John Lewis Partnership plc annual report and accounts 2013

Remuneration Report continued

Contractual notice periods

Contracts of employment for the Chairman and the executive directors provide for a notice period of between six months and one year. Contracts for all other directors provide for between three and six months’ notice. No contract contains a provision regarding early termination compensation.

Effectiveness and evaluation

 As a result of its work during the year, the Committee has concluded that it has acted in accordance with its terms of reference. As already noted in the Governance Report, the Committee proposes to undertake a detailed review during 2013/14 of its terms of reference as part of the Committee evaluation process and any recommended changes will be considered by the Committee and referred to the Partnership Board for approval.

On behalf of the Remuneration Committee

David Barclay

 Deputy Chairman, Non-Executive Director and Chairman of the Remuneration Committee

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