Executive Directors’ – total remuneration package for the year ended 31 March 2011

The following tables show the remuneration package of the executive directors for the year ended 31 March 2011.

Javed Ahmed (Chief Executive)

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Element

Below threshold
performance
£000

At threshold
performance
£000

At target
performance1
£000

At stretch
performance
£000

Actual earned/
vested2
£000

Base salary

675

675

675

675

675

Annual bonus

None

68

506

1 013

1 013

 

 

(10% of base salary)

(75% of base salary)

(150% of base salary)

 

LTI – face value of 2010 grant

None

506

1 266

2 025

(vesting deferred until 2013)

 

(25% vesting)

(62.5% vesting)

(100% vesting)

 

LTI vesting for performance to 31 March 20113

1 267

Pension allowance

236

236

236

236

236

Other benefits

19

19

19

19

19

Total value

930

1 504

2 702

3 968

3 210

Tim Lodge (Chief Financial Officer)

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Element

Below threshold
performance
£000

At threshold
performance
£000

At target
performance1
£000

At stretch
performance
£000

Actual earned/
vested2
£000

1

In the case of the LTI, ‘target’ is taken to be midway between threshold and stretch.

2

Actual annual bonus earned in respect of 2011 and LTI vesting of 81% following year-end 31 March 2011, which are valued using the closing share price on 31 March 2011. In the case of Tim Lodge, his PSP award, which will convert into a deferred right to acquire the appropriate number of Tate & Lyle PLC shares at the end of a one year retention period subject to service conditions, represents £150,658 and the DBSP £34,350, representing the matching component of shares awarded in 2008.

3

Relates to special incentive arrangements upon recruitment to compensate for LTI awards foregone as a result of leaving his former employer.

4

The portion of bonus that exceeds 100% of base salary is deferred into Tate & Lyle PLC shares for two years.

5

Estimated value of defined benefit pension accrual has been calculated taking account of the accrual rate, salary increase effective 1 April 2010, pensionable service and the HMRC valuation factor.

6

As of 6 April 2011, the Group Pension Scheme closed to future accrual. Tim Lodge, who was a member of the Scheme, now receives 25% of base salary as a cash allowance and no longer accrues a defined benefit pension.

Base salary

383

383

383

383

383

Annual bonus4

None

0

191

669

669

 

 

(0% of base salary)

(50% of base salary)

(175% of base salary)

 

LTI – face value of 2010 grant

None

143

550

956

(vesting deferred until 2013)

 

(15% vesting)

(57.5% vesting)

(100% vesting)

 

LTI vesting for performance to 31 March 20113

185

Cash value of pension accrual5,6

216

216

216

216

216

Other benefits

14

14

14

14

14

Total value

613

756

1 354

2 238

1 467