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Remuneration Committee Report continued<br />
Annual Remuneration<br />
Report continued<br />
ESP<br />
Under the ESP, performance share awards and deferred bonus awards will be made in July <strong>2016</strong>. The number of shares over which awards<br />
will be made is determined by the share price leading up to the award.<br />
The value of each performance share award, relative to salary has been fixed as follows:<br />
Executive Director<br />
Salary for<br />
<strong>2016</strong>/17<br />
Performance<br />
share award<br />
Value of<br />
award<br />
Andrew Williams £612,000 200% £1,224,000<br />
Kevin Thompson £383,000 175% £670,250<br />
Adam Meyers $480,000 150% $720,000<br />
The performance share awards to be granted in July <strong>2016</strong> will be subject to an earnings per share performance target for 50% of the award<br />
and a ROTIC target for 50% of the award measured over the three financial years 2017, 2018 and 2019. The performance targets are set<br />
out below:<br />
Performance targets for <strong>2016</strong> and 2017 PSP awards<br />
ROTIC* (post tax)<br />
% of award vesting**<br />
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