Report 2010 - Italcementi Group

2010 Annual Report
Presentation 6
Consolidated Annual Report 28
Corporate Governance Report on Corporate Governance and ownership structure 168
Annexes 218
objectives assigned, the assignee will maintain 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, should the rights in question vest after termination of the employment
relationship;
c) the death of the beneficiary after the end of the performance monitoring period or after the assigned
objectives have been achieved, the rights to participate in the long-term monetary incentives plan linked
to the appreciation of the share price granted to the assignee under the plan that may have vested will
be assigned to the assignee’s heirs subject to presentation of documentation certifying their status.
During the assignment cycle, should the assignee be transferred between the company to its Italian and
foreign subsidiaries or the parent company or between the subsidiaries and the parent company, regardless
of the manner in which the transfer takes place, or should the assignee’s organizational position be
changed with a subsequent change in their responsibilities, the performance objectives will be updated in
line with the new responsibilities.
The Chief Executive Officer shall in any case have the right to determine an equitable amount to be paid to
the assignee in relation to the work carried out.
For each three year cycle a maximum of 223,000 plan participation rights may be assigned.
f) Other powers granted to the Board of Directors
The Chief Executive Officer may temporarily suspend the effects arising from vesting of the plan
participation rights in the case of specific requirements, for example but not limited to, amendments to the
laws and regulations, excluding fiscal laws and regulations, applicable to the legal connection arising from
the plan
The effects arising from the vesting of the plan participation rights will also be suspended whenever
particular circumstances arise, for example but not limited to, mergers/demergers affecting the company’s
share capital, increases/decreases in the company’s share capital, changes to the by-laws affecting shares
such as to influence the conditions governing the application of the plan, which may alter its economic and
financial pre-requisites and prejudice its aims.
In any case the assignees will receive advance notice of the suspension.
g) Support for the plan from the special fund to foster employee participation, as per art. 4,
paragraph 112, of Law no. 350 of December 24, 2003
Not envisaged.
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