Report of The Board in relation to remuneration policy and practice
9. Remuneration policy for Non-executive Directors
Remuneration for Non-executive Directors consists solely of fees. There are no short term incentive plans or long term incentive plans or benefits (car or cash in lieu, pension, paid leave, healthcare) for Non-executive Directors.
The current base Board membership fee for each Non-executive Director after the most recent review, effective from 1 May 2007, is £66,000. In addition, fees are paid for services on committees and for directorships of subsidiaries and joint ventures.
Fees are set based on comparisons with other non-executive director fees and time commitments in comparable companies.