The median fees for Housing Associations Non-Executive Directors is currently £3,500.

The median fees for Non-Executive Directors is currently at £34,000.

The company uses a bespoke comparator group of the Standard & Poors Global 1200 Capital Goods Index.  However, outliers are excluded when calculating TSR, an equal number above and below the median.  The remuneration consultant then calculates what would be deemed upper quartile performance.  This was deemed to be 30% above the index for 2009 / 10 awards reduced to 25%.

The Company will use three annually set targets for the eps performance element of its LTIP.

A deferred share bonus plan provides for an annual award of upto 100% of base determined upon annual performance.  There are no further performance criteria on release other than continued employment.  This is in addition to the annual cash bonus (130% for the CEO). The deferred bonus share amounts are not disclosed as annual bonus.  There is a matching plan where the deferred bonus shares can then be matched upto two times.  Another way of looking at the arrangement is a RSS with award of upto 300% with 1/3rd not subject to performance and 2/3rd subject to TSR performance.

̏The Committee considers base salary and salary increase for executives based on the median levels of pay within a group of comparable companies in the FTSE 350 Retail sectoȑ  Two questions - does this imply that salaries are at the median? Which companies have been excluded from the FTSE 350 retail sector and what is the impact of their exclusion on the comparative data?