Remuneration Committee Adviser

We were appointed by the Remuneration Committee to advise on directors’ and senior executives’ remuneration. This encompasses:

attend meetings of the Remuneration Committee and take the minutes of meetings and, after checking with the Chairman, make them available to all authorised recipients.
prior to each Committee meeting, attend a meeting with the Remuneration Committee Chairman to agree the agenda items and to ensure that there is a clear understanding of the key issues in relation to each agenda item.
ensure, in advance of each meeting, that the Committee has the relevant internal papers for all agenda items plus properly edited comparator reports, and summaries of any relevant legal and regulatory requirements.
between meetings, bring to members’ notice any changes in regulations that affect the Committee’s work. We edit the mass of potential paper in this area appropriate to their HR department but not the Remuneration Committee.
be available for advice or consultation by phone, fax or e-mail for all members of the Committee.
with the agreement of the Chairman, help to communicate to executive management any changes to executive remuneration policy and practice.

As part of this ongoing assignment we have reviewed the long term incentive arrangements and gained shareholder approval of innovative new plans. We are currently reviewing annual incentives to improve their linkage to key strategic objectives.

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MM & K Limited is authorised
and regulated by the
Financial Services Authority