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Summary |
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Key highlights |
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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. |
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General governance | ||
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Remuneration committee members and attendees | ||
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Remuneration Committee meetings: Standard agenda items and additional discussions | ||
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Our remuneration policies |
Directors’ remuneration for the financial year ended 31st December 2009 |
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General remuneration policy |
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Remuneration policy for non-executive directors |
See this page for non executive directors’ periods of appointment. |
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Remuneration package for executive directors |
See table of remuneration for 2009. |
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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. |
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Remuneration policy for other senior executives | |
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Share plans |
Share bonus plan (SBP) |
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Perfomance share plan (PSP) |
This is our long term incentive plan and this section explains the performance criteria. |
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All employee share schemes |
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Dilution limits |
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Shareholdings and benefits – Share ownership guidelines |
Sets out the share ownership guidelines |
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Directors share interests |
Tables show the number of shares our directors hold under each scheme and the share movements over the year. |
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Pension and benefits |
Benefits |
We state the other benefits to which our directors are entitled in line with other employees of Legal & General. |
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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. |
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Other information |
Directors’ loans |
None of our directors have any loans. |
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Service contracts |
We explain the terms and notice periods. |
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External appointments |
We give details of any external appointments our directors hold. External appointments help to broaden their experience and capability. |
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Independent review |
About our advisers and confirmation that they have carried out a satisfactory audit of the Remuneration Committee activities during 2009. |