Remuneration Committee

Members
Anthony Scutt
Mark Steed

The Remuneration Committee is chaired by Anthony Scutt with Mark Steed as a member. The Remuneration Committee is responsible for reviewing the performance of the executive Directors and will set their remuneration, determine the payment of bonuses to them and consider the introduction and operation of bonus, option and pension schemes. Executive remuneration packages are designed to attract, motivate and retain Directors of the necessary calibre and to reward them for enhancing value to shareholders. The performance measurement of the Executive Director and key members of senior management and the determination of their annual remuneration package is undertaken by the Remuneration Committee. The remuneration of Non-executive Directors is determined by the Board within limits set in the Articles of Association. Executive Directors are entitled to accept appointments outside the Company providing the Board’s permission is sought.

The Non-executive Directors have specific terms of engagement. Their remuneration is determined by the Board. In the event that a Non-executive undertakes additional assignments for the Company, the Non-executive’s fee will be agreed by the Company in respect of each assignment. The Directors have contracts with an indefinite term and a stated termination notice period. The Executive Directors will not take part in discussions concerning their remuneration. The Remuneration Committee meets as and when circumstances require.

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