Governance - Xstrata

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The information in the tables set out on pages 127 to 129 has been subject to audit.
Emoluments and compensation (US$)
The emoluments and compensation in respect of qualifying services of each person who served as director during the year were as follows:
US$
Salary
and fees 1 Bonus
Deferred
bonus*
Housing
allowances
Health, life and
private medical
insurance
Other
benefits Total
Year ended
31.12.09
Total
Executives
Mick Davis 2,087,1002 2,147,0276a 4,294,0536a 183,0007a 168,6938 205,34010 9,085,213 7,752,149
Trevor Reid 1,051,2802 1,081,4656a 2,162,9306a 141,6607b 22,5759 – 4,459,910 6,044,883
Santiago Zaldumbide 1,326,0003 1,364,1706b 2,399,0556b Non-executives
– – – 5,089,225 6,035,193
Willy Strothotte 386,5004 – – – – – 386,500 378,972
Paul Hazen5 48,6084 – – – – – 48,608 137,808
Claude Lamoureux 161,5574 – – – – – 161,557 158,479
Ivan Glasenberg 140,5314 – – – – – 140,531 137,808
Sir Steve Robson CB 194,9514 – – – – – 194,951 184,318
David Rough 272,2514 – – – – – 272,251 267,003
Ian Strachan 175,6264 – – – – – 175,626 172,260
Peter Hooley 162,3374 – – – – – 162,337 114,839
Con Fauconnier5 151,0444 – – – – – 151,044 0
6,157,785 4,592,662 8,856,038 324,660 191,268 205,340 20,327,753 21,383,712
Notes:
1. Salary and fees includes non-executive directors’ fees which may be paid in shares.
2. In 2010, Mick Davis’s and Trevor Reid’s salaries were set and paid in UK pounds sterling. The salary figures above have been converted to US dollars based on the average £/$
exchange rate for the year of 1.546 (2009: 1.566) and therefore reflect the impact of the exchange rate fluctuations during the year.
3. In 2010, Santiago Zaldumbide’s base salary and benefits were set and paid in Euros. The figures above have been converted to US dollars based on the average €/$ exchange rate
for the year of 1.326 (2009: 1.394) and therefore reflect the impact of the exchange rate fluctuations during the year.
4. All non-executive director fees except those for Ian Strachan and Claude Lamoureux were set and paid in UK pounds sterling. Ian Strachan’s fees were set in UK pounds sterling,
and paid in US dollars. Claude Lamoureux’s fees were set in UK pounds sterling and paid in Canadian dollars. The figures above have been converted to US dollars based on the
average £/$ exchange rate for the year of 1.546 (2009: 1.566) and therefore reflect the impact of the exchange rate fluctuations during the year.
5. Paul Hazen resigned and Con Fauconnier was appointed at the AGM on 5 May 2010.
6a. Bonuses awarded in February 2011 in relation to the 2010 performance year. The bonuses were awarded in UK pounds sterling and converted at a rate of 1.590, the exchange rate
prevailing on the date of the award.
6b. Bonuses awarded in February 2011 in relation to the 2010 performance year. The bonuses were awarded in Euros and converted at a rate of 1.364, the exchange rate prevailing
on the date of the award.
7a. In 2010, Mick Davis’s housing allowance was awarded and paid in US dollars.
7b. In 2010, Trevor Reid’s housing allowance was awarded in US dollars and paid in UK pounds sterling.
8. In 2010, Mick Davis’s benefits were set and paid in UK pounds sterling. The benefits have been converted to US dollars based on the average £/$ exchange rate for the year of
1.546 (2009: 1.566) and therefore reflect the impact of the exchange rate fluctuations during the year. This includes an amount for life insurance of £90,234.
9. In 2010, Trevor Reid’s benefits were set and paid in UK pounds sterling. The benefits have been converted to US dollars based on the average £/$ exchange rate for the year of
1.546 (2009: 1.566) and therefore reflect the impact of the exchange rate fluctuations during the year. This includes an amount for life insurance of £10,796.
10. In order to facilitate travel to the Group’s operations, many of which are located in remote locations not served by commercial flight routes, Xstrata leases private aircraft to be used
from time to time for business travel by Xstrata executives. The Remuneration Committee has approved the private use of the company leased aircraft for Mick Davis, subject to any
private usage not conflicting with company requirements, for a limited number of hours per annum. The benefit shown above has been calculated based on marginal flight costs
for the hours used and converted to US dollars at the average £/$ exchange rate for the year of 1.546 (2009: 1.566) and therefore reflects the impact of the exchange rate
fluctuations during the year.
11. No consideration has been paid to or is receivable by third parties for making available the qualifying services of any directors during the year or in connection with the
management affairs of Xstrata.
* Deferred bonus payable in shares. The number of shares awarded pursuant to deferred bonuses payable in shares is determined by reference to the market value of the shares at
the date concurrent awards under the LTIP are made. The amount also includes $11,757 in respect of dividend equivalents accrued during the year in respect of prior years' deferred
bonus awards which will vest on the date of the underlying award for Santiago Zaldumbide. The deferred bonus awards made to Mick Davis and Trevor Reid in 2010 were
structured as net deferred awards and therefore dividends rather than dividend equivalents were paid.
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