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    DCC   IE0002424939

DCC PLC

(DCC)
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DCC : Rules of The DCC plc Long Term Incentive Plan 2021 (comparison of the 2021 and 2009 Plans)

06/17/2021 | 03:06am EDT

DCC PLC

RULES

of

THE DCC PLC

LONG TERM INCENTIVE PLAN 20092021

APPROVED

TO BE SUBMITTED FOR APPROVALAT THE ANNUAL GENERAL MEETING OF DCC PLC TO BEHELD ON 17

JULY 2009,

AMENDED AT THE ANNUAL GENERAL MEETING HELD ON 18 JULY 2014

AMENDED AT THE ANNUAL GENERAL MEETING HELD ON 14 JULY 2017 AND

AMENDED PLAN TO BE SUBMITTED FOR APPROVAL TO THE SHAREHOLDERS AT THE ANNUAL GENERAL

MEETING TO BE HELD ON 17 JULY 2020

16 JULY 2021

CONTENTS

RULE

PAGE NO

1

Definitions

3

2

Eligibility to participate

5

3

Grant of Awards

5

4

Limits to Awards

6

5

Transfer and renunciation of Awards

7

6

Vesting,and exercise and clawbackof Awards

7

7

Malus, clawback and retention of Shares by Executive Director Participants

8

78

Delivery of Shares and rights of Participants

9

89

Plan Shares

9

910

Cessation of employment of a Participant

9

1011

Corporate events

11

1112

Variation of share capital

1112

1213

Administration of the Plan

12

1314

Amendment of the Plan

1213

1415

Termination of the Plan

13

1516

General provisions

13

17

Data Privacy

14

1618

Governing law and jurisdiction

1314

2

RULES OF THE DCC PLC LONG TERM INCENTIVE PLAN 20092021

1 Definitions

1.1 In these Rules, unless the context otherwise requires, the following words and expressions shall bear the meanings set out below:

"Accounting Period" means any period in respect of which the Company prepares a report and audited financial statements;

"Act" means the Taxes Consolidation Act 1997 as amended from time to time;

"Adoption Date" means the date on which the Plan was adopted by the Company in general meeting;

"Announcement Date" means the date on which the Company announces its annual or half-yearly results;

"Award" means an Option or a Share Award granted by the Committee to an Eligible Employee in accordance with these Rules;

"Award Certificate" means a deed issued by the Company to an Eligible Employee in respect of the grant of an Award to him;

"Award Date" means the date specified in the Award Certificate as the Award Date;

"Board" means the Board of Directors from time to time of the Company or a duly authorised committee thereof;

"Committee" means the Remuneration Committee of the Board consisting exclusively of non-executive Directors;

"Company" means DCC plc, whose registered office is at DCC House, Leopardstown Road, Foxrock, Dublin 18, Ireland;

"Control" means the control of a company within the meaning given to that expression by Section 432 of the Act and for the purposes of Rule 1011a person shall be deemed to have control of a company if he and others acting in concert with him have together obtained control of a company within such meaning;

"Dealing Day" means a day on which transactions take place on the London Stock Exchange;

"Eligible Employee" means

  1. any employee (including an executive director) in the service of a company which is a member of the Group and whose contribution can have a direct and significant impact on Group value or who the Company wishes to retain in anticipation of adirect and significant contribution to Group value in the future; or
  2. an employee who is a member of key support staff, provided that only a small number of such employees shall be treated as Eligible Employees;

"Expiry Date" means the latest date on which an Option may be exercised specified on the Award Certificate;

3

"Group" means the Company and all of its Subsidiaries and the expression "member of the Group" shall be construed accordingly;

"Market Value" on any day means the closing quotation for a Share on the immediately preceding Dealing Day, as derived from the Daily Official List of the London Stock Exchange;

"Notice of Exercise" means the notice given by a Participant in order to exercise an Option;

"Option" means an option to acquire Shares granted under the Plan;

"Option Price" means the amount (if any) per Share payable on the exercise of an Option;

"Participant" means a person to whom a subsisting Award has been granted or, where the context permits, his legal personal representatives;

"Performance Period" means, with respect to an Award, the period over which the performance of the Company will be measured in order to determine Vesting of the Award, such period to be determined by the Committee and being the period of three Accounting Periods of the Company beginning with the Accounting Period in which the Award Date occurs or the period of three calendar years measured from the Award Date or such other date determined by the Committee or such other period determined by the Committee;

"Plan" means the DCC plc Long Term Incentive Plan 20092021constituted by these Rules as amended from time to time in accordance with Rule 1314;

"Plan Shares" means such Shares as are issued or transferred pursuant to the Plan;

"Rules" means the rules of the Plan as set forth herein or as amended from time to time and "Rule" means a rule of the Plan;

"Share Award" means a contingent right to acquire Shares granted under the Plan;

"Shares" means ordinary shares of €0.25 each in the capital of the Company (or any shares representing them);

"Subsidiary" means a company which is a subsidiary within the meaning of Section 7 of the Companies Act 2014 (as amended);

"Vest" means a Participant becoming, in accordance with and subject tothe Plan, entitled to exercise an Option or absolutely entitled to the Shares subject to a Share Award (as the case may be) and "Vested" and "Vesting" shall be construed accordingly; and

"Vesting Date" means the date on which an Award normally Vests, as stated on the Award Certificate ,or such earlier date when the Award Vests pursuant to Rule 9 or 10;10 or 11 and subject to Rule 6.6.

"Vesting Period" means the period from the Award Date to the date specified in the Award Certificate as the date on which the Award will normally Vest.

1.2 In these Rules, where the context permits or requires:

  1. the singular shall include the plural and vice versa and the masculine shall include the feminine;

4

  1. a reference to a statutory provision includes any statutory modification, amendment or re-enactment; and
  2. the contents and headings are for ease of reference only and shall not affect their interpretation.

2 Eligibility to participate

  1. The Plan is available for such Eligible Employees as shall be nominated for the purpose by the Committee.
  2. No Eligible Employee shall be entitled as of right to participate in the Plan. The decision as to who shall have the opportunity of participating and the time and extent of his participation will be made, subject to these Rules, by the Committee at its absolute discretion.

3 Grant of Awards

  1. Subject to Rule 3.4, the Committee may, in its absolute discretion, grant an Award by resolution in accordance with these Rules to any Eligible Employee.
  2. An Award shall, unless the Committee determines otherwise, be granted:
    1. in respect of a fixed number of Shares; and
    2. on the basis that the Shares in respect of which the Award is granted may, subject to Rules 910and 1011, Vest on a date specified by the Committee which shall be no earlier than the fifththirdanniversary of the Award Date.
  3. The grant of an Award shall be evidenced by an Award Certificate executed by the Company as a deed and sent by the Company to the Participant. The Award Certificate shall specify:
    1. whether the Award comprises an Option or a Share Award;
    2. the number of Shares subject to the Award or the formula by which such number may be determined, if relevant;
    3. the Award Date;
    4. the date when the Award will normally Vest (being 24 months followinga date afterthe end of the Performance Period and no earlier than three years after the Award Date);
    5. the Option Price and Expiry Date, if the Award is an Option;
    6. anytheconditions which have to be satisfied to determine the extent of Vesting of the Award; and
    7. any retention conditions imposed pursuant to Rule 7.4; and
    8. (g)that the Award is subject to the Rules.
  4. The Committee may grant an Award under the Plan within the period of 42 days following the Adoption Date and thereafter only:

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

DCC plc published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 07:05:01 UTC.


ę Publicnow 2021
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