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• Non-executive directors

Directors' remuneration report

Non-executive directors

The Chairman and the non-executive directors have letters of appointment rather than service contracts. No compensation is payable to the Chairman or to any non-executive director if the appointment is terminated early.

Non-executive directors' fees
The Board takes account of independent market surveys in determining the fees payable to the Chairman and the non-executive directors. The fees paid to the Chairman and non-executive directors are shown in the emoluments table.

The current annual fees payable to the non-executive directors are as follows:

	Fees payable
Chairman	£ 370,000
Other non-executive directors	£ 55,000
Chairman of audit committee	£ 15,000
Chairman of remuneration committee	£ 12,000
Chairman of ethics committee	£ 12,000
Senior Independent Director	£ 10,000

The Chairman and the non-executive directors are not eligible to participate in any of the Group’s share schemes, incentive arrangements or pension schemes. A facility is in place which enables non-executive directors to use some or all of their fees, after the appropriate statutory deductions, to make market purchases of shares in the Company on a monthly basis.