Holiday Inn 2009 Annual Report Download - page 56

54 IHG Annual Report and Financial Statements 2009
Remuneration report continued
From this point forward, the information provided has been audited by Ernst & Young LLP.
12 Audited information on Directors’ emoluments
Directors’ remuneration in 2009
The following table sets out the remuneration paid or payable to the Directors in respect of the year to 31 December 2009.
Total emoluments
Base salaries and fees Performance payments1Benefits2excluding pensions
2009 2008 2009 2008 2009 2008 2009 2008
£000 £000 £000 £000 £000 £000 £000 £000
Executive Directors
Andrew Cosslett3802 787 –495 25 25 827 1,307
Stevan Porter4–503 –593 –5–1,101
Richard Solomons3512 561 –401 19 18 531 980
Non-Executive Directors
David Webster 390 390 –––2390 392
David Kappler 95 95 ––––95 95
Ralph Kugler580 72 ––––80 72
Jennifer Laing668 60 ––––68 60
Robert C Larson7–60 –––––60
Jonathan Linen 60 60 ––––60 60
Sir David Prosser8–33 –––––33
Ying Yeh 60 60 ––––60 60
Former Directors9––––1111
Total 2,067 2,681 –1,489 45 51 2,112 4,221
1 Performance payments comprise cash payments in respect of
participation in the ABP but exclude bonus payments in deferred shares,
details of which are set out in the ABP table on page 55.
2 Benefits incorporate all tax assessable benefits arising from the
individual’s employment. For Messrs Cosslett and Solomons, this relates
in the main to the provision of a fully expensed company car and private
healthcare cover.
3 2008 salaries for Andrew Cosslett and Richard Solomons reflect a salary
increase effective 1 April 2008. They did not receive an increase in 2009.
Richard Solomons also received a pro rata salary supplement of £10,000
per month from 1 July 2008 to 7 January 2009, reflecting his additional
duties as interim President of the Americas region.
4 Stevan Porter passed away on 7 August 2008.
5 Ralph Kugler’s fee was increased, pro rata, from 1 June 2008 when
he became Chairman of the Remuneration Committee.
6 Jennifer Laing’s fee was increased, pro rata, from 1 March 2009 when
she became Chairman of the Corporate Responsibility Committee.
7 Robert Larson retired as a Director on 31 December 2008.
8 Sir David Prosser retired as a Director and Chairman of the Remuneration
Committee on 31 May 2008.
9 Sir Ian Prosser retired as a Director on 31 December 2003. However,
he had an ongoing healthcare benefit of £1,150 during the year.
Directors’ pension benefits
The following information relates to the pension arrangements provided for Messrs Cosslett and Solomons under the executive section
of the InterContinental Hotels UK Pension Plan (the IC Plan) and the unfunded InterContinental Executive Top-Up Scheme (ICETUS).
The executive section of the IC Plan is a funded, registered, final salary, occupational pension scheme. The main features applicable
to the Executive Directors are:
• a normal pension age of 60;
• pension accrual of 1⁄30th of final pensionable salary for each year of pensionable service;
• life assurance cover of four times pensionable salary;
• pensions payable in the event of ill health; and
• spouses’, partners’ and dependants’ pensions on death.
When benefits would otherwise exceed a member’s lifetime allowance under the post-April 2006 pensions regime, these benefits
are limited in the IC Plan, but the balance is provided instead by ICETUS.