RBS 2004 Annual Report Download - page 131

section
02
129
Annual Report and Accounts 2004
Directors’ remuneration report
Governance
Chairman and non-executive directors
The original date of appointment as a director of the company and the scheduled date for the next re-election is as follows:
Date first appointed Next re-election
Sir George Mathewson 1 September 1987 2007
Lord Vallance 14 January 1993 Retires 20 April 2005
Sir Angus Grossart 30 September 1985 Retires 20 April 2005
Mr Buchan 1 June 2002 2006
Dr Currie 28 November 2001 20 April 2005
Mr Hunter 1 September 2004 20 April 2005
Mr Koch 29 September 2004 20 April 2005
Mr MacHale 1 September 2004 20 April 2005
Miss Mackay 16 May 1996 2006
Mr Robertson 14 January 1993 Retires 20 April 2005
Sir Steve Robson 25 July 2001 20 April 2005
Mr Scott 31 January 2001 2006
Mr Sutherland 31 January 2001 2006
Other than Iain Robertson, the non-executive directors do not have service contracts or notice periods although they have letters of
engagement reflecting their responsibilities and commitments. Under the company’s articles of association, all directors must retire
by rotation and seek re-election by shareholders at least every three years. No compensation would be paid to the Chairman or to any
non-executive director in the event of early termination.
Iain Robertson entered into a contract to reflect his role as a non-executive director, which took effect on 25 June 2003. Under
this contract, his appointment will terminate at the company’s annual general meeting on 20 April 2005, unless terminated
earlier by either party on one month’s written notice.
The tables and explanatory notes on pages 130 to 133 report the remuneration of each director for the year ended 31 December 2004
and have been audited by the company’s auditors, Deloitte & Touche LLP.