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Directors' emoluments for 2007
| Other benefits | ||||||
|---|---|---|---|---|---|---|
| Salaries/ fees £000 |
Cash £000 |
Non cash £000 |
Performance- related payments £000 |
2007 Total £000 |
2006 Total £000 |
|
| Current directors who served during 2007 | ||||||
| Executive directors | ||||||
| J E Daniels | 960 | 105 | 8 | 1,811 | 2,884 | 2,444 |
| M E Fairey | 600 | 35 | 7 | 798 | 1,440 | 1,885 |
| T A Dial | 625 | 285 | 4 | 1,081 | 1,995 | 1,719 |
| A G Kane | 550 | 20 | 20 | 787 | 1,377 | 1,252 |
| G T Tate | 600 | 21 | 27 | 738 | 1,386 | 1,303 |
| H A Weir | 575 | 83 | 19 | 909 | 1,586 | 1,310 |
| Non-executive directors | ||||||
| Sir Victor Blank | 600 | 20 | 11 | 30 | 661 | 405 |
| W C G Berndt | 90 | 90 | 72 | |||
| Ewan Brown | 151 | 151 | 134 | |||
| J P du Plessis | 80 | 80 | 67 | |||
| P N Green | 56 | 56 | – | |||
| Sir Julian Horn-Smith | 95 | 95 | 82 | |||
| Lord Leitch | 130 | 130 | 80 | |||
| Former directors who served during 2007 | ||||||
| G J N Gemmell | 97 | 97 | 121 | |||
| D S Julius | 27 | 27 | 68 | |||
| Others | 315 | |||||
| 5,236 | 569 | 96 | 6,154 | 12,055 | 11,257 | |
Mr Fairey waived fees payable to him as a director of Lloyds TSB Group Pension Trust (No.1) Limited and Lloyds TSB Group Pension Trust (No.2) Limited, which totalled £10,750 in 2007 (2006: £10,000 waived).
Mr Brown waived fees payable to him as a director and chairman of Lloyds TSB Group Pension Trust (No.1) Limited and Lloyds TSB Group Pension Trust (No.2) Limited, which totalled £15,500 in 2007 (2006: £14,750 waived).
Mr Gemmell left the board on 30 September 2007 but remained a director of Scottish Widows Group and received fees of £11,250 from that company for the period October to December 2007.
The cash column under ‘other benefits’ includes flexible benefits payments (4 per cent of basic salary), the tax planning allowances for Mr Daniels and Ms Dial, the housing allowance and pension scheme allowance for Ms Dial, payments to certain directors who elect to take cash rather than a company car under the car scheme and the cash balance of pension allowance for Mrs Weir. Sir Victor Blank has elected to take cash rather than a company car and the payment made to him includes a backdated payment in respect of the period May–December 2006.
The non cash column includes amounts relating to the use of a company car, use of a company driver and private medical insurance. It also includes the value of any matching shares which are received under the terms of shareplan, through which employees have the opportunity to purchase shares up to a maximum of £125 per month and receive matching shares on a one for one basis up to a maximum value of £30 per month, rounded down to the nearest whole share.
Performance-related payments relate to cash bonuses based on group performance and the attainment of pre-determined targets relating to profit before tax and economic profit. These payments also include the value of any award made under shareplan, the first £3,000 of which is made in the form of shares in Lloyds TSB Group plc. The payment made to Sir Victor Blank relates to his participation in the shareplan in 2007 and a backdated entitlement in respect of the period May–December 2006.