3
Bonus matrix for evaluated period of FY 2022/2023
Valid for bonus positions: WL3 Store Managers, Area Managers, Country Hyper and Convenience
Format Managers, Head of Channels, Head of Regional Operations
The matrix shows the information and criteria used for calculation of the final bonus amount.
Colleagues will be eligible for the bonus based on the number of active days of service in the bonus position.
Colleagues who joined TESCO on or after December 1st of the evaluated period, are not eligible for the bonus.
For the purpose of this policy, the bonus year has 364 calendar days.
The actual bonus value is communicated after the financial results have been closed - usually during the
month of May.
The calculation and payment of the international bonus is governed by the valid CE International Bonus Policy.
3. Maximum bonus percentage and payout criteria
Maximum bonus percentage is set at:
WL Cash Shares
Maximum bonus
opportunity from
eligible earnings
WL3
2/3 of the
bonus
1/3 of the bonus (no deferral - shares will be
released immediately on the award date)
WL3 - 45%
* Bonus share awards will only be made where the value of the share element is greater than 500 GBP (or local
currency equivalent), otherwise the award will be paid 100% in cash.
The pay-out bonus percentage is determined based on the level of achievement of the following criteria:
Criterion Level of achievement % of bonus*
4. Country Sales
(30 % of total bonus)
Stretch 30%
Target 15%
Threshold 7,5%
* The % of bonus opportunity that will be delivered for achievement between 'Threshold' and 'Target', and 'Target'
and 'Stretch', will be calculated on a straight-line basis.
Criterion Level of achievement % of bonus*
5. Country profit
(50 % of total bonus)
Stretch 50%
Target 25%
Threshold 12,5%
* The % of bonus opportunity that will be delivered for achievement between 'Threshold' and 'Target', and 'Target'
and 'Stretch', will be calculated on a straight-line basis.