The silver film on the 50%% pre-stretched PDMS substrate showed much better stretching performance than that on the non-stretched PDMS surface (silver on reference PDMS).
The company "partly met the stretching performance targets" set out in 2013, she said.
Lloyds said it felt its current boardroom procedures were "thorough and appropriate" and that its pay plans had "stretching performance targets".
Lloyds said: "The extent to which Mr Horta-Osório will receive future awards will depend on the performance of Lloyds Banking Group in the short, medium and longer term against stretching performance measures, including earnings, profit and share price growth and expanding the group's SME lending portfolio".
Lloyds said the deal was "the maximum package that could potentially pay out over the next three to four years – and, importantly, will be subject to stretching performance targets which, if met, will deliver very significant benefits to the UK economy and ultimately all taxpayers".
Amyas Morse, head of the NAO, said: "The department has set providers stretching performance targets and it needs to ensure that they do not cut corners to stay in profit, such as targeting easy-to-reach people, reducing service levels or treating subcontractors unfairly".
As chief executive, Hester is entitled to a bonus of 80% of his annual salary, and could be awarded share options worth up to £2.85m in 2014, and £2.2m in subsequent years, for "the achievement of stretching performance conditions" - although they would not be available to collect until 2017.
This superb stretching performance results from the use of graphene and SWCNT network.
