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Governance 59
Audited information
Directors’ emoluments
The remuneration of each director, excluding long-term incentive
awards and pensions, during the year ended 31 March 2008 is
laid out in Table 4.
Table 4 Salary/ Other Other Non-cash
fees Bonus (2) benefits (3) payments emoluments Total Total
£000 £000 £000 £000 £000 2008 2007
Executive directors
Keith Clarke 403 283 15 101 (4) 142 (5) 944 490
Alun Griffiths 182 110 14 – 55 (5) 361 9 (6)
Robert MacLeod 273 200 15 – 100 (5) 588 244
Total executive directors 858 593 44 101 297 1,893 743
Chairman and non–executive directors
Lord Boyce 36 – – – – 36 36
Fiona Clutterbuck (1) – – – – – – –
James Morley 42 – – – – 42 42
Ed Wallis 184 – 13 – – 197 158
Sir Peter Williams 42 – – – – 42 42
Total chairman and
non-executive directors 304 – 13 – – 317 278
(1) Fiona Clutterbuck has elected to waive her fee in favour of a charity of her choice.
(2) Amounts payable in cash.
(3) Other benefits include such items as company cars or allowances, fuel and
medical insurance.
(4) Keith Clarke is entitled to a pension payment equivalent to 25% of his salary.
He elected to receive this entitlement as a taxable payment.
Retirement benefits
Keith Clarke has a contractual entitlement to receive an amount
equivalent to 25% of his basic salary as a pension payment. He
elected to receive this entitlement as an additional emolument
and this is reported in Table 4.
Robert MacLeod also has a contractual entitlement to receive an
annual amount equivalent to 25% of his basic salary towards his
pension benefits. During the year the Company has made payments
of £68,250 (2007: £57,500) into his personal pension plan.
Alun Griffiths is 53 and had completed 22 years service as at
31 March 2008. He was a member of a final salary arrangement
until 30 September 2007 when the scheme was closed to future
accrual. Since 1 October 2007 he has participated in a defined
contribution arrangement on the same terms as other UK based
staff. The value of his accrued benefit under the final salary
arrangement at the start of the financial year was £54,471 per
annum with a transfer value of the total accrued benefit of
£564,869. His accrued pension increased by £9,482 per annum
during the year. This sum will continue to increase in line with
increases in Mr Griffiths’ base salary. The transfer value of the
increase in accrued benefit was £138,654. As at 31 March 2008,
the value of his accrued benefit was £63,953 per annum, with
a transfer value of the total accrued benefit of £703,523. The
difference between the transfer values of the total accrued benefit
at the beginning and end of the financial year, less his
contributions, was £131,069. Under the defined contribution
arrangement he receives an annual amount equivalent to 13%
of his basic salary. This consists of a 10% ordinary employer
contribution and a transitional employer contribution of 3%
payable until 30 September 2010. The transitional contribution
(5) Keith Clarke, Alun Griffiths and Robert MacLeod are required to take a minimum
of one-third of their bonus payment in the form of a right to acquire shares
under the DBP. Awards of shares to these values will be made following the
announcement of the preliminary results pursuant to the rules of the DBP.
(6) Alun Griffiths was appointed as a director on 13 March 2007.
is payable to all members of the Atkins Pension Plan affected by
the closure of their defined benefit accrual. During the year the
Company has made payments of £10,980 (2007: £ nil) under
Mr Griffiths’ defined contribution arrangement.
All executive directors receive life assurance cover equal to four
times their basic salary.
Directors’ interests
The beneficial interests of the directors and their families in the
ordinary shares of 0.5p each in the Company as at 31 March 2008
are shown in Table 5.
Table 5 At 25.06.08 At 31.03.08 At 31.03.07
Chairman and non-executive directors
Lord Boyce 846 846 846
Fiona Clutterbuck 1,000 1,000 –
James Morley 3,750 3,750 1,250
Raj Rajagopal – n/a n/a
Ed Wallis 2,500 2,500 1,000
Sir Peter Williams 2,500 2,500 2,500
10,596 10,596 5,596
Executive directors
Keith Clarke (1) 66,984 66,949 36,956
Alun Griffiths (1) 21,434 21,399 16,547
Robert MacLeod (1) 19,832 19,797 15,456
108,250 108,145 68,959
Total 118,846 118,741 74,555
(1) Changes in directors’ interests of Keith Clarke, Alun Griffiths and Robert MacLeod
between 31 March and 25 June 2008 relate to shares acquired via the WS Atkins
Share Incentive Plan.
Introduction Reviews Governance Financial Statements Investor Information
WS Atkins plc Annual Report 2008