees’ share plan originally approved by shareholders of the Company by ordinary resolution passed on 6 September 2005 and
renewed on 24 April 2014. 
 PART A: INTERPRETATION AND ADMINISTRATION 

 

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Plan, the following words and expressions shall have the meanings given below:- 

“3 year Option” an Option linked to a 3 year Savings Contract 

“5 year Option” an Option linked to a 5 year Savings Contract 

“Acquisition Cost” in relation to the exercise of an Option, an amount equal to the product of:- 

 

	 	(a)	the maximum number of Shares in respect of which that Option could then be exercised (or such lesser number as is specified in the notice of exercise); and 

 

	 	(b)	the Exercise Price of such Shares 

 “Announcement” the preliminary
announcement to the London Stock Exchange of the results of the Company for any period 
 “Applicant” a
person who, in response to an Invitation, submits an Application 
 “Application” an application for the
grant of an Option made in accordance with Rule 7 
 “Application Date” in relation to any Invitation,
such date (being not less than 14 nor more than 21 days after the Invitation Date) as shall be determined by the Directors to be the last day on which an Application may be submitted 

“Associated Company” any company which, in relation to the Company, is an associated company as that term is defined
in paragraph 47 of Schedule 3 
 “Bonus Date” 

 

	 	(a)	the repayment date for a Savings Contract in relation to a 3-year Option; or 

  

	 	(b)	the repayment date for a Savings Contract in relation to a 5-year Option; 

“Companies Act” the Companies Act 2006 

“Company” Pace plc  

“Control” has the meaning given in section 719 of ITEPA 

“Daily Official List” the Daily Official List of the London Stock Exchange 

“Date of Grant” in relation to any Option the date on which such Option is granted 

“Dealing Day” a day on which the London Stock Exchange is open for business 

“Directors” the board of directors of the Company or a duly constituted committee of the directors 

  
 1 

 “Eligible Employee” 

 

	 	(a)	at the Date of Grant of an Option, any Employee or Full-time Director:- 

  

	 	(i)	who is employed by a Participating Company; 

  

	 	(ii)	who has been continuously employed by one or more Participating Companies for a period of not less than one month preceding the Invitation Date (or for such other period of not more than 5 years preceding the Date of
Grant as the Directors may determine from time to time); and 

  

	 	(iii)	whose earnings in respect of such office of employment are (or would be if there were any) general earnings to which section 15 of ITEPA applies (earnings for a year when employee is resident in the UK); or

  

	 	(b)	any Employee or director of any Participating Company who is nominated by the Directors as an Eligible Employee for the purposes of this Plan 

provided that no person shall be eligible to participate in this Plan if he is precluded by virtue of paragraph 10 of Schedule 31 
 “Employee” an employee of any Participating Company 

“Employees’ Savings Contract” the Savings Contract entered into by an Eligible Employee or an Optionholder in
connection with the grant to him of an Option (and any reference to “his Savings Contract” shall be construed accordingly) 

“Exercise Price” in relation to an Option, the price per Share payable upon the exercise of such Option (rounded up,
where appropriate) 
 “FCA” the Financial Conduct Authority in its capacity as the competent authority for
the purposes of Part VI of the Financial Services and Markets Act 2000, or its successors from time to time 

“Full-time Director” a director of any Participating Company who is required to work at least 25 hours per
week (excluding meal breaks), disregarding holiday entitlement 
 “Group” the Company and any company which
is for the time being a Subsidiary 
 “HMRC” Her Majesty’s Revenue & Customs 

“Invitation” an invitation to apply for an Option issued in accordance with Rule 5 

“Invitation Date” the date on which an Invitation is issued in accordance with Rule 5 

“ITEPA” the Income Tax (Earnings and Pensions) Act 2003 

 

	1 	Before 17 July 2013, employees and directors with a “material interest” in a close company were also prohibited from participating. 

  
 2 

 “Jointly-Owned Company” has the meaning given in paragraph 46 (5) of
Schedule 3 
 “Key Feature” a provision of this Plan which is necessary in order for the requirements of
Parts 2 to 7 of Schedule 3 to be met in relation to this Plan 
 “London Stock Exchange” London Stock
Exchange plc 
 “Market Value” 

 

	 	(a)	if on the relevant date, Shares are admitted to the Official List, the middle market quotation of a Share as derived from the Daily Official List for the Dealing Day immediately preceding that date; or

  

	 	(b)	if the Shares are not admitted to the Official List, the market value of a Share on the relevant date as determined in accordance with Part VIII of the TCGA and agreed in advance with HMRC Shares & Assets
Valuation 

 PROVIDED THAT if any Share is subject to a Restriction the market value of such Share is to be determined as if
it was not subject to the Restriction 
 “Model Code” the code adopted by the Company, which contains provisions
similar in purpose and effect to the provisions of the Model Code on directors’ dealings in securities as set out in the Listing Rules issued by the FCA 

“Official List” the Official List of the FCA 

“Option” a right to acquire Shares granted in accordance with, and subject to, the rules of this Plan 

“Option Certificate” a certificate evidencing the grant of an Option as mentioned in Rule 10.5 

“Optionholder” a person who has been granted an Option or, if that person has died and where the context requires, his
Personal Representatives 
 “Ordinary Share Capital” the issued ordinary share capital of the Company other
than fixed-rate preference shares, including any Shares held in treasury 
 “Participating Company” the
Company and any other company which is for the time being either:- 
  

	 	(a)	a Subsidiary; or 

  

	 	(b)	a Jointly Owned Company to which the Directors have resolved that this Plan shall extend for the time being 

“Personal Data” the name, home address, telephone number, e-mail address, date
of birth and National Insurance or other individual reference number of an Optionholder or other employee information, including details of all rights to acquire Shares or other securities granted to such Optionholder and of Shares or other
securities issued or transferred to such Optionholder pursuant to this Plan and any other personal information which could identify the Optionholder and is necessary for the administration of this Plan 

  
 3 

 “Personal Representatives” the personal representatives of an
Optionholder, being either:-  
  

	 	(a)	the executors of his will; or 

  

	 	(b)	if he dies intestate, the duly appointed administrator(s) of his estate 

 who, in either case,
have produced to the Company evidence of their appointment as such 
 “Plan” The Pace Sharesave Plan as set out in
these rules as amended from time to time 
 “Related Company” a company which, in relation to the
Company, is an “associated company” as that term is defined in paragraph 35(4) of Schedule 3 
 “Relevant
Date” as is appropriate in the circumstances, either:- 
  

	 	(a)	the day on which a person obtains Control of the Company as a result of a compromise or arrangement sanctioned by the court as mentioned in Rule 16.1; 

 

	 	(b)	the day on which a person obtains Control of the Company as mentioned in Rule 18.1; or 

  

	 	(c)	the day on which a person who is entitled or bound to acquire shares in the Company as mentioned in Rule 18.3 obtains Control of the Company 

“Relevant Savings Body” the Savings Body which is a party to an Employee’s Savings Contract 

“Repayment Value” the aggregate amount of all the monthly savings contributions payable under an Employee’s
Savings Contract, together with the amount of any bonus as would be due on the Bonus Date 
 “Restriction”
has the same meaning as in paragraph 48(3) of Schedule 3 
 “Savings Body” the bank or building society
operating an SAYE Scheme which is approved by the Directors for the purposes of this Plan 
 “Savings Contract” a
savings contract entered into under an SAYE Scheme2 
 “SAYE
Code” has the meaning given in section 516(3) of ITEPA 
 “SAYE Scheme” a certified SAYE savings
arrangement within the meaning of section 703 of the Income Tax (Trading and Other Income) Act 2005 

“Schedule 3” Schedule 3 to ITEPA 

“Schedule 3 SAYE Option Scheme” a SAYE option scheme which is taken to be a Schedule 3 SAYE option scheme for the
purposes of the SAYE Code as set out in paragraph A1 of Schedule 3 
  

	2 	Seven year savings contracts were abolished with effect from 23 July 2013 (the revised prospectus date). 

  
 4 

 “Shares” fully-paid ordinary shares in the capital of the Company which
satisfy the conditions set out in paragraphs 18 to 20 (inclusive) and 22 of Schedule 3 or, for the purposes of Rules 16.1.2(b), 18.1.2(b)(ii) and 18.3.2 means fully-paid ordinary shares in the capital of the Company which no longer comply
with paragraphs 18-20 (inclusive) and 22 of Schedule 3 (or following a reconstruction, demerger or reorganisation of the Company or a change of Control in accordance with Rule 18, shares or other securities representing such shares) 

“Subscription Option” a right to subscribe for Shares granted in accordance with, and subject to, the rules of this
Plan 
 “Subsidiary” any company which is for the time being both a subsidiary (as defined in
section 1159 of the Companies Act) of the Company and under the Control of the Company 
 “TCGA” the
Taxation of Chargeable Gains Act 1992 
 “Trust” an employees’ share trust established by the Company
for the benefit of employees of members of the Group 
 “Trustee” the trustee or trustees for the time being
of a Trust 
  

	1.2	References to Shares in respect of which an Option subsists at any time are to be read and construed as references to the Shares over which the Option is then held (and in respect of which it has not then lapsed and
ceased to be exercisable). 

  

	1.3	Words and expressions used in this Plan and in the ancillary documents which are not defined in Rule 1 have the meanings they bear for the purposes of the SAYE Code. 

 

	1.4	Any reference to any enactment includes a reference to that enactment as from time to time modified, extended or re-enacted and shall include all subordinate legislation made from time to time under that statute or
statutory provision. 

  

	1.5	Any reference to the exercise of an Option includes a reference to the exercise of an Option in respect of a lesser number of Shares than the maximum permitted under Rule 15.1. 

 

	1.6	Words denoting the masculine gender shall include the feminine. 

  

	1.7	Words denoting the singular shall include the plural and vice versa. 

  

	1.8	References to rules are to the rules of this Plan and no account shall be taken of the rule headings which are for ease of reference only. 

 

	2.	PURPOSE AND ADMINISTRATION 

  

	2.1	This Plan shall provide, in accordance with Schedule 3, benefits for employees and directors of Participating Companies in the form of share options and shall not provide benefits to such employees and directors
otherwise than in accordance with Schedule 3. 

  

	2.2	The Directors may from time to time make and vary such rules and regulations which are consistent with these rules and establish such procedures for the administration and implementation of this Plan as they think
fit. 

  

	2.3	If any question, dispute or disagreement arises as to the interpretation of this Plan or of any rules, regulations or procedures relating to it or as to any question or right arising from or related to this Plan, the
decision of the Directors shall be final and binding upon all persons. 

  

	2.4	The Company shall bear the costs of the administration and implementation of this Plan. 

  
 5 

 PART B: ISSUE OF INVITATIONS AND GRANT OF OPTIONS 

 

	3.	ELIGIBILITY 

 The Directors may, at their discretion issue (or procure the issue of)
Invitations to apply for Options to all persons who are, or at the intended Date of Grant may be, Eligible Employees. 
  

	4.	TIMING OF INVITATIONS 

  

	4.1	Invitations may be issued:- 

  

	 	4.1.1	during the period of 42 days following the date on which this Plan is approved (including any renewal of shareholder approval) by the shareholders; 

 

	 	4.1.2	during the period of 42 days beginning with the second Dealing Day following an Announcement; and 

  

	 	4.1.3	at any other time if, in the opinion of the Directors, the circumstances are exceptional. 

  

	4.2	If the Company is restricted by statute, order or regulation (including any regulation, order or requirement imposed on the Company by the London Stock Exchange, the FCA or any other regulatory authority) from issuing
Invitations within any period as mentioned in Rule 4.1, Invitations may be issued at any time during the period of 42 days beginning with the date on which such restriction is removed. 

 

	5.	INVITATIONS 

  

	5.1	Invitations shall be in writing or in electronic form and may be in the form of notices, advertisements, circulars or otherwise for the general attention of Employees and to which Employees’ attention is drawn by
notices issued with pay and salary advice slips. 

  

	5.2	An Invitation may not be issued by e-mail to any person unless that person is known by his employer company to have personal access during his normal business hours to information sent by e-mail. 

 

	5.3	Each Invitation shall:- 

  

	 	5.3.1	be in the same terms as all other Invitations issued on the same occasion; 

  

	 	5.3.2	invite the recipient to apply for one or more (as the Directors shall specify) 3 year Option and/or 5 year Option; 

  

	 	5.3.3	specify the form and manner in which the recipient may apply for an Option and the Application Date; 

  

	 	5.3.4	identify the Savings Body; 

  

	 	5.3.5	state the minimum amount of monthly savings contribution which may be made under a Savings Contract, which shall not be less than £5 (or any other minimum amount specified in the HM Treasury specifications for
certified savings arrangements in force at the relevant time) nor more than £10 (or any other amount specified in paragraph 25(3)(b) of Schedule 3 at the relevant time) or, if the Directors so determine, such other minimum amount as is
permitted under the terms of the relevant Savings Contract); 

  

	 	5.3.6	state the maximum amount of monthly savings contribution which may be made by an Optionholder (being such sum as is mentioned in Rule 9.2); and 

 

	 	5.3.7	if the Directors so determine, include a statement that if it becomes necessary to scale-back Applications pursuant to Rule 8, scaling-back shall, in the first instance, apply to every Application for a monthly
savings contribution greater than an amount that the Directors shall specify in the Invitation and shall otherwise be in such form as the Directors may determine. 

  
 6 

	5.4	On any occasion on which Invitations are issued, the Directors may in their discretion determine and announce the maximum number of Shares in respect of which Options will be granted in response to Applications made
pursuant to the Invitations issued on that occasion. 

  

	6.	THE EXERCISE PRICE 

  

	6.1	Subject to any adjustment in accordance with Rule 20, the Exercise Price shall be determined by the Directors but shall be not less than 80% (rounded up to the nearest whole penny) of the Market Value on the
Invitation Date. 

  

	6.2	The Exercise Price shall be the same in relation to all Options granted on the same occasion and, in relation to Subscription Options, shall not (except as mentioned in sub-paragraph (c) of Rule 20.1) be less than
the nominal value of a Share. 

  

	7.	APPLICATIONS FOR OPTIONS 

  

	7.1	Any person to whom an Invitation has been issued may apply for an Option by submitting an Application (which may be in electronic form) to the person specified in the Invitation. 

 

	7.2	The Application shall:- 

  

	 	7.2.1	be received at the address stipulated in the Invitation not later than the Application Date; 

  

	 	7.2.2	specify the amount of the savings contributions proposed to be paid each month under the Employee’s Savings Contract (or, if more than one, each such Savings Contract) and authorise the Applicant’s employer
(from time to time) to deduct such amount (or such lesser amount as may be determined pursuant to Rule 8) from the Applicant’s pay and pay those deductions to the relevant Savings Body to meet the Applicant’s obligations under the
relevant Savings Contract; 

  

	 	7.2.3	if the terms of the Invitation so permit, indicate whether or not the Applicant applies for one or more 3 year Option and/or one or more 5 year Option; 

 

	 	7.2.4	include or be accompanied by an application for a Savings Contract linked to each such Option in a form approved by the Relevant Savings Body; 

 

	 	7.2.5	authorise the transfer and processing of the Applicant’s Personal Data for the purposes of this Plan’s administration; 

  

	 	7.2.6	be duly completed and, if required by the Directors, signed by the Applicant; 

  

	 	7.2.7	include the Applicant’s agreement to be bound by the terms of the Plan; 

  

	 	7.2.8	otherwise comply with any terms and conditions specified in the Invitation; 

  

	 	7.2.9	be subject to the Applicant being an Eligible Employee at the Date of Grant; and 

  

	 	7.2.10	be otherwise in such form as the Directors may determine. 

  

	7.3	Subject to Rule 8, the total number of Shares in respect of which any Application shall be deemed to be made shall be the whole number of Shares for which the Acquisition Cost payable would be as nearly as may be
equal to, but not exceed, the amount which would be the Repayment Value of the Employee’s Savings Contract if the amount of each of the contributions payable under that Savings Contract (or under each such Savings Contract) was equal to the
maximum amount specified by the Applicant in his application. 

  

	7.4	If no Application is received by the Application Date, an Invitation shall be deemed to have been declined. 

  
 7 

	8.	ACCEPTANCE AND SCALING-DOWN OF APPLICATIONS 

  

	8.1	Subject to the following provisions of this Rule 8, each Application shall be accepted to the extent of the total number of Shares in respect of which it is made (as mentioned in Rule 7.3). 

 

	8.2	If the total number of Shares in respect of which Applications have been made on any occasion would result in any of the limits in Rules 5.4 or 13 being exceeded, the number of Shares in respect of which each
Application is accepted shall be reduced in accordance with the following provisions of this Rule 8. 

  

	8.3	If the total number of Shares for which Applications are deemed to have been made on any occasion exceeds any of the limits in Rules 5.4 or 13, each Application shall be treated as exclusive of any bonus.

  

	8.4	If, after the application of Rule 8.3, the total number of Shares for which Applications are deemed to have been made on that occasion exceeds any of the limits in Rules 5.4 or 13, and the Invitation included a
statement as mentioned in Rule 5.3.7, then subject to Rules 8.9 and 8.10, the number of Shares in respect of which each Application is treated as having been made shall be determined on the basis that the amount of monthly savings contributions
under the Savings Contract is reduced to the amount so specified in the Invitation. 

  

	8.5	If, after the application of Rule 8.4, the total number of Shares for which Applications are deemed to have been made on that occasion exceeds any of the limits in Rules 5.4 or 13 the number of Shares in
respect of which each Application shall be accepted shall be further reduced as follows:- 

  

	 	8.5.1	the reduction shall be as nearly as may be on a proportionate basis, to the extent necessary to ensure that none of the limits in Rules 5.4 or 13 is exceeded and the amount of monthly savings contributions to be
made under the Savings Contracts linked to each such Option shall be reduced accordingly; but 

  

	 	8.5.2	the number of Shares for which any Application shall be accepted shall not be reduced below the number for which the Acquisition Cost payable would be as nearly as may be equal to, but not exceed, the Repayment Value of
the Employee’s Savings Contract linked to that Option if the monthly savings contributions under each such Savings Contract were £5 or such other minimum amount per month specified in the Invitation (the “Minimum Number of
Shares”). 

  

	8.6	The provisions of Rule 8.4 shall, if necessary, be applied repeatedly until either none of the limits in Rules 5.4 and/or 13 will be exceeded or the number of Shares for which each Application would be
accepted is reduced to the Minimum Number of Shares. 

  

	8.7	If, notwithstanding the provisions of Rules 8.2 to 8.6 (inclusive) any one or more of the limits in Rules 5.4 and 13 would still be exceeded, the selection of Applications for acceptance shall be
made by the Directors on the basis that each Application (after adjustment as mentioned above) has an equal chance of selection for acceptance. 

  

	8.8	If, on any occasion, an Applicant has applied for more than one 3 year Option or 5 year Option, as the case may be, in applying the provisions of this Rule 8 the number of Shares in respect of which
Applications have been received from such Applicant for all such 3 year Options (or, as the case may be, all such 5 year Options) shall first be aggregated and treated as if a single Application for such an Option had been received in
respect of the aggregate number of such Shares. 

  

	8.9	Having, in the case of an Applicant who has applied for more than one 3 year Option (or, as the case may be, more than one 5 year Option) identified the maximum aggregate number of Shares in respect of which
such Applications may be accepted (the “Maximum Number of Shares”):- 

  

	 	8.9.1	the Maximum Number of Shares shall be divided by the number of Options for which such Applicant had applied; 

  

	 	8.9.2	the monthly contributions to be made under each Savings Contract for which an Application has been made shall be identified; and 

  
 8 

	 	8.9.3	such Applications shall be deemed to have been made, and shall be accepted, on that basis 

PROVIDED THAT if in consequence the amount of monthly contributions to be made under any such Savings Contract would be less than the
minimum amount specified pursuant to Rule 5.3.5, the number of Savings Contracts for which Applications shall be deemed to have been made, and shall be accepted, shall be reduced so as to ensure that the monthly contributions to be made in each
case is not less than that minimum amount. 
  

	8.10	As soon as reasonably practicable after the Application Date, the Directors shall:- 

  

	 	8.10.1	determine the maximum number of Shares in respect of which each Application may be accepted; and 

  

	 	8.10.2	cause each Application for a Savings Contract to be submitted to the Relevant Savings Body. 

  

	9.	INDIVIDUAL LIMIT ON PARTICIPATION 

  

	9.1	The aggregate amount of an Eligible Employee’s or Optionholder’s monthly savings contributions under his Savings Contract, when added to the aggregate amount of his monthly savings contributions under any
other Savings Contracts, may not at any time exceed the sum specified in Rule 9.2. 

  

	9.2	The sum mentioned in Rule 9.1 is:- 

  

	 	9.2.1	£500 (or such other maximum amount not exceeding the maximum amount per month specified from time to time in paragraph 25(3)(a) of Schedule 3); 

 

	 	9.2.2	such lesser amount specified in the relevant Savings Contract (not exceeding such other maximum amount per month specified from time to time in paragraph 25(3)(a) of Schedule 3); or 

 

	 	9.2.3	such other maximum amount (not exceeding such other maximum amount per month specified from time to time in paragraph 25(3)(a) of Schedule 3) as the Directors may determine 

SAVE THAT if on any occasion the Directors shall determine for these purposes a sum (the “new limit”) which is less than the maximum
aggregate of the monthly contributions applicable on any previous occasion, that determination shall be made without prejudice to any Option previously granted to an Optionholder or to any Employee’s Savings Contract previously entered into by
any Optionholder if the aggregate monthly savings contributions payable by that Optionholder under such Savings Contract would thereby exceed the new limit. 
  

	10.	GRANT OF OPTIONS 

  

	10.1	Subject to the following provisions of this Rule 10, Options shall be granted within the period of 30 days beginning with the first of the days by reference to which the Exercise Price is determined on any
occasion. 

  

	10.2	The Directors shall pass a resolution granting an Option to acquire the whole number of Shares as determined for the relevant Application in accordance with Rule 7.3 to each Applicant who is an Eligible Employee. The
Date of Grant shall be the date of such resolution. 

  

	10.3	If, on any occasion, it is necessary to reduce the number of Shares in respect of which any Applications are accepted, the reference in Rule 10.1 to a period of “30” days shall be read as if it were in
reference to “42” days. 

  

	10.4	No payment shall be required for the grant of an Option. 

  
 9 

	10.5	As soon as reasonably practicable after the Date of Grant, the Company shall issue to each Optionholder (or procure the issue of) an Option Certificate in such form as the Directors may determine (which may be an
electronic form) which specifies:- 

  

	 	10.5.1	the Date of Grant; 

  

	 	10.5.2	the maximum number of Shares in respect of which the Option is granted; 

  

	 	10.5.3	the Exercise Price; and 

  

	 	10.5.4	whether or not the Shares which may be acquired by the exercise of the Option may be subject to any Restriction and, if so, which gives details of the Restriction.3

  

	10.6	No Option may be granted:- 

  

	 	10.6.1	at any time when the grant is prohibited by, or in breach of, any law, regulation with the force of law, rule of an investment exchange on which the Shares are listed or traded or any other non-statutory rule that binds
the Company or with which the Directors have resolved to comply; or 

  

	 	10.6.2	after 24 April 2024 but any rights of Optionholders then subsisting shall remain in force. 

  

	11.	RELATIONSHIP WITH CONTRACT OF EMPLOYMENT 

  

	11.1	The grant of an Option shall not form part of the Optionholder’s entitlement to remuneration or benefits pursuant to his contract of employment. The existence of a contract of employment between any person and the
Company or any present or past Subsidiary, Associated Company or Jointly-Owned Company shall not give that person any right or entitlement to have an Option granted to him in respect of any number of Shares or any expectation that an Option might be
granted to him, whether subject to any conditions or at all. 

  

	11.2	The rights and obligations of an Optionholder under the terms of his contract of employment with the Company or any present or past Subsidiary, Associated Company or Jointly-Owned Company shall not be affected by the
grant of an Option or his participation in this Plan. 

  

	11.3	Neither the existence of this Plan nor the fact that an individual has on any occasion been granted an Option shall give such individual any right, entitlement or expectation that he has or will in future have any such
right, entitlement or expectation to participate in this Plan by being granted an Option on any other occasion. 

  

	11.4	The rights or opportunity granted to an Optionholder on the grant of an Option shall not give the Optionholder any rights or additional rights to compensation or damages in consequence of either:- 

 

	 	11.4.1	the Optionholder giving or receiving notice of termination of his office or employment; or 

  

	 	11.4.2	the loss or termination of his office or employment with the Company or any present or past Subsidiary, Associated Company or Jointly-Owned Company for any reason whatsoever 

whether or not the termination (and/or giving of notice) is ultimately held to be wrongful or unfair. 

 

	11.5	An Optionholder shall not be entitled to any compensation or damages for any loss or potential loss which he may suffer by reason of being unable to exercise an Option and/or acquire or retain Shares, or any interest in
Shares, in consequence of:- 

  

	3 	The requirement to state whether or not there are (and give details of) Restrictions on Shares only applies for Options granted on/after 17 July 2013. 

  
 10 

	 	11.5.1	the Optionholder giving or receiving notice of termination of his office or employment (whether or not the termination (and/or giving of notice) is ultimately held to be wrongful or unfair); 

 

	 	11.5.2	the loss or termination of his office or employment with the Company or any present or past Subsidiary, Associated Company or Jointly-Owned Company for any reason whatsoever (whether or not the termination is ultimately
held to be wrongful or unfair); or 

  

	 	11.5.3	any other reason. 

  

	12.	NON-TRANSFERABILITY OF OPTIONS 

  

	12.1	During his lifetime, only the person to whom an Option is granted may exercise that Option. 

  

	12.2	An Option shall immediately lapse and cease to be exercisable if the Optionholder:- 

  

	 	12.2.1	transfers or assigns it (other than to his Personal Representatives), mortgages, charges or otherwise disposes of it; 

  

	 	12.2.2	is adjudged bankrupt or an interim order is made because he intends to propose a voluntary arrangement to his creditors under the Insolvency Act 1986; 

 

	 	12.2.3	makes or proposes a voluntary arrangement under the Insolvency Act 1986, or any other plan or arrangement in relation to his debts, with his creditors or any section of them; or 

 

	 	12.2.4	is otherwise deprived (except on death) of the legal or beneficial ownership of the Option by operation of law or doing or omitting to do anything which causes him to be so deprived. 

 

	13.	COMPANY LIMITS ON SUBSCRIPTION FOR NEW SHARES 

  

	13.1	The Company may issue Shares to the Trustee for the purpose of enabling the Trustee to satisfy any obligations it may have to transfer Shares to Optionholders on the exercise of Options. 

10% in 10 year limit for all plans 
  

	13.2	The number of Shares in respect of which Subscription Options may be granted on any day, when added to the number of Shares:- 

  

	 	13.2.1	issued under rights to subscribe for Shares; and 

  

	 	13.2.2	in respect of which rights to subscribe for Shares have previously been granted (and which have neither been exercised nor ceased to be exercisable) 

pursuant to this Plan and any other employees’ share plan in the period of 10 years preceding that day shall not exceed such number of
Shares as represents 10 per cent of the Ordinary Share Capital on that day. 
  

	13.3	The total number of Shares over which Options may be granted in response to Applications may not exceed the maximum number of Shares (if any) determined and published by the Directors on any occasion pursuant to
Rule 5.4. 

  

	13.4	To the extent that the Trustee has purchased Shares to be transferred to Optionholders in satisfaction of any Subscription Options, the Shares over which such Options are held shall be left out of account for the
purposes of this Rule 13. 

  

	13.5	For the purposes of this Rule 13, references to rights to subscribe for Shares shall:- 

  

	 	13.5.1	if so required in accordance with guidance issued by The Investment Association, be taken to include references to a right to acquire Shares issued or to be issued out of treasury; and 

 

	 	13.5.2	exclude any Options or rights to subscribe for Shares which have in fact been, or will be, satisfied by the transfer of Shares by an existing shareholder (other than the Company itself). 

 

	13.6	To avoid double counting, if new Shares have been issued to a Trustee for the purposes of satisfying Options (or rights to subscribe for Shares under any other employees’ share plan), such Shares shall be taken
into account for these purposes only when they are made subject to, or used to satisfy, an Option (or a right to subscribe for Shares under any other employees’ share plan). 

  
 11 

 PART C: EXERCISE OF OPTIONS 

 

	14.	EXERCISE OF OPTIONS 

 General rule 

 

	14.1	Subject to the following provisions of this Rule 14 and Rules 16 and 17, an Option shall only be exercisable within the period of 6 months after the Bonus Date. If the Option is not then exercised,
it shall lapse and cease to be exercisable at the end of that period. 

 Reaching specified retiring age without retiring

  

	14.2	For Options granted before 17 July 2013, if, before an Option has lapsed or otherwise been exercised the Optionholder attains age 65 but continues to be an Employee, he may exercise the Option, to the extent
permitted by Rule 15.1.2, during the period of 6 months commencing on his attaining age 65. 

 Employment in
Associated Company at Bonus Date 
  

	14.3	If, at the Bonus Date, an Optionholder holds an office or employment in a company which is not a Participating Company, but is an Associated Company, then the Optionholder may exercise an Option within the period of 6
months after the Bonus Date. If the Option is not then exercised, it shall lapse and cease to be exercisable at the end of that period. 

Plan-related employment ends 
  

	14.4	Subject to Rule 14.8, if an Optionholder ceases to be an Employee by reason of:- 

  

	 	14.4.1	injury or disability (evidenced to the satisfaction of the Directors); 

  

	 	14.4.2	dismissal by reason of redundancy (within the meaning of the Employment Rights Act 1996); 

  

	 	14.4.3	retirement4 

  

	 	14.4.4	the fact that the office or employment by virtue of which he is eligible to participate in this Plan relates to a business or part of a business which is transferred to a person which is not an Associated Company where
the transfer is not a relevant transfer within the meaning of the Transfer of Undertakings (Protection of Employment) Regulations 20065; 

 

	 	14.4.5	a relevant transfer within the meaning of the Transfer of Undertakings (Protection of Employment) Regulations 2006; or 

  

	 	14.4.6	if the Optionholder holds office or is employed in a company which is a Related Company, that company ceasing to be a Related Company by reason of a change of control (as determined in accordance with sections 450 and
451 of the Corporation Tax Act 2010) 

  

	4 	Before Finance Act 2013, retirement under the Plan applied on reaching either age 65 or any other age at which the Optionholder was bound to retire in accordance with the terms of his contract of employment or with the
consent of the Directors more than 3 years after the Date of Grant. 

	5 	This Rule applied differently to leavers before 6 April 2014. 

  
 12 

 
then (without prejudice to any rights the Optionholder has under the Employee’s Savings Contract to make independent arrangements with the Savings Body to continue to make contributions
following cessation of his employment):- 
  

	 	(a)	his Option may be exercised, to the extent permitted by Rule 15.1.2, during the period of 6 months commencing on the date on which the Optionholder ceases to be an Employee; 

 

	 	(b)	to the extent not exercised, the Option shall lapse and cease to be exercisable at the end of the relevant 6 month period; and 

  

	 	(c)	an Option may not in any event be exercised more than 6 months after the Bonus Date. 

 Death
of Optionholder 
  

	14.5	For Options granted before 6 April 2014, if an Optionholder dies, his Personal Representatives may exercise an Option:- 

  

	 	14.5.1	if the Optionholder dies before the Bonus Date, to the extent permitted by Rule 15.1.2, during the period of 12 months commencing on the date of his death; 

 

	 	14.5.2	if the Optionholder dies within the period of 6 months after the Bonus Date, during the period of 12 months commencing on the Bonus Date 

and, if it is not then exercised, the Option shall lapse and cease to be exercisable at the end of the relevant 12 month period. 

 

	14.6	For Options granted on/after 6 April 2014, notwithstanding any other provision set out in these rules, except Rules 14.13 and 17, if an Optionholder dies, his Personal Representatives may exercise an
Option:- 

  

	 	14.6.1	if the Optionholder dies before the Bonus Date, to the extent permitted by Rule 15.1.2, at any time during the period of 12 months commencing on the date of his death; 

 

	 	14.6.2	if the Optionholder dies within the period of 6 months after the Bonus Date, at any time during the period of 12 months commencing on the Bonus Date 

and, if it is not then exercised, the Option shall lapse and cease to be exercisable at the end of the relevant 12 month period. 

Cessation of Plan-related employment in other circumstances 

 

	14.7	Subject to Rule 14.8, if at any time an Optionholder ceases to be an Employee otherwise than as mentioned in Rules 14.4, 14.5 or 14.6 any Option which he holds shall lapse and cease to be exercisable upon
cessation. 

 Time when Plan-related employment ends 

 

	14.8	No Optionholder shall be treated for the purposes of Rules 14.2, 14.4, 14.7 or 14.12 as ceasing to be an Employee until he no longer holds any office or employment in a Participating Company or any Related
Company. 

 Early repayment of, or ceasing to make, contributions 

 

	14.9	An Option shall immediately cease to be exercisable (unless such Option is then exercisable by reason of this Rule 14 or Rules 16, 17 or 18):- 

 

	 	14.9.1	if an Optionholder obtains repayment of the contributions under a Savings Contract relating to that Option; or 

  

	 	14.9.2	on the seventh occasion on which an Optionholder omits to make payment under the Savings Contract relating to that Option. 

  
 13 

 No exercise more than 6 months after Bonus Date 

 

	14.10	Except as provided in Rules 14.5 and 14.6, no Option shall be capable of being exercised later than 6 months after the Bonus Date. 

Exercise once only 
  

	14.11	An Option may be exercised once only. If, on exercise, an Option is not exercised to the extent permitted by Rule 15.1, it shall lapse and cease to be exercisable in respect of the balance of the Shares over which
it was granted. 

 Additional requirements 
  

	14.12	No Option may be exercised by any Optionholder who is (or at the date of his death was) not an Employee (unless the Option is or was at the date of his death exercisable pursuant to Rules 14.3, 14.4, 14.5, 14.6,
16, 17 and 18). 

  

	14.13	No Option may be exercised when prohibited by or in breach of any law or regulation with the force of law, or when prohibited by or in breach of any rule of an investment exchange on which Shares are listed or traded,
or any other non-statutory rule that binds the Company or with which the Directors have resolved to comply. 

  

	15.	MANNER OF EXERCISE OF OPTIONS 

  

	15.1	An Option may only ever be exercised in respect of the following number of Shares:- 

  

	 	15.1.1	if the Option is exercisable pursuant to Rule 14.1, 14.3, 14.5.2 or 14.6.2, the maximum number of Shares over which it subsists; or 

 

	 	15.1.2	if the Option is exercisable pursuant to Rules 14.2, 14.4, 14.5.1, 14.6.1, 16 ,17 or 18:- 

  

	 	(a)	the number of Shares for which the Acquisition Cost payable is most nearly equal to, but does not exceed:- 

  

	 	(i)	the aggregate amount of contributions paid under the Employee’s Savings Contract (excluding the amount of any monthly contribution, the due date of payment of which, is more than one calendar month after the date
on which repayment is made under the Employee’s Savings Contract); and 

  

	 	(ii)	the amount of any bonus and interest received or due under the Employee’s Saving Contract as at that date; or 

  

	 	(b)	(if less) the maximum number of Shares in respect of which the Option subsists; or 

  

	 	15.1.3	in either case, such lesser number of Shares as the Optionholder specifies in his notice of exercise pursuant to Rule 15.2. 

  

	15.2	An Option shall be exercised by the Optionholder giving written notice (which may be in electronic form) to the Company or to such person at such address as may from time to time be notified to Optionholders which:-

  

	 	15.2.1	is given at any time when the Option is exercisable; 

  

	 	15.2.2	states that the Option is being exercised in respect of all the Shares in respect of which it is then capable of being exercised or otherwise specifies the number of Shares in respect of which the Option is being
exercised in accordance with Rule 15.1; 

  
 14 

	 	15.2.3	is accompanied by the Acquisition Cost or a duly completed application to the Relevant Savings Body for payment of the Repayment Value of the Employee’s Savings Contract; and 

 

	 	15.2.4	is in such form and accompanied by such documents as the Directors may determine. 

  

	15.3	Where a Trustee has agreed to satisfy Options granted by the Company the monies paid by the Optionholder to exercise that Option shall be paid to the Company as agent for the Trustee unless the relevant Trustee and the
Company agree otherwise prior to the exercise of the Option. 

  

	15.4	Subject to Rule 15.8, not later than 30 days after the date on which the Company shall have received the Acquisition Cost, the Company shall issue, transfer or procure the issue or transfer to the Optionholder
of the number of Shares over which the Option is then exercised and as soon as reasonably practicable thereafter:- 

  

	 	15.4.1	if at that time Shares are listed on the Official List, procure that Shares allotted to the Optionholder are admitted to the Official List; and 

 

	 	15.4.2	issue, or procure the issue of, a definitive share certificate or such other acknowledgement of shareholding as is prescribed from time to time in respect of the Shares so allotted or transferred. 

 

	15.5	If the amount received by the Company is greater than the Acquisition Cost of the Shares in relation to which the Optionholder has served a notice of exercise under Rule 15.2, the Company shall procure repayment of
the excess amount to the Optionholder. 

  

	15.6	The Company may, if the Optionholder so requests in writing, allot and issue or transfer some or all of the Shares to:- 

  

	 	15.6.1	a nominee of the Optionholder (provided that beneficial ownership of such Shares shall be vested in the Optionholder); 

  

	 	15.6.2	to an account manager (or his nominee) of an individual savings account on terms that the Shares shall be in the beneficial ownership of the Optionholder notwithstanding that title to such Shares shall be vested in the
account manager or his nominee or jointly in one of them and the Optionholder; or 

  

	 	15.6.3	to the trustee or manager of a defined contribution pension scheme registered within the meaning of section 150(2) of the Finance Act 2004 (which may include a stakeholder pension scheme) 

and for the purposes of Rule 15.6.2, the terms ‘account manager’ and ‘individual savings account’ shall have the
meanings they bear in the Individual Savings Account Regulations 1998 (SI 1998/1870). 
  

	15.7	All Shares allotted or transferred on the exercise of any Option shall rank equally in all respects with the Shares then in issue, except for any rights attaching to such Shares by reference to a record date prior to
the date of such allotment or transfer. 

  

	15.8	The allotment or transfer of Shares on the exercise of an Option shall be subject to the Articles of Association of the Company and to any necessary consents of any governmental or other authorities (whether in the
United Kingdom or elsewhere) under any enactments or regulations from time to time in force. It shall be the responsibility of the Optionholder to comply with any requirements to be fulfilled in order to obtain or obviate the necessity for any such
consent. 

  
 15 

 PART D: CORPORATE TRANSACTIONS 

 

	16.	RECONSTRUCTION 

  

	16.1	If the court sanctions a compromise or arrangement under section 899 of the Companies Act 2006 applicable to or affecting:- 

  

	 	16.1.1	all the ordinary share capital of the Company or all the shares of the same class as the Shares; or 

  

	 	16.1.2	all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 3 SAYE
Option Scheme, 

 the Directors shall forthwith notify every Optionholder and Options may be exercised (to the extent
permitted by Rule 15.1.2):- 
  

	 	(a)	subject to Rule 16.1.2(b), within one month of such notification; or 

  

	 	(b)	if, in consequence of a person obtaining Control of the Company as a result of such a compromise or arrangement, the shares in the Company to which an Option relates no longer meet the requirements of Part 4 of Schedule
3, no later than 20 days after the Relevant Date, notwithstanding that the shares no longer meet those requirements 

PROVIDED THAT 
  

	 	(i)	in any event, Options are not exercised more than 6 months after the Bonus Date; 

  

	 	(ii)	Options are not exercised more than 6 months after the date on which the court sanctions the compromise or arrangement as mentioned above; and 

 

	 	(iii)	to the extent not exercised, the Option shall lapse and cease to be exercisable at the end of the relevant period for exercise as set out above and shall only remain in existence for the purpose of forming the subject
of an offer (if any) made pursuant to Rule 19.1 and shall lapse on the expiry of the “appropriate period” as defined in Rule 19.2 if such offer is made but is not accepted by the Optionholder. 

 

	16.2	In addition to Rule 16.1, an Option which is exercised no earlier than 20 days before the relevant date (as referred to in paragraph 37(4) of Schedule 3) is to be treated as if it had been exercised in accordance with
Rule 16.1.2(a) PROVIDED THAT any such exercise in anticipation shall be treated as having had no effect if the relevant date (as referred to in paragraph 37(4) of Schedule 3) does not fall within the period of 20 days beginning with the date
on which the Option is exercised.6 

  

	17.	WINDING-UP 

  

	17.1	If notice is given to the holders of Shares of a resolution for the voluntary winding-up of the Company, each Optionholder shall be entitled to exercise his Option, to the extent permitted by Rule 15.1.2, at any
time within the period of 6 months commencing on the date on which the resolution is passed (but not in any event more than 6 months after the Bonus Date). 

  

	17.2	All Options shall immediately lapse and cease to be exercisable upon the commencement of a winding-up of the Company. 

 

	6 	As at 7 April 2015, HMRC guidance indicates that Rule 16.2 will only apply to Options granted on/after 7 April 2015. 

  
 16 

	18.	CHANGE OF CONTROL 

  

	18.1	If, as a result of either:- 

  

	 	18.1.1	a general offer to acquire the whole of the Ordinary Share Capital (whether excluding or including any Shares held in treasury but disregarding any shares owned by the offeror or a person connected to the offeror) which
is made on a condition such that if it is satisfied the person making the offer will have Control of the Company; or 

  

	 	18.1.2	a general offer to acquire all the shares in the Company of the same class as the Shares (disregarding any shares owned by the offeror or a person connected to the offeror) 

the Company shall come under the Control of another person:- 
  

	 	(a)	the Directors shall as soon as reasonably practicable thereafter notify every Optionholder accordingly; 

  

	 	(b)	the Optionholder shall be entitled to exercise his Option, to the extent permitted by Rule 15.1.2:- 

  

	 	(i)	subject to Rule 18.1.2(b)(ii), within 6 months of the date when the person making the offer has obtained Control of the Company and any condition subject to which the offer is made has been satisfied; or

  

	 	(ii)	if, in consequence of the Company coming under the Control of such other person, the shares in the Company to which an Option relates no longer meet the requirements of Part 4 of Schedule 3, no later than 20 days after
the Relevant Date, notwithstanding that the shares no longer meet those requirements 

 PROVIDED THAT 

 

	 	(1)	in any event, Options are not exercised more than 6 months after the Bonus Date; 

  

	 	(2)	Options are not exercised more than 6 months after the date when the person making the offer has obtained Control of the Company and any condition to which the offer is made has been satisfied; and 

 

	 	(3)	the extent not exercised, the Option shall lapse and cease to be exercisable at the end of the relevant period for exercise as set out above and shall only remain in existence for the purpose of forming the subject of
an offer (if any) made pursuant to Rule 19.1 and shall lapse on the expiry of the “appropriate period” as defined in Rule 19.2 if such offer is made but is not accepted by the Optionholder. 

 

	18.2	For the purposes of Rule 18.1:- 

  

	 	18.2.1	“connected” has the meaning given in section 718 ITEPA; and 

  

	 	18.2.2	it does not matter if the general offer is made to different shareholders by different means. 

  

	18.3	If at any time any person becomes entitled or bound to acquire shares in the Company under Sections 979 to 982 or 983 to 985 (inclusive) of the Companies Act, the Optionholder shall be entitled to exercise his
Option, to the extent permitted in Rule 15.1.2:- 

  

	 	18.3.1	subject to Rule 18.3.2, at any time when that person remains so entitled or bound; or 

  
 17 

	 	18.3.2	if, in consequence of a person who is so entitled or bound obtaining Control of the Company, the shares in the Company to which an Option relates no longer meet the requirements of Part 4 of Schedule 3, no later than 20
days after the Relevant Date, notwithstanding that the shares no longer meet those requirements 

 PROVIDED THAT 

 

	 	(a)	in any event Options are not exercised more than 6 months after the Bonus Date; 

  

	 	(b)	Options are only exercised at a time when such person remains so entitled or bound; and 

  

	 	(c)	to the extent not exercised, the Option shall lapse and cease to be exercisable at the end of the relevant period for exercise as set out above and shall only remain in existence for the purpose of forming the subject
of an offer (if any) made pursuant to Rule 19.1 and shall lapse on the expiry of the “appropriate period” as defined in Rule 19.2 if such offer is made but is not accepted by the Optionholder. 

 

	18.4	In addition to Rules 18.1 and 18.3, an Option which is exercised no earlier than 20 days before, as appropriate:- 

  

	 	18.4.1	the relevant date as referred to in paragraph 37(2) of Schedule 3; or 

  

	 	18.4.2	the date on which any person becomes entitled or bound to acquire shares as mentioned in Rule 18.3 

is to be treated as if it had been exercised in accordance with Rule 18.1.2(b)(i) or 18.3.1 (as the case may be) PROVIDED THAT any such
exercise in anticipation of the relevant event shall be treated as having had no effect if, as appropriate:- 
  

	 	(a)	the relevant date as referred to in paragraph 37(2) of Schedule 3 does not fall within the period of 20 days beginning with the date on which the Option is exercised; or 

 

	 	(b)	the person does not become entitled or bound to acquire shares in the Company by the end of the period of 20 days beginning with the date on which the Option is
exercised.7 

  

	19.	OPTION ROLLOVER 

  

	19.1	If any company (in this Rule referred to as the “acquiring company”):- 

  

	 	19.1.1	obtains Control of the Company as mentioned in Rule 18.1; 

  

	 	19.1.2	obtains Control of the Company in pursuance of a compromise or arrangement sanctioned by the court made under Section 899 of the Companies Act; or 

 

	 	19.1.3	becomes bound or entitled to acquire shares in the Company under Sections 979 to 982 or 983 to 985 (inclusive) of the Companies Act 

an Optionholder may, at any time within the “appropriate period” as mentioned in Rule 19.2, by agreement with the acquiring
company, release his rights under his Option in consideration of the grant to him of rights to acquire shares in the acquiring company or any other company falling 

 

	7 	As at 7 April 2015, HMRC guidance indicates that Rule 18.4 will only apply to Options granted on/after 7 April 2015. 

  
 18 

 within sub-paragraphs (b) and (c) of paragraph 18 of Schedule 3 (read and
construed as if references in those provisions to the Company were references to the acquiring company) PROVIDED THAT:- 
  

	 	(a)	such rights will be exercisable only in accordance with the provisions of this Plan as it had effect immediately before the release of the rights referred to above (read and construed as mentioned in Rule 19.3);

  

	 	(b)	the shares to which the new rights relate satisfy the provisions of paragraphs 18 to 20 (inclusive) and 22 of Schedule 3; 

  

	 	(c)	the total market value, immediately before such release, of the Shares over which the Option then subsists is substantially the same as the total market value, immediately after such grant, of the shares over which new
rights are granted to the Optionholder provided that the market value of shares subject to a Restriction is to be determined as if they were not subject to the Restriction, and for the purposes of this Rule 19.1.3(c), market value shall be
determined using a methodology agreed by HMRC; and 

  

	 	(d)	the total amount payable by the Optionholder for the acquisition of shares on exercise of the new rights is substantially the same as the total amount that would have been payable for the acquisition of Shares on
exercise of the Option. 

  

	19.2	In Rule 19.1 the “appropriate period” means:- 

  

	 	19.2.1	in a case falling within Rule 19.1.1, the period of 6 months beginning with the time when the person making the offer has obtained Control of the Company and any condition or conditions subject to which the offer
is made has or have been satisfied or waived; 

  

	 	19.2.2	in a case falling within Rule 19.1.2, the period of 6 months beginning with the time when the court sanctions the compromise or arrangement; and 

 

	 	19.2.3	in a case falling within Rule 19.1.3, the period during which the acquiring company remains bound or entitled as mentioned in that Rule. 

 

	19.3	For the purposes mentioned in sub-clause 19.1.3(a) of the provisos to Rule 19.1, the provisions of this Plan shall be read and construed as if:- 

 

	 	19.3.1	references to “the Company”, except for the purposes of the definition of Participating Company and Rule 21.1, were references to the company in respect of whose shares the new rights are granted;

  

	 	19.3.2	references to “Shares”, were references to such shares; 

  

	 	19.3.3	references to “Option”, were references to such rights; 

  

	 	19.3.4	references to “Optionholder”, were references to the persons to whom such rights are granted; 

  

	 	19.3.5	references to “Ordinary Share Capital”, were references to the ordinary share capital (other than fixed rate preference shares) of such company; 

 

	 	19.3.6	references to “the Directors”, except for the purposes of Rule 21.1, were references to the directors of such company; and 

 

	 	19.3.7	references to “the Exercise Price”, were references to the price per share payable upon the exercise of such new rights. 

  

	19.4	Rights granted pursuant to Rule 19.1 shall be regarded for the purposes of the SAYE Code and for the purposes of the subsequent application of the provisions of this Plan as having been granted on the Date of Grant
of the corresponding rights released as mentioned in Rule 19.1. 

  
 19 

	19.5	For the purposes of Rules 18 and 19 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 it. 

 

	19.6	For the avoidance of doubt, an event causing the release and grant of rights pursuant to Rule 19.1 will not trigger the exercise of those new rights in accordance with either of Rules 16 or 18. 

  
 20 

 PART E: AMENDMENTS 

 

	20.	VARIATION OF SHARE CAPITAL 

  

	20.1	If the Ordinary Share Capital is increased or altered by way of a capitalisation or rights issue, sub-division, consolidation, reduction or there is any other variation in the share capital of the Company, the Directors
may make such adjustment as they consider appropriate:- 

  

	 	20.1.1	to the number or description of Shares subject to any Option; and/or 

  

	 	20.1.2	to the Exercise Price; and/or 

  

	 	20.1.3	where an Option has been exercised but no Shares have been allotted or transferred in accordance with Rule 15.4, to the number or description of Shares which may be so allotted or transferred and the Acquisition
Cost in relation to such Shares 

 PROVIDED THAT:- 

 

	 	(a)	except insofar as the Directors (on behalf of the Company) agree to capitalise the Company’s reserves and apply the same at the time of exercise in paying up the difference between the Exercise Price and the
nominal value of the Shares, the Exercise Price of any Subscription Option shall not be reduced below a Share’s nominal value; 

  

	 	(b)	the number of Shares as so adjusted has been rounded down to the nearest whole number; 

  

	 	(c)	the total Market Value of the Shares over which the Option subsists is substantially the same immediately before and immediately after the adjustment; 

 

	 	(d)	the total amount payable on the exercise of any Option in full is substantially the same immediately before and immediately after the adjustment; and 

 

	 	(e)	if it is intended that this Plan shall continue to be a Schedule 3 SAYE Option Scheme, no adjustment shall be made which would result in the requirements of Schedule 3 not being met in relation to an Option.8 

  

	20.2	The Directors shall notify every Optionholder affected by an adjustment under Rule 20.1 as soon as reasonably practicable after making the adjustment. The Directors shall deliver, or procure the delivery of, a
revised Option Certificate to any Optionholder who asks for an amended Option Certificate. 

  

	21.	ALTERATION OF THE PLAN 

  

	21.1	The Directors may at any time alter or add to any of the provisions of this Plan in any respect PROVIDED THAT:- 

  

	 	21.1.1	if it is intended that this Plan shall continue to be a Schedule 3 SAYE Option Scheme, no alteration or addition to a Key Feature shall take effect which would result in the requirements of Schedule 3 not being met in
relation to an Option; or 

  

	 	21.1.2	no alteration or addition shall be made to the advantage of existing or new Optionholders to the provisions relating to eligibility to participate, the overall limitations on the issue of new Shares, the individual
limitations on Option grants under this Plan, the basis for 

  

	8 	Finance Act 2014 removed the requirement for HMRC to approve variations in these circumstances, however HMRC guidance (ESSUM 35160) still states that: “where there is a variation in the share capital of the
company, the agreement of HMRC’s Shares & Assets Valuation must be secured”. 

  
 21 

	 	
determining Optionholders’ rights to acquire Shares, the adjustment of such rights in the event of variation of the Ordinary Share Capital or this Rule 21 without the prior approval by
ordinary resolution of the shareholders of the Company SAVE THAT the provisions of this Rule 21.1.2 shall not apply to the extent that the alteration or addition is in the opinion of the Directors:- 

 

	 	(a)	a minor amendment which is necessary or appropriate to benefit the administration of this Plan; 

  

	 	(b)	to take account of any change in legislation; 

  

	 	(c)	to ensure that the Plan complies with the requirements of Schedule 3; or 

  

	 	(d)	to obtain or maintain favourable tax, exchange control or regulatory treatment for existing or new Optionholders, the Company, any Related Company or any Associated Company. 

 

	21.2	Details of any alteration or addition shall be given to any affected Optionholder as soon as reasonably practicable. 

  

	21.3	No alteration or addition shall be effective which would materially prejudice the interests of Optionholders in relation to Options already granted to them unless the sanction of Optionholders has been obtained in
accordance with the provisions for the alteration of class rights contained in the Articles of Association of the Company for the time being for which purpose an Optionholder shall be regarded as holding the number of Shares comprised in Options
granted to him remaining capable of being exercised. 

  

	21.4	An Extraordinary Resolution of a meeting of Optionholders held in accordance with Rule 21.3 shall have the power to sanction any compromise or arrangement affecting Options or the rights thereunder and shall be binding
on all Optionholders. 

  
 22 

 PART F: MISCELLANEOUS 

 

	22.	SERVICE OF DOCUMENTS 

  

	22.1	Except as otherwise provided in this Plan, any notice or document to be given by, or on behalf of any person to any Employee or Optionholder in accordance or in connection with this Plan may be given by hand or sent by
post to that person’s work or home postal address (as last known to the Company to be his address) or given electronically. Subject to Rule 22.4, any notice or document given in accordance with this Rule 22.1 shall be deemed to have been
given:- 

  

	 	22.1.1	upon delivery if delivered by hand; 

  

	 	22.1.2	if sent by first class post, on the day after posting and if sent by second class post on the second day after posting; or 

  

	 	22.1.3	at the time of transmission if sent electronically. 

  

	22.2	Any notice or document so sent to an Employee or Optionholder shall be deemed to have been duly given notwithstanding that such Employee or Optionholder is then deceased (and whether or not the Company has notice of his
death) except where his Personal Representatives have supplied to the Company an alternative address to which documents are to be sent. 

  

	22.3	Any notice or document to be submitted or given to the Company, the Directors, the Trustee, the Savings Contract operator or any administrator of this Plan in accordance or in connection with this Plan may be given by
hand, sent by post, facsimile transmission or electronically but shall not in any event be duly given unless it is in the form specified and it is actually received (or, in the case of an e-mail, opened) by the individual at the relevant recipient
from time to time nominated for the purposes of receiving notices or documents under this Plan and whose name and address is notified to Employees and/or Optionholders, as appropriate. 

 

	22.4	For the purposes of this Plan, an e-mail shall be treated as not having been duly sent or received if the recipient of such e-mail notifies the sender that it has not been opened because it contains, or is accompanied
by a warning or caution that it could contain or be subject to, a virus or other computer programme which could alter damage or interfere with any computer software or e-mail. 

 

	22.5	References in these rules to notifications being made, or notices or documents being given, electronically include those:- 

  

	 	22.5.1	sent by SMS text message (to the telephone number last known by the sender to be the person’s telephone number); 

  

	 	22.5.2	sent by e-mail (to the address last known by the sender to be the person’s email address); and 

  

	 	22.5.3	posted on an internal/external portal to which the Employee or Optionholder has access. 

  

	23.	DATA PROTECTION 

  

	23.1	In accepting the grant of an Option, the Optionholder shall agree and consent to:- 

  

	 	23.1.1	the collection, holding, use, processing and transfer of his Personal Data by any member of the Group, any Associated Company or Jointly-Owned Company, the Trustee, any third party administrator of the Plan and the
Company’s brokers or registrars; 

  

	 	23.1.2	any member of the Group, any Associated Company or Jointly-Owned Company, the Trustee, any third party administrator of the Plan and the Company’s brokers or registrars transferring the Optionholder’s Personal
Data amongst themselves for the purposes of implementing, administering and managing this Plan and the grant of Options and the acquisition of Shares pursuant to Options; 

  
 23 

	 	23.1.3	the use of Personal Data by any such person for any such purposes; 

  

	 	23.1.4	the transfer to, and retention of, Personal Data by third parties (whether or not any such third party is situated outside the European Economic Area) for or in connection with such purposes; and 

 

	 	23.1.5	transferring the Optionholder’s Personal Data to a bona fide prospective buyer (or the prospective buyer’s advisers) of the Company or his employing company or business unit provided that the prospective buyer
(and its advisers) irrevocably agree to use the Personal Data only in connection with the proposed transaction and in accordance with the data protection principles set out in the Data Protection Act 1998. 

 

	24.	OBLIGATION TO ENSURE SUFFICIENT AUTHORISED SHARES 

  

	24.1	The Company shall ensure that any necessary authorisations are or will be in place at the relevant time to allow the issue of sufficient Shares to satisfy the exercise in full of all Subscription Options for the time
being capable of being exercised. 

  

	24.2	No Option to purchase existing Shares shall be granted by any person unless that person beneficially owns the Shares at the Date of Grant or the Directors are satisfied that sufficient Shares will be made available to
satisfy the exercise in full of all Options granted or to be granted by that person. 

  

	24.3	The Company may issue Shares, and grant rights to acquire Shares, to a Trustee for the purpose of enabling the Trustee, in the exercise of its powers to transfer or procure the issue or transfer of Shares on the
exercise of Options PROVIDED THAT any Shares issued or in respect of which rights to subscribe are granted by the Company (and which, if not exercised, do not lapse) shall count in applying the overall limitations on the issue of Shares imposed by
Rule 13. 

  

	25.	JURISDICTION 

  

	25.1	This Plan and any Option shall be governed by, and construed in all respects in accordance with, English law. 

  

	25.2	The courts of England shall have exclusive jurisdiction in relation to any claim, dispute or difference concerning an Option and any matter arising from or in relation to this Plan. 

 

	26.	THIRD PARTY RIGHTS 

 Except as otherwise expressly stated to the contrary, neither
this Plan nor the Contracts (Rights of Third Parties) Act 1999 shall have the effect of giving any third party any rights under this Plan and that Act shall not apply to this Plan nor to any Option. 

  
 24

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