Tesco 2013 Annual Report Download - page 60

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56 Tesco PLC Annual Report and Financial Statements 2013
Directors’ remuneration report continued
Other information
Leaving arrangements for Executive Directors
David Potts, Andrew Higginson, and Lucy Neville-Rolfe retired from the business after 68 years of combined service. Richard Brasher and Tim Mason
left the business after 56 years of combined service. They are entitled to draw their accrued pension from the date of retirement. Accrued pensions
are calculated based on length of service since joining the Company Pension Scheme and there has been no augmentation of pension benefits.
Further details on pension benefits can be found in Table 2 (Pension) on page 60.
The liquidated damages paid to Richard Brasher and Tim Mason were determined in accordance with their contracts. Further details on these
payments can be found in Table 1 (Directors’ emoluments) on page 60. All unvested long-term incentive awards previously granted to Richard Brasher
and Tim Mason will lapse. Further details can be found in Table 3 (Share Options) on page 61 and Table 5 (Performance Share Plan) on page 63.
Outside appointments
Tesco recognises that its Executive Directors may be invited to become Non-executive Directors of other companies. Such Non-executive duties can
broaden experience and knowledge which can benefit Tesco.
Subject to approval by the Board, Executive Directors are allowed to accept Non-executive appointments, provided that these appointments are not
likely to lead to conflicts of interest, and retain the fees received. Executive Directors’ biographies which include details of any outside appointments
can be found on page 24 of this report.
Fees retained for any Non-executive Directorships held by individuals who were Executive Directors during the year are set out below.
Non-executive Directorships
Name Company in which Non-executive Directorship held Fees retained in 2012/13 £000
Andrew Higginson BSkyB plc 79
Lucy Neville-Rolfe The Carbon Trust plc
ITV plc
13
49
Non-executive Directors
Non-executive Director responsibilities
Sir Richard
Broadbent
Gareth
Bullock
Patrick
Cescau
Stuart
Chambers
Karen
Cook
Ken
Hanna
Ken
Hydon
Deanna
Oppenheimer
Jacqueline
Tammenoms
Bakker
Senior Independent Director X
Remuneration Committee
Nominations Committee
Audit Committee
Corporate Responsibility Committee
• Chairman of Committee
o Member of Committee
X Senior Independent Director
Sir Richard Broadbent became a member of the Remuneration Committee on 5 October 2012. Ken Hanna took over from Ken Hydon as Chairman
of the Audit Committee on 5 October 2012.