BOC Report and accounts 2005 - Alle jaarverslagen

82 The BOC Group plc Annual report and accounts 2005 Report on remuneration
Long-Term Incentive Plan – movements during the year
At
1 October
2004
(or at date of
At
appointment 30 September Earliest Latest
if later) Granted Lapsed 2005 Performance period exercise date exercise date
J A Bevan 38,659 1 – – 38,659 01/10/02 – 30/09/05 06/02/06 05/02/13
56,831 – – 56,831 01/10/03 – 30/09/06 04/02/07 03/02/14
– 54,696 – 54,696 01/10/04 – 30/09/07 19/11/07 18/11/14
95,490 54,696 – 150,186
A M Ferguson 2 76,106 – – 76,106 01/10/04 – 30/09/07 15/09/08 14/09/15
76,106 – – 76,106
A E Isaac 127,867 1 – – 127,867 01/10/02 – 30/09/05 06/02/06 05/02/13
151,520 – – 151,520 01/10/03 – 30/09/06 04/02/07 03/02/14
– 153,502 – 153,502 01/10/04 – 30/09/07 19/11/07 18/11/14
279,387 153,502 – 432,889
J K Masters 3 25,060 1 – – 25,060 01/10/02 – 30/09/05 06/02/06 05/02/13
28,340 – – 28,340 01/10/03 – 30/09/06 04/02/07 03/02/14
25,069 – – 25,069 01/10/04 – 30/09/07 19/11/07 18/11/14
78,469 – – 78,469
Dr K Rajagopal 42,622 1 – – 42,622 01/10/02 – 30/09/05 06/02/06 05/02/13
59,810 – – 59,810 01/10/03 – 30/09/06 04/02/07 03/02/14
– 57,563 – 57,563 01/10/04 – 30/09/07 19/11/07 18/11/14
102,432 57,563 – 159,995
Former directors
R Médori 44,652 – (44,652) –
62,660 – (62,660) –
– 67,127 (67,127) –
107,312 67,127 (174,439) –
J L Walsh 42,622 – (42,622) –
59,810 – (59,810) –
– 57,563 (57,563) –
102,432 57,563 (159,995) –
1. The performance conditions for these awards have been met to the extent that 52.6 per cent of the shares vest on the third anniversary of the
award date.
2. Mr Ferguson was appointed to the board on 30 September 2005.
3. Mr Masters was appointed to the board on 1 March 2005.
The performance conditions attaching to the above awards are shown on pages 73 and 74.Awards take the form
of nil cost options.
Pensions
The pension arrangements for each individual director are as follows:
Mr Bevan’s pension is provided under the Australian superannuation fund. On retirement at age 60 he will be
entitled to the accumulated value of his defined contribution fund subject to that not being less than the
guaranteed lump sum of approximately six times his final 12 months’ salary.
Mr Ferguson’s pension is being funded by contributions to a tax-approved personal pension plan on earnings
up to the ‘earnings cap’ imposed by the Finance Act 1989. Mr Ferguson also receives a salary supplement on
earnings above the ‘earnings cap’ to reflect the loss of pension coverage.With effect from 5 April 2006 no further
contributions will be made by the company to Mr Ferguson’s pension plan. Instead these contributions will be paid
to him in the form of a salary supplement.
Mr Isaac’s pension is being funded in the UK through a combination of a tax-approved personal pension plan
on earnings up to the ‘earnings cap’ imposed by the Finance Act 1989, and a funded unapproved retirement benefit
scheme on earnings above the ‘earnings cap’.With effect from 5 April 2006 no further contributions will be made
by the company to Mr Isaac’s pension plans. Instead these contributions will be paid to him in the form of a salary
supplement.
Mr Masters’ pension is provided under the US Cash Balance Retirement Plan and the US Senior Executive
Retirement Plan, which, in combination, entitle Mr Masters to a lump sum benefit on retirement at age 60
equivalent to a pension of approximately 82.2 per cent of final base salary. In accordance with local competitive
practices existing in his country of operation prior to his appointment as a director, Mr Masters’ bonus is
pensionable.