Barclays 2013 Annual Report Download - page 120

Statement of implementation of remuneration policy in 2014
The executive Directors' package for 2014, in line with the Directors’ remuneration policy, will be implemented with effect from the 2014 AGM
as follows:
Antony Jenkins Tushar Morzaria Comments
Base Salary £1,100,000 £800,000 No change from 2013.
Role Based Pay £950,000 £750,000 Paid quarterly in shares subject to a holding period with
restrictions lifting over five years.
Pension 33% of salary 25% of salary Fixed cash allowance in lieu of participation in pension plan
Maximum bonus 80% of fixed pay 80% of fixed pay Award subject to performance over the year and delivered in
cash and/or shares, a proportion of which are deferred (at
least the amount required by the PRA Remuneration Code)
over three years with one-third vesting each year
Maximum LTIP 120% of fixed pay 120% of fixed pay Delivered in shares and vesting dependent on performance
over a three year period and subject to a further two year
holding period after vesting
Annual bonus
The annual bonus opportunity will be consistent with the policy detailed in the remuneration policy section of this report in terms of the
maximum bonus opportunity, deferral and malus provisions. The measures have been selected to reflect a range of financial and non-financial
goals that support the key strategic objectives of the Company. The performance measures and weightings are shown below.
Financial (50% weighting)
 Business performance and Income generation
 Cost management
 Balance sheet
 Leverage
 Capital management
 Progress on the Transform programme financial commitments will continue to be assessed in 2014.
Balanced Scorecard
(35% weighting)
 Progress towards the five year Balanced Scorecard targets will be assessed by the Committee at the year
end. Each of the 5Cs in the Balanced Scorecard will have equal weighting. The Balanced Scorecard is set out
on page 10.
Personal objectives (15%
weighting)
Personal objectives for each
executive Director will be
aligned to Barclays’ Purpose,
Values and Behaviours and
to the 5Cs of the Balanced
Scorecard – Customers &
Clients, Colleagues,
Citizenship, Conduct and
Company.
Antony Jenkins’ 2014 personal objectives include:
 Delivery of the Transform commitments
 Further strengthening the control environment
 Continuing to embed our Purpose, Values and Behaviours and rebuilding Barclays’ reputation
 Continuing to strengthen the Executive Committee and Senior Leadership Group.
Tushar Morzaria’s 2014 personal objectives include:
 Effective management of the finance, tax and treasury functions including risk and control
 Management of external relationships and reputation
 Increased functionalisation and improved efficiency of functions.
Detailed calibration of the targets is commercially sensitive and it is not appropriate to disclose this information externally. Disclosure of
achievement against the targets will be made in the 2014 annual report subject to the sensitivity no longer remaining.
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118 Barclays PLC Annual Report 2013
Remuneration report
Annual report on Directors’ remuneration continued