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This information sets out the disclosure required by section 430(2B) of the Companies Act 2006 in relation to Edward Bonham Carter stepping down as a Director of the Company.
Further to the RNS announcement on 12 October 2020, Edward Bonham Carter will step down as Vice Chairman and as a Director of Jupiter Fund Management plc (“JFM plc”) with effect from the Company’s 2021 AGM. As required by section 430(2B) of the Companies Act 2006, details of the associated remuneration payments made or to be made to him are detailed below.
1. Salary and benefits
Following stepping down from the Board, Edward will remain an employee of the Jupiter Group and will continue to receive a contractual salary and benefits (including pension provision) in line with those offered to all other employees.
As Edward will remain an employee of the Jupiter Group after ceasing to be a Board Director, he will remain eligible to receive an annual bonus. Any bonus award for 2021 will be determined in two parts. For the period of the 2021 performance year which he serves as an Executive Director of JFM plc, any pro-rata bonus will be determined under the Directors Remuneration Policy and in line with the balanced scorecard. Outcomes from the 2021 balanced scorecard will be fully disclosed in the 2021 Directors Remuneration Report. In relation to the period of the 2021 performance year in which Edward is not serving as a Director of the Company, he will be eligible to receive a pro-rata bonus under the company’s discretionary annual bonus scheme in line with all other non-Board employees.
Edward will remain an employee of the Jupiter Group, therefore his existing share awards will continue to vest in line with their original award terms, including, where applicable, performance conditions testing, post vesting holding periods, and malus and clawback.