Contracts of service
Executive Directors
The Remuneration Committee’s policy is for Executive Directors to have rolling contracts with a 12-month notice period.
Volker Böttcher, Paul Bowtell, Peter Long, Johan Lundgren and William Waggott currently have service agreements with a 12-month notice period and it is intended that all new appointments will also have 12-month notice periods. However, on occasion, to complete an external recruitment successfully, a longer initial period may be used reducing to 12 months, following guidance in the Combined Code.
No provisions for compensation for termination following change of control, or for liquidated damages of any kind, are included in the current Directors’contracts. In the event of any early termination of an Executive Director’s contract, the policy is to seek to minimise any liability.
| Effective date | Unexpired term/ | |
|---|---|---|
| Executive Director | of contract | notice period |
| Dr Volker Böttcher | 5 September 2007 | 12 |
| Paul Bowtell | 7 April 2008 | 12 |
| Peter Long | 19 February 2008 | 12 |
| Johan Lundgren | 20 March 2009 | 12 |
| William Waggott | 22 April 2008 | 12 |
Non-Executive Directors
| Effective date | Unexpired term/ | |
|---|---|---|
| Non-Executive Director | of appointment | notice period |
| Horst Baier | 13 October 2009 | 6 |
| Tony Campbell | 3 September 2007 | 6 |
| Clare Chapman | 3 September 2007 | 6 |
| Bill Dalton | 3 September 2007 | 6 |
| Rainer Feuerhake | 3 September 2007 | 6 |
| Dr Michael Frenzel | 3 September 2007 | 6 |
| Jeremy Hicks | 3 September 2007 | 6 |
| Sir Michael Hodgkinson | 3 September 2007 | 6 |
| Giles Thorley | 3 September 2007 | 6 |
| Dr Erhard Schipporeit | 29 October 2007 | 6 |
| Dr Albert Schunk | 29 October 2007 | 6 |
| Harold Sher | 29 October 2007 | 6 |