Barclays 2004 Annual Report Download - page 33

Barclays PLC Annual Report 2004
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2004 Annual Remuneration(a)(n)
Executive Share
Pay in Annual Award Scheme
ESAS(c)
Salary lieu of cash 2004 2003
and fees notice Benefits(b)(f ) bonus Total Total 2004 2003
£000 £000 £000 £000 £000 £000 £000 £000
Chairman
MW Barrett(d)(e) 1,100 – 77 1,650 2,827 3,088 715 831
Executive Directors
JS Varley(e) 750 – 11 1,313 2,074 905 569 184
RJ Davis 500 – 12 825 1,337 –358 –
GA Hoffman(e) 500 – 10 825 1,335 –358 –
N Kheraj(e)(f ) 500 – 125 938 1,563 –406 –
DL Roberts 500 – 10 769 1,279 –333 –
Non-executive Directors(g)
TDG Arculus 68–––6858 ––
Sir Richard Broadbent 83–––8317 ––
RL Clifford(h) 13–––13–––
Professor Dame Sandra Dawson 62–––6244 ––
Sir Andrew Likierman(i) 26–––26–––
Sir Nigel Rudd 98–––9862 ––
SG Russell 93–––9377 ––
Dr Jürgen Zech 62–––6257 ––
Former Directors
Sir Peter Middleton(j) 550 – 16 – 566 566 ––
CJ Lendrum(k) 425 433 10 900 1,768 868 ––
Dame Hilary Cropper(l) 62–––6257 ––
Sir Brian Jenkins(m) 100–––100144 ––
Notes
(a) Emoluments include amounts, if any, payable by Barclays subsidiary undertakings.
(b) The Chairman and executive Directors receive benefits in kind, which may include life cover, the use of a Company owned vehicle or cash equivalent, medical
insurance and tax advice, on similar terms to other senior executives.
(c) The amounts shown for ESAS represent payments which are expected to be made by the trustee to fund the provisional allocation of shares in 2005, in respect
of 2004 performance, including a maximum potential 30% bonus share element, which is added to the award in two parts: 20% after three years, 10% after
five years.
(d) Matthew W Barrett’s remuneration reflects his role as Group Chief Executive up to and including 31st August 2004.
(e) Matthew W Barrett is a member of the Advisory Committee, Federal Reserve Bank of New York, and receives no fee in respect of this position. John Varley
is a Director of Ascot Authority (Holdings) Limited and British Grolux Investments Limited, for which he receives fees of £24,565 and £6,000 respectively.
Gary Hoffman is a Director of Visa (Europe) Limited, for which he receives no fee. Naguib Kheraj is a member of the Board of Governors of the Institute of
Ismaili Studies, for which he receives no fee.
(f ) Benefits for Naguib Kheraj included a cash allowance of 23% of base salary (£115,000) in lieu of pension contributions.
(g) Fees to non-executive Directors included an amount of not less than £20,000 per annum which, after tax, is used to buy Barclays PLC ordinary shares for each
non-executive Director.
(h) Richard Leigh Clifford was appointed as a non-executive Director on 1st October 2004.
(i) Sir Andrew Likierman was appointed as a non-executive Director on 1st September 2004.
(j) Sir Peter Middleton ceased to be Chairman with effect from 1st September 2004. However, his notice period ended on 31st December 2004and he therefore
received remuneration until that date. He received pension payments through the Barclays Bank UK Retirement Fund for 2004 of £74,000 (2003: £73,000).
Details of the payment are not included in the table above since this is a pension in payment relating to his Barclays service prior to becoming Chairman.
(k) Chris Lendrum ceased to be a Director on 31st December 2004. He received a payment in lieu of remuneration in the form of a pension contribution for
the balance of his 12-month contractual notice period ending 24th June 2005, less £43,000 for services to Barclays to be undertaken in the period between
1st January and 24th June 2005. These services include Chairmanship of the Barclays Bank UK Retirement Fund.
(l) Dame Hilary Cropper died on 26th December 2004.
(m) Sir Brian Jenkins ceased to be a Director on 1st September 2004.
(n) For those Directors who were appointed during the year and for those who ceased to be Directors during the year the remuneration shown relates to the period
for which they were Directors.