BOC Report and accounts 2005 - Alle jaarverslagen

78 The BOC Group plc Annual report and accounts 2005 Report on remuneration
Directors’ emoluments and compensation
2005 2004
Charged against profit in the year £’000 £’000
Salaries and benefits 3,255 3,028 4
Annual bonuses payable for the year 1,625 2,028
Share Matching Plan 655 –
Fees to non-executive directors 508 458
6,043 5,514
Company pension contributions to money purchase plans 308 283
Provision for share incentive schemes 1 875 1,011
Payments to former directors and their dependants 32 31
7,258 6,839
Year ended 30 September 2005 2004
Allowances Share Total
Basic and Bonus Matching remunera- Total
Individual remuneration
salary/fees benefits 2 payable Plan tion remuneration
£’000 £’000 £’000 £’000 £’000 £’000
Chairman
R J Margetts 251 – – – 251 225
Executive directors
J A Bevan 3 236 192 222 142 792 739 4
A E Isaac 5 721 145 606 303 1,775 1,508
J K Masters 3.6 175 323 124 62 684 –
Dr K Rajagopal 360 16 297 148 821 702
Non-executive directors
A R J Bonfield 40 – – – 40 39
G N Dawson 46 – – – 46 23
MFCMiau 40 – – – 40 39
R A McDonald 6 10 – – – 10 –
Sir Christopher O’Donnell 7 50 – – – 50 49
A C Quinn 40 – – – 40 17
Former directors
R Médori 8.9 278 356 204 – 838 1,008
J L Walsh 3.8 178 275 172 – 625 1,099 4
J M Baddeley 8 21 – – – 21 49
I J G Napier 8 10 – – – 10 17
Total 2,456 1,307 1,625 655 6,043 5,514
1. This represents the amount charged to operating profit for those elements of the various share incentive schemes relating to directors.
2. Allowances and benefits include car, fuel, medical insurance and international assignment benefits.The latter includes housing, utilities, home leave flights,
education, relocation, shipping costs, and any other assignment allowances not covered in this indicative listing.
3. Mr Masters and Mr Bevan are international assignees, and Mr Walsh was an international assignee prior to his resignation.The pay of
international assignees is managed under a tax equalisation programme funded by the company.This programme ensures that they are not
penalised financially by accepting roles of an international nature which would result in higher taxation costs than would have been the case if
they had remained in their home country, as in the case of Mr Walsh and Mr Masters, or benefit from a tax windfall as in the case of Mr Bevan.
Mr Bevan‘s basic salary/fees is set by reference to his UK notional salary of £342,000.
4. Total remuneration disclosed in the 2004 Report and Accounts did not include a correction for the tax associated with international assignments.
5. Mr Isaac was the highest paid director in 2005.
6. Mr Masters was appointed to the board on 1 March 2005 and Ms McDonald was appointed to the board on 1 July 2005.The remuneration
above is the total remuneration earned since their appointment.
7. Fees in respect of Sir Christopher O’Donnell are paid to Smith & Nephew plc.
8. Mr Médori, Mr Walsh, Ms Baddeley and Mr Napier resigned from the board on 31 May 2005, 1 March 2005, 28 February 2005
and 22 December 2004 respectively.The remuneration above is the total remuneration earned to their date of resignation.
9. The allowances and benefits of Mr Médori include a salary supplement of £84,000 (2004: £103,600) in respect of the pensions ‘earnings cap’.
10. The aggregate remuneration charged against profits for directors and members of the executive management board in the year was
£10.5 million. Remuneration of members of the executive management board other than directors is given on page 79.
11. Mr Ferguson joined BOC on 15 September 2005 and was appointed a director on 30 September 2005.As such he was not remunerated as a
director during the year.