SCHEDULES

SCHEDULE 4Approved CSOP schemes

Part 3Eligibility of individuals to participate in scheme

The employment requirement

8

1

The scheme must ensure that an individual is not eligible to be granted share options under the scheme at a particular time unless the individual is then a full-time director or a qualifying employee of—

a

the scheme organiser, or

b

in the case of a group scheme, a constituent company.

2

A “qualifying employee”, in relation to a company, means an employee of the company other than one who is a director of—

a

the company, or

b

in the case of a group scheme, a constituent company.