Directors' remuneration report (continued)
Directors' remuneration
table
| |
Salaries/
fees
|
Bonuses
|
Benefits
|
Total
emoluments
excluding pensions
|
|
2004
£'000
|
2004
£'000
|
2004
£'000
|
2004
£'000
|
2003
£'000
|
 |
| Executive |
|
|
|
|
|
|
| Geoff Gaywood |
376 |
– |
19 |
395 |
404 |
|
| Brian Taylorson |
233 |
– |
17 |
250 |
245 |
|
| Philip Brown |
176 |
– |
13 |
189 |
192 |
|
| Non-executive |
|
|
|
|
|
|
| Keith Hopkins (Chairman)1 |
50 |
– |
– |
50 |
– |
|
| Michael Hartnall |
43 |
– |
– |
43 |
23 |
|
| Edward Wilson |
34 |
– |
– |
34 |
20 |
|
| Jonathan Fry2 |
115 |
– |
– |
115 |
150 |
|
| Richard McNeel |
– |
– |
– |
– |
20 |
|
| |
1,027 |
– |
49 |
1,076 |
1,054 |
|
Notes:
1 Keith Hopkins was appointed as a director on
1 August 2004.
2 Jonathan Fry resigned as a director on 7 October
2004. These are shown in the Directors' retirement benefits
table.
3 Emoluments for Geoff Gaywood and Brian Taylorson
exclude salary supplements paid as compensation for the limitation
of their pension rights to the Inland Revenue earnings cap.
These
are shown in the Directors' retirement benefits table. |
Each director receives, as part of his benefit package,
the provision of a car, life assurance and medical cover.
Service contracts
It is the Company's policy that executive directors should have service
contracts with a notice period not exceeding 12 months.
Geoff Gaywood, Brian Taylorson and Philip Brown
have service agreements with Elementis plc dated 1 October 2001,
2 April 2002 and 8 September 2000 respectively and the appointments
shall continue until terminated by either party on giving not less
than 12 months' notice to the other party.
Termination payments are not agreed in advance and are determined in accordance
with the directors' contractual rights. It is the Committee's policy
to ensure that a director's duty to mitigate his loss is taken into account
in the calculation of any termination payments.
The terms of engagement for each of the non-executive directors
are:
Name
|
Date of original
appointment
as director of the Company
|
Date of expiry
|
|
| Keith Hopkins |
1 August 2004 |
31 July 2010 |
|
| Michael Hartnall* |
11 December 1997 |
28 April 2005 |
|
| Edward Wilson |
1 July 1999 |
30 June 2008 |
|
*Michael Hartnall was appointed a non-executive director of Elementis
Holdings Limited (formerly Harrisons and Crosfield plc) on 2 February
1993. The shares in Elementis Holdings Limited were acquired by
the Company by way of a Scheme of Arrangement in 1998.
The terms of engagement of the non-executive directors are set
out in letters which provide that their appointment can be terminated
by the Company on any grounds without claim for compensation.
Directors'
remuneration report continues on the next page >
[Page 3 of 5]
|
