Marks and Spencer 2005 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2005 Marks and Spencer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 64

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

20 MARKS AND SPENCER GROUP PLC
Remuneration report continued
The Company retains the right to terminate the contract of any director summarily in accordance with the terms of their service agreement,
on payment of a sum equivalent to the contractual notice entitlement of 12 months’ salary and benefits. In the case of service agreements
concluded from 1 April 2004, any such payments will be subject to mitigation and paid in monthly instalments. However, entitlement to
participate in future awards under the Company’s share schemes ceases on summary termination.
Executive directors
All executive directors have rolling service contracts, which can be terminated by the Company giving 12 months’ notice and by the
director giving six months’ notice.
Non-executive directors
The Chairman has a service agreement with the Company which, at his request, requires no notice of termination from the Company, but
requires him to give six months’ notice should he wish to terminate the agreement.
The non-executive directors have service agreements with the Company for an initial three-year term, which are terminable on three
months’ notice.
Name Date of appointment Notice period/unexpired term
Anthony Habgood 15 July 2004 3 mths/3 mths
Steven Holliday 15 July 2004 3 mths/3 mths
Jack Keenan 1 September 2001 3 mths/3 mths
Kevin Lomax 1 September 2000 3 mths/3 mths
Performance graph
This graph illustrates the performance of the Company against the FTSE 100 over the past five years. The FTSE 100 has been chosen as
it is a recognised broad equity market index of which the Company has been a member throughout the period. Performance, as required
by the legislation, is measured by TSR (share price growth plus dividends paid).
Total Shareholder Return
Marks & Spencer Group FTSE 100 Index Source: Datastream
1 Apr 00 31 Mar 01 30 Mar 02 29 Mar 03 3 Apr 04 2 Apr 05
The above graph looks at the value, at 2 April 2005, of £100 invested in Marks & Spencer Group on 1 April 2000 compared with the value of £100 invested in the
FTSE 100 Index over the same period. The other points plotted are the values at the intervening financial period-ends.
0
20
40
60
80
100
120
140
160
180