Example 2

A is employed by B. Under the contract of employment, A is entitled to an annual salary of £100,000 payable monthly and may be awarded a performance bonus at the discretion of the Remuneration Committee. Employment may be terminated by either party on giving 6-months notice.

Following a meeting of the Remuneration Committee, on 31 January 2016, A is notified of the conditional offer of a performance bonus of £200,000 in respect of the performance year ended 31 December 2015. £200,000 will be paid on 31 March 2016 subject to the following conditions:

(1)That A confirms acceptance of the offer by 1 March 2016.

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