38 | GOVERNANCE | Directors’ Remuneration Report


Statement on Executive Directors’ service contracts and Non-executive Directors’ letters of appointment Messrs Grisay and Logan have current service contracts with the Company that are for a rolling period of one year, details of which are summarised below. No employee of the Group has a service contract that cannot be brought to an end within one year.


Executive Directors Alain Grisay David Logan


Date of contract 11 Oct 2004 31 July 2006


Notice period Twelve months Twelve months


Unexpired term six months


rolling twelve months Chairman and


Non-executive Directors Edward Bramson* Keith Bedell-Pearce Ian Brindle* Keith Jones* Jeff Medlock


Derham O’Neill* Keith Percy*


Kieran Poynter * Appointed during 2011.


Statement on Directors’ Remuneration (audited) The remuneration of the Executive Chairman and the other Directors who held office during the year ended 31 December 2011 is set out in the table below:


Salary


and fees 2011 £000


Executive Directors Alain Grisay David Logan


350 275


Executive Chairman and Non-executive Directors Edward Bramson (Executive Chairman)(1) Nick MacAndrew(2) Keith Bedell-Pearce* Ian Brindle(1) Keith Jones(3)


Brian Larcombe(2) Jeff Medlock


Derham O’Neill(1) Keith Percy(3)


Gerrhard Roggemann(4) Kieran Poynter*


Total


Appointed to the Board in February 2011 2 Removed from the Board in February 2011 3 Appointed to the Board in November 2011 4 Retired from the Board in May 2011


Benefits and


Bonus allowances 2011 £000


800 11


Total 2011


(excluding pension


2011 contribution) £000


£000 1,161 3002 577


136 –– 136 14 –– 14 114 –– 114 36 –– 36 4 –– 7 ––


55 –– 55 51 –– 51 4 ––


1,164 1,100


* Appointed as a member of the TRC Advisory Councils on 1 September 2010. 1


13 2,277


Total 2010


(excluding


contribution) £000


1,147 585


–


150 95 –


4 7


4


21 –– 21 97 –– 97


Pension


pension Contributions 2011 £000


22 40


– – – –


– –


– –


Total 2011 £000


1,183 617


136 14


114 36


55 51


21 97


Total 2010 £000


1,168 623


–


150 95 –


– –4 – 73 –7 73 40 –


62 57


2,209


40 –


– –4 – 62 57


62 2,339 2,268


Date of contract 3 February 2011 7 May 2009


3 February 2011


24 November 2011 13 May 2008


3 February 2011


23 November 2011 4 May 2010


Notice period One month One month One month One month One month One month One month One month


Provisions for compensation payable by the Company on early termination £000


361 277


Provisions for compensation payable by the Company on early termination £000


Nil Nil Nil Nil Nil Nil Nil Nil


Edward Bramson’s fees are paid to Sherborne. No other sums were paid to third parties in respect of any Director’s services.


The Company received £nil (2010: £nil) in fees payable to Executive Directors in respect of any external directorships held. No Executive Director receives any fees in respect of external appointments.


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