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Legal & General

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Annual Report and Accounts 2009

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Content

Directors' report on remuneration.

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Summary

	Page	Key highlights
The Remuneration Committee’s governance and approach	Letter from the Chairman of the Remuneration Committee	Full review of bonus plans below Board level to ensure they support business strategy and do not encourage inappropriate risk. Review of implications to benefits resulting from 2009 budget.
	General governance
	Remuneration committee members and attendees
	Remuneration Committee meetings: Standard agenda items and additional discussions
Our remuneration policies	Directors’ remuneration for the financial year ended 31st December 2009
	General remuneration policy
	Remuneration policy for non-executive directors	See this page for non executive directors’ periods of appointment.
	Remuneration package for executive directors	See table of remuneration for 2009.
	Summary of key features of executive directors’ remuneration	This table explains each element of their remuneration, its purpose, our policy and how it operates. The table covers salary, bonus, share plans and pension.
	Remuneration policy for other senior executives
Share plans	Share bonus plan (SBP)
	Perfomance share plan (PSP)	This is our long term incentive plan and this section explains the performance criteria.
	All employee share schemes
	Dilution limits
	Shareholdings and benefits – Share ownership guidelines	Sets out the share ownership guidelines 200% of base salary for the CEO. 100% of salary for other executive directors.
	Directors share interests	Tables show the number of shares our directors hold under each scheme and the share movements over the year.
Pension and benefits	Benefits	We state the other benefits to which our directors are entitled in line with other employees of Legal & General.
	Pension	This section explains the pension schemes our directors are in and tables show their pension entitlement and value. We also explain what happens upon retirement.
Other information	Directors’ loans	None of our directors have any loans.
	Service contracts	We explain the terms and notice periods.
	External appointments	We give details of any external appointments our directors hold. External appointments help to broaden their experience and capability.
	Independent review	About our advisers and confirmation that they have carried out a satisfactory audit of the Remuneration Committee activities during 2009.

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