The remuneration committee will be responsible for determining and agreeing with the Board the framework for the remuneration of the executive Directors and other designated senior executives and, within the terms of the agreed framework, determining the total individual remuneration packages of such persons including, where appropriate, bonuses, incentive payments and share options or other share awards. The remuneration of Non-Executive Directors will be a matter for the chairman and the executive members of the Board. No Director will be involved in any decision as to his or her own remuneration.
The remuneration committee will initially comprise Charmaine Eggberry, Chris Batterham and Ken Lever and will be chaired by Charmaine Eggberry. The remuneration committee will meet at least twice a year and otherwise as required.