The Free Shares scheme Terms and Conditions

[TrueBlueTerrier]

The Free Shares scheme will have the following terms to promote its longevity, ensure that employees can own shares in the most tax advantaged manner possible and to align employee engagement with that of Royal Mail:

• in accordance with HMRC Share Incentive Plan rules, employees will be required to hold the shares for at least three years through a specially appointed trustee. Full tax benefits are only available if the shares are held for at least five years or for ‘good leavers’;
• shares will be forfeited if the employee leaves Royal Mail within three years of their award. This will not apply to ‘good leavers’ whose shares will vest tax-free upon departure;
• shares will be allocated to full time employees equally, regardless of grade or pay levels. The allocation will be pro-rated for part time employees based on an employee’s paid hours to differentiate between full and part time workers; and
• to be entitled to shares, employees must have been employed by Royal Mail for a qualifying period prior to listing.

(Extract from http://www.royalmailchat.co.uk/communit ... 38&t=54000" onclick="window.open(this.href);return false;)

Cheers FT

[TrueBlueTerrier]

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