Vodafone 2015 Annual Report Download - page 93
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2016 remuneration for the Chairman and Non-Executive Directors
For the 2016 review, the fees for our Chairman and non-executives have been benchmarked against a comparator group of the FTSE 30 companies
(excluding Financial Services). Following the review there will be no increases to the fees of our Chairman or Non-Executive Directors.
Position/role
Fee payable £’000
From 1 April 2015
Chairman1625
Senior Independent Director 135
Non-Executive Director 115
Additional fee for Chairmanship of Audit, Remuneration and Risk Committees 25
Note:
1 The Chairman’s fee also includes the fee for the Chairmanship of the Nominations and Governance Committee.
For 2016, the allowance payable each time a non-Europe-based Non-Executive Director is required to travel to attend Board and Committee
meetings to reect the additional time commitment involved is £6,000.
Further remuneration information
Dilution
All awards are made under plans that incorporate dilution limits as set out in the guidelines for share incentive schemes published by the Investment
Association. The current estimated dilution from subsisting executive awards is approximately 3.0% of the Company’s share capital at 31 March 2015
(3.2% at 31 March 2014), whilst from all-employee share awards it is approximately 0.5% (0.6% at 31 March 2014). This gives a total dilution of 3.5%
(3.8%at 31 March 2014).
Service contracts
The terms and conditions of appointment of our Directors are available for inspection at the Company’s registered ofce during normal business
hours and at the annual general meeting (for 15 minutes prior to the meeting and during the meeting). The Executive Directors have notice periods
in their service contracts of 12 months. The Non-Executive Directors’ letters of appointment do not contain provision for notice periods or for
compensation if their appointments are terminated.
This report on remuneration has been approved by the Board of Directors and signed on its behalf by:
Luc Vandevelde
Chairman of the Remuneration Committee
19 May 2015
Overview Strategy review Performance Governance Financials Additional information Vodafone Group Plc
Annual Report 2015
91