41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 147
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
OTHER INFORMATION
Non-Executive Director remuneration
Subject to annual re-election by shareholders, Non-Executive Directors are appointed for an initial term of approximately
three years. Subsequent terms of three years may be awarded. The appointment, re-appointment and the remuneration of
Non-Executive Directors are matters reserved for the full Board.
The Non-Executive Directors are not eligible to participate in the Company’s performance-related bonus plan, long-term
incentive plans or pension arrangements.
Details of the policy on fees paid to our Non-Executive Directors are set out in the table below:
NED
Date of service contract
E McMeikan
13 November 2013
R Paterson
21 September 2017
I Beato
20 July 2018
S Pearce
14 October 2019
T Jackson
29 November 2019
S Smith
14 October 2019
R Huntingford
26 October 2020
N Dulieu
5 August 2022
Function
Operation
Opportunity
Fees
Fee levels are reviewed
annually, with any
adjustments typically
effective 1 January in the
year following review.
None
Non-Executive Director fee
increases are applied in line
with the outcome of the
annual fee review. Fees for the
year commencing 1 January
2023 are set out in the Annual
Report on Remuneration.
To attract and retain NonExecutive Directors of the
highest calibre with broad
commercial and other
experience relevant to
the Company.
The fees paid to the Chair are
determined by the Committee,
whilst the fees of the NonIt is expected that increases
Executive Directors are
to Non-Executive Director
determined by the Board.
fee levels will be in line with
salaried employees over the
Additional fees are payable for
life of the policy. However,
acting as Senior Independent
in the event that there is a
Director and as Chair of any
material misalignment with
of the Board’s Committees
the market or a change in the
(Audit & Risk, Remuneration,
complexity, responsibility or
Nomination, Health & Safety,
time commitment required to
Sustainability).
fulfil a Non-Executive Director
Fee levels are benchmarked
role, the Board has discretion
against sector comparators
to make an appropriate
and FTSE-listed companies of
adjustment to the fee level.
similar size and complexity.
Time commitment and
responsibility are taken
into account when reviewing
fee levels.
Expenses incurred by
the Chair and the NonExecutive Directors in the
performance of their duties
(including taxable travel and
accommodation benefits)
may be reimbursed or paid
for directly by the Company,
as appropriate.
Performance metrics
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