The remuneration of the Non Executive Directors is a matter for the Chairman and Executive Directors and the remuneration of the Chairman is a
matter for the Committee. Fees for both Non Executive Directors and the Chairman are reviewed from time to time with regard to time commitment
required and the level of fees paid by comparable companies.
Current annual fee levels for the Non Executive Directors are as follows:
2013 2012
Non Executive Director £ £
Helen Buck 40,000 40,000
Adrian Gill1 40,000 40,000
Paul Latham2 – 37,000
Roger Matthews 100,000 100,000
Governance
Directors’ Report and Business Review
Mark Morris3 47,000 45,000
Mark Pain4 45,000 43,000
1
Adrian Gill joined the Board on 10th September 2012. Adrian Gill has also received £5,889 consultancy fee in respect of services provided to LSL Estate Agency Division.
2
Paul Latham retired from the Board on 1st October 2012. During 2012, Paul Latham was also paid an additional £5,000 per annum consultancy fee in respect of services provided
to e.surv Chartered Surveyors.
3
Mark Morris’ fee includes additional sums for his role as Senior Independent Non Executive Director (£2,000) and Chair of the Audit Committee (£5,000).
4
Mark Pain’s fee includes an additional sum for his role as Chair of the Remuneration Committee (£5,000).
iMPLEMEntAtion REPoRt
AuDitED inFoRMAtion
Directors’ Remuneration
The Remuneration of the Directors for 2012 was as follows:
Directors’ Car Benefits in Annual total Total
salaries/fees allowance kind1 bonus 2012 2011
Director £ £ £ £ £ £
chairman
Roger Matthews 100,000 – – – 100,000 100,000
Executive Directors
Steve Cooke 220,000 10,000 1,635 132,000 363,635 253,683
Simon Embley 250,000 10,000 15,969 150,000 425,969 296,247
David Newnes 140,000 8,500 606 104,000 253,106 163,123
Alison Traversoni2 140,000 – 11,042 56,000 207,042 176,044
non Executive Directors
Helen Buck 40,000 – – – 40,000 3,333
Adrian Gill3 18,196 – – – 18,196 –
Paul Latham4 27,750 – – – 27,750 42,000
Mark Morris 45,000 – – – 45,000 45,000
Mark Pain 43,000 – – – 43,000 43,000
totAL 1,023,946 28,500 29,252 442,000 1,523,698 1,122,430
1
Benefits in kind, which excludes pension provision, are comprised of private medical cover and company car and in respect of Simon Embley, a taxable relocation allowance of £15,000.
2
Retired from the Board on 31st December 2012.
3
Appointed to the Board on 10th September 2012. Fee includes £5,889 paid in respect of consultancy services to the Estate Agency Division.
4
Retired from the Board on 1st October 2012. Fee includes £5,000 paid in respect of consultancy services to e.surv Chartered Surveyors.
The bonus payments for 2012 are based on achievement of profit targets that were set by the Remuneration Committee at the beginning of 2012. In
addition, strategic key performance indicator targets were set for each business unit within LSL’s Divisions and an element of the bonus is related to
achievement of these targets. No discretionary awards have been proposed for 2013 and save for a discretionary award of £20,000 payable to David
Newnes which reflects the strong performance of the Estate Agency Division in 2012, no discretionary awards have been granted in 2012.
No termination payments or payments in lieu of notice were paid to those Directors who retired from the Board during 2012.
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