JRVS Jarvis

RNS Number:0116V
Jarvis PLC
01 December 2005

Jarvis plc reports that, following the announcement of interim results on 30th
November the Remuneration Committee of Jarvis plc met to approve the grant of
options under the Management Incentive Plan  ("Plan") approved by shareholders
on 19 October 2005.  The grant price for options awarded under the plan has been
set on the basis of the Volume Weighted Average Share Price for the twenty
dealing days prior to the grant at 86.7345 pence per share.



The following Executive Directors and Persons Discharging Managerial
Responsibility have been awarded options over ordinary shares in the Company
under the Plan:



Directors



Richard Entwistle                                   1,000,000

Alan Lovell                                           450,000

Alasdair Marnoch                                      300,000

Steven Norris                                         275,000



Persons Discharging Managerial Responsibility



Michael Houghton                                     225,000

Kjell Karlsen                                        225,000

Andrew Martin                                        225,000

Patrick McHale                                       225,000

Adrian O'Shea                                        225,000

Bernard Westbrook                                    225,000



The options are exercisable in three tranches on achievement of share price
performance targets, with the target being achieved on the improvement of the
share price by 25%,50% and 75% respectively over the grant price with the
improvement being maintained for a period of ten consecutive dealing days within
a three year period from the date of grant.



Alastair Marnoch and Alan Lovell have indicated that they will be leaving the
company in the coming year. The Board has decided that save in the case of a
takeover or winding up of the Company the period in which any unvested element
of their awards may vest shall end on the third anniversary of the date of grant
and not their date of cessation of employment. However, any unvested element of
their award at their date of cessation of employment  will be reduced by
two-thirds leaving only one third of their remaining award capable of vesting
(subject to the achievement of the performance conditions)



In a development to corporate governance the Remuneration Committee have
recommended that the Company Secretary, Head of Internal Audit and Head of
Safety be excluded from participation in the Plan as part of their independent
monitoring role on behalf of the non  executive directors.










                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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