long-term incentive scheme

(in UKLR105) any arrangement (other than a retirement benefit plan, a deferred bonus or any other arrangement that is an element of an executive director's remuneration package) which may involve the receipt of any asset (including cash or any security94) by a director or employee of the group:

1. (a) which includes one or more conditions in respect of service and/or performance to be satisfied over more than one financial year; and
2. (b) pursuant to which the group may incur (other than in relation to the establishment and administration of the arrangement) either cost or a liability, whether actual or contingent.14