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long-term incentive scheme

    (in LR) any arrangement (other than a retirement benefit plan, a deferred bonus or any other arrangement that is an element of an executive director's remuneration package) which may involve the receipt of any asset (including cash or any security94) by a director or employee of the group:

      1. (a) which includes one or more conditions in respect of service and/or performance to be satisfied over more than one financial year; and
      1. (b) pursuant to which the group may incur (other than in relation to the establishment and administration of the arrangement) either cost or a liability, whether actual or contingent.14