Long Term Incentive Plans
The Undertakings require BT "as soon as is reasonably practicable” to introduce new long term incentive plans for relevant BT employees working for Openreach (and for some BT people in BT Wholesale).
The obligation is to ensure that such awards are based on the delivery of Openreach (or, in the case of BT Wholesale, Core Network Services), rather than BT Group objectives and that the awards are not denominated in terms of BT shares or based on BT share price performance. The purpose is to make sure that incentives and rewards are aligned with Openreach’s or Core Network Services’ objectives under the Undertakings.
New long term incentive plans based on these principles have been developed and approved by the BT Group Remuneration Committee. They are now being implemented in Openreach, and will be implemented in the appropriate parts of BT Wholesale when required.