Remuneration report
Service contracts
| Date of appointment |
Unexpired term (years)1 |
Notice period (months) |
|
|---|---|---|---|
| Executive Directors | |||
| P Simpson | 24/05/2004 | 0 (2008) | 12 |
| K Walsh | 24/05/2004 | 0 (2008) | 12 |
| N Gower | 24/05/2004 | 1 (2009) | 12 |
| M Fallen | 18/01/2001 | 2 (2010) | 12 |
| P Halls | 31/12/2004 | (20/12/07)^ | N/A |
| P Renucci | 27/11/2007 | 0 (2008)2 | 12 |
| Non-Executive Directors | |||
| M Abrahams | 01/03/1999 | 2 (2010) | 12 |
| J Carrington | 08/04/2003 | 2 (2010) | 6 |
| S Christie | 01/03/1999 | (27/11/07)^ | N/A |
| G Wilson | 28/07/2005 | (04/06/07)^ | N/A |
| J Robinson | 27/10/2006 | (05/06/07)^ | N/A |
| B Halbert | 01/09/2006 | 2 (2010) | 6 |
| G Holden | 27/11/2007 | 0 (2008)2 | 6 |
^ Resigned
1 This is the balance of a notional three-year term since a Director’s last re-election
2 Appointed since last AGM
Special provisions
Apart from the Chairman, Michael Abrahams, the Non-Executive Directors’ service contracts do not include any compensation for loss of office.
Michael Abrahams’ service contract awards a sum, in that event, equal to any fees which would have been payable during the notice period, less ten per cent.
The Executive Directors’ service contracts allow for payment in lieu of notice (12 months) in the event of loss of office. Additionally, Malcolm Fallen’s contract entitles him in the event of a change of control of the Company to 12 months salary plus a sum equivalent to the notional value of all benefits in kind (including any pension rights) as would have been received during the 12-month period (based on the taxable value of the preceding year).