GSK » Topics » Objective

This excerpt taken from the GSK 20-F filed Feb 29, 2008.
Objective

GSK currently offers employees of particular grades eligibility to participate in the following Long Term Incentive Plans (LTIP’s):

  Share Options, with a 10 year lifespan;
     
  Performance Share Plan (PSP), with a three (3) year lifespan;
     
  Share Value Plan (SVP), with a three (3) year lifespan.

Each has a different set of Plan rules which, in turn, may be treated differently across the country tax jurisdictions in which eligible employees work.

When an eligible employee transfers to a country to work outside of his/her home country, he/she may be subject to taxation in the host country. He/she may still be subject to taxation in the home country or, additionally, subject to taxation in another country in which he/she has worked during the life span of the LTIP.

As a result of multiple tax jurisdictions an employee may have a tax burden which is greater or lower than it would have been had he/she continued to work in the home country.

Because of this potential inequity, GSK has developed a tax equalisation/protection policy (Tax Policy).

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