RBS 2011 Annual Report Download - page 293

RBS Group 2011 291
Remuneration in detail
The tables and explanatory notes on pages 291 to 293 detail the remuneration of each director for the year ended 31 December 2011 and have been
audited by the company's auditors, Deloitte LLP.
Directors' remuneration
Salary/
fees
£000
Benefits
£000
2011
Total
£000
2010
Total
£000
Chairman
Philip Hampton 750 — 750 750
Executive directors
Stephen Hester (1) 1,200 26 1,226
3,267
Bruce Van Saun (1,2) 744 132 876 2,298
Notes:
(1) Stephen Hester waived his award of 3.6 million shares which was approved by the Group Board and which was due to be awarded in March 2012. Bruce Van Saun will receive an award of 3.0
million shares in respect of 2011 performance, which will be delivered into Share Bank in March 2012 and will vest in March 2013 and 2014. For subsequent reporting years, the 3.0 million shares
awarded to Bruce Van Saun will be detailed in the Deferred Awards table (see page 292). Further details of the performance assessment of the executive directors in 2011 is outlined on pages 282
and 283. Amounts disclosed as performance bonus under the remuneration table in the 2010 Report & Accounts represent the cash value that was subsequently converted to shares at the date of
award in March 2011. The awards are shown as deferred awards granted in 2011 as set out on page 292.
(2) Bruce Van Saun is director of ConvergEx Holdings LLC and retains the fee paid to him in this respect. For 2011, he received a fee of $75,000.
Non-executive directors
The level of remuneration for non-executive directors reflects their responsibility and time commitment and the level of fees paid to non-executive
directors of comparable major UK companies. Non-executive directors do not participate in any incentive or performance plan. Non-executive directors
fees are reviewed regularly.
Board
fees
Board
Committee
fees
2011
Total
2010
Total
£000 £000 £000 £000
Non-executive directors
Sandy Crombie 150 — 150 150
Alison Davis (1) 30 13 43 —
Tony Di Iorio (2) 24 19 43 —
Penny Hughes (3) 150 — 150 130
Joe MacHale (4) 73 60 133
141
John McFarlane 73 30 103 103
Brendan Nelson (5) 150 — 150
111
Baroness Noakes (6) 30 13 43 —
Art Ryan 73 22 95 103
Philip Scott 150 — 150 150
Former non-executive director
Colin Buchan (7) 44 33 77
150
Notes:
(1) Appointed on 1 August 2011.
(2) Appointed on 1 September 2011.
(3) Fee has not increased in 2011. Lower fee in 2010 reflects appointment as Chair of Group Remuneration Committee with effect from 1 June 2010.
(4) Board Committee fee includes membership of the Asset Protection Scheme Senior Oversight Committee.
(5) Fee has not increased in 2011. Lower fee in 2010 reflects appointment to the Board from 1 April 2010 and as Chairman of the Group Audit Committee from 28 April 2010.
(6) Appointed on 1 August 2011.
(7) Retired from the Board with effect from 5 August 2011.