The exceptional performance incentive plan would have granted free share options to senior executives based on the company's performance.

BBC: Faroe Petroleum logo

Determining the optimal incentive plan design will not only help improve performance, it will promote ethical behavior that is in the best interest of the company and shareholders.

FORBES: Creating Incentive Plans That Actually Incent Employees

He could still be entitled to his long-term incentive plan, which is broadly based on the bank's long-term performance and is worth up to 400% of his salary, if the Barclays remuneration committee awards him one.

WSJ: Barclays CEO Gives Up Bonus for 2012