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Lloyds Banking Group Plc said Chief Executive Antonio Horta Osorio will receive a 1.49 million-pound bonus.

The award will be made in stock and won’t vest until 2018, the London-based lender said in a statement today. He won’t recevive the money until the shares rise above 73.6 pence a share or the government has sold a third of its stake for more than the price it paid.

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