Report 2010 - Italcementi Group

iii) approving for each assignee the individual targets for each cycle, failure to realize which will cause
termination of rights to participate in the long-term monetary incentives plan linked to the appreciation of
the share price granted to the assignee as part of the cycle, with consequent loss of the right to receive
the cash bonus connected to the rights;
iv) confirming the level of achievement of targets by each assignee;
v) determining the start date of the period of availability.
The plan is administered by the company’s Human Resources and Organizational Development Division. in
compliance with the Regulation.
c) Plan recipients
Plan recipients are managers of the company identified by the Chief Executive Officer, to whom rights are
granted to participate in the long-term monetary incentives plan linked to the appreciation of the share price.
d) Term and restrictions on availability of shares and granted rights
The plan has a term of three three-year cycles from 2008 to 2016.
The end of the plan is set at the end of 2017 (the first year following the end of the last three-year cycle).
The Chief Executive Officer will set, under the plan, the number of rights to be granted to each of the
assignees on the basis of an overall assessment which, after taking into account the general performance
of the company as an essential prerequisite and the strategic and organizational position of each assignee’s
role for the purposes of achieving the company’s strategic objectives, will consider:
i) the company performance in the period,
ii) the position of the assignee within the organizational structure
iii) consistency with the total rewarding principles on which the Group’s remuneration policy is based.
The vesting of the rights assigned to each beneficiary is subordinate to the achievement of objectives tied to
the financial and operational results and to other individual objectives attributed specifically to the
beneficiary.
The Chief Executive Officer, with the support of the Human Resources and Organizational Development
Division, will be responsible for checking and assessing, during the cycle, the level of achievement of the
objectives, and consequently for determining the total rights to participate in the plan as previously assigned
to each beneficiary.
e) Procedures for determining the value of rights and plan conditions
The plan envisages the offer to assignees, free of charge, of rights to participate in the plan which, once
vested in line with the requirements and conditions of the Regulation, will allow assignees to receive
payment of a cash bonus equal to the value of the shares, determined on the basis of the mean official
share price on the market managed by Borsa Italiana in the thirty calendar days preceding the payment
date.
The participation rights are nominative and non-transferable.
In the event of:
a) termination of the employment relationship due to dismissal or resignation once the performance
monitoring period is over but before the start of the period of availability, the general principle will be
applied and therefore the assignee will definitively and automatically lose the right to receive the cash
bonus connected to the participation rights in the long-term monetary incentives plan linked to the
appreciation of the share price assigned but not yet vested;
b) consensual termination of the employment relationship, resignation upon retirement, or due to invalidity,
after completion of the performance monitoring period, or when the assignee has achieved the
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