Barclays 2010 Annual Report Download - page 183

Table 24: Summary of principal share plans and long term incentive plans under which awards were made in 2010 continued
Name of plan Employees eligible
Executive
Directors
eligible? Delivery Design details
Executive Share
Award Scheme
(ESAS)
Selected
employees
Yes Deferred Barclays shares released
after three years subject to
trustee discretion
– From 2011, it is proposed that ESAS is replaced by SVP.
Details of the SVP are included in Table 24 and further
details are in the Notice of Meeting for the 2011 AGM
which is online at www.barclays.com/investorrelations
– Discretionary award of a proportion of variable
remuneration as Barclays shares. In addition to
mandatory deferral, eligible employees may voluntarily
defer additional amounts of variable remuneration
awarded. In 2010 awards under ESAS were made on
a limited basis as CVP and SVP were the principal
mandatory deferral plans
– Subject to trustee discretion, the ESAS award vests
after three years, at which point "bonus shares" equal
to 20% of the value of the initial award may be
released. If the participant does not withdraw the award
shares until the fifth anniversary of the award date, a
further 10% bonus shares may be released. Dividend
shares may also be released by the ESAS trustee
– Awards are subject to forfeiture if the participant leaves
Barclays other than for eligible leaver reasons
Business unit
long term
incentive plans
Selected senior
employees
(excluding
executive Directors)
within each
business unit
No Design varies by business unit,
awards vest after at least three
years, with additional deferral
after this period. Awards typically
vest 50% in cash and 50% in
Barclays share awards
– Awarded on a discretionary basis
– Risk-adjusted performance conditions vary by business
unit to reflect individual business strategy
– Plans include a prudent financial control provision
which gives the Committee power to alter the vesting
of awards based on Group financial performance
– Awards are subject to forfeiture if the participant leaves
Barclays other than for eligible leaver reasons
Sharesave All UK, Ireland and
Spain employees
Yes Options over Barclays shares at
a discount of 20% with shares or
cash value of savings delivered
after 3 - 7 years
– HMRC approved in the UK and approved by the
Revenue Commissioners in Ireland
– Opportunity to purchase Barclays shares at a discount
price (currently at 20%) set on award date with savings
made over 3, 5 or 7 year term
– Maximum individual saving of £250 per month
(€300 in Ireland, €225 in Spain)
– On cessation of employment eligible leavers may
exercise options and acquire shares to the extent of
their savings for 6 months
– On change of control, participants may exercise options
and acquire shares to the extent of their savings for
6 months
Sharepurchase All employees in
the UK
Yes Barclays shares and dividend/
matching shares held in trust
for 3 to 5 years
– HMRC approved plan
– Participants may purchase up to £1,500 of Barclays
shares each tax year
– Barclays matches the first £600 of shares purchased
by employees on a one for one basis
– Dividends received are awarded as additional shares
– Purchased shares may be withdrawn at any time (if
removed prior to 3 years from award, the corresponding
matching shares are forfeited). Matching shares must
be held in trust for at least 3 years
– On cessation of employment participants must
withdraw shares. Depending on reason for and timing
of leaving matching shares may be forfeited
– On change of control, participants are able to
instruct the Sharepurchase trustee how to act or vote
on their behalf
Global
Sharepurchase
Employees in
certain non-UK
jurisdictions
Yes Barclays shares and dividend/
matching shares held in trust
for 3 to 5 years
– Global Sharepurchase is an extension of the
Sharepurchase plan offered in the UK
– Operates in substantially the same way as
Sharepurchase (see above)
Barclays PLC Annual Report 2010 www.barclays.com/annualreport10 181
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