©2007 Baker & McKenzie 32 UK Approved Options – Good Leaver Tax free exercise if good leaver (even if not 3 years from grant date) when exercise occurs within 6 months of termination of employment due to: –Injury –Disability –Redundancy –Retirement after an age specified in the plan which is 55 or greater –Death (if exercised by personal representative within 12 months of death) Can build in pass through of employer NICs if employee exercises early and not as good leaver
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