BT 1999 Annual Report Download - page 56

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55
Directors’ service agreements and contracts of appointment
The dates on which the Chairman’s and each current executive directors’ initial service agreement commenced and the current
expiry dates are as follows:
Chairman and Commencement date of initial Expiry date of current
executive directors service agreement service agreement
0000051111!!!00000!!!00000
Sir Iain Vallance 6 August 1984 31 July 2000(a)
Sir Peter Bonfield 1 January 1996 31 December 1999(b)
R P Brace 1 October 1993 (c)
B Cockburn 1 April 1998 30 September 1999(d)
0000051111!!!00000!!!00000
(a) Sir lain Vallance entered into a new agreement when he became part-time Chairman on 1 August 1998. To ensure Sir lain’s
contribution to BT for a reasonable period after he took up his part-time role, this agreement is for an initial fixed two-year term.
(b) The initial term of Sir Peter Bonfield’s agreement was extended in the year ended 31 March 1998. After 31 December 1999 the
agreement can be terminated by either the company or Sir Peter on 12 months’ notice.
(c) Terminable on 12 months’ notice by either the company or Robert Brace.
(d) Terminable after 30 September 1999 on 12 months’ notice by either the company or Bill Cockburn.
The dates on which current non-executive directors’ contracts of appointment commenced and the current expiry dates are
as follows:
Commencement date of Expiry date of
Non-executive director initial contract current contract
0000051111!!!00000!!!00000
Lord Marshall 1 April 1995 31 March 2001
H Alexander 1 June 1998 31 May 2001
J I W Anderson 1 November 1995 (a)
N Isdell 1 July 1998 30 June 2001
J K Oates 1 June 1994 (a)
Sir John Weston 1 October 1998 30 September 2001
0000051111!!!00000!!!00000
(a) Terminable on 12 months’ notice by either the company or the director or on one month’s notice effective on the sixth
anniversary of initial appointment.
There are no other service agreements or material contracts, existing or proposed, between the company and the directors. There
are no arrangements or understandings between any director or executive officer and any other person pursuant to which any
director or executive officer was selected to serve. There are no family relationships between the directors.
By order of the Board
Lord Marshall of Knightsbridge
Deputy Chairman and Chairman of Remuneration Committee
25 MAY 1999
REPORT ON DIRECTORS’ REMUNERATION