Britannic ties in key personnel with additional incentive deal

Britannic Asset Management (BAM) has tied in its key personnel with a salary related incentive deal aimed at preventing departures in the event of a takeover or merger. The asset management house is to pay senior staff an additional bonus worth 50% of salary, if they are still with the company on 31 March 2003. This is in addition to a long-term incentive plan, which was put in place in early 2000. Britannic's fund management personnel are also eligible for performance related bonuses, payable each year. Under the long term incentive plan which put in place 'quasi' equity options, ...