Tax-Approved Savings-Related Share Option Scheme

An all-employee scheme

The company grants share options to employees on an all-employee basis to purchase shares in the company at a discount of up to 20% of the market value of the shares at the time of grant. The employees save in order to build a fund that is available for the purchase of shares either 3 or 5 or 7 years later. The increase in value of the shares from date of grant to date of exercise is income tax-free. The International Savings-Related Share Option Scheme mirrors the U.K. version in its structure with tax reliefs around the world determined by their availability within individual country tax regimes.