Remuneration Committee

The Committee is responsible for:

  • Determining and agreeing with the Board of Directors, the framework or Board Policy for the remuneration of the members of the Board.
  • Setting the remuneration for all non-executive Directors, the Chairman and the Company Secretary.
  • Recommending and monitoring the level and structure of remuneration for senior management – if any.
  • Ensuring that contractual terms on termination and any payments made are fair to the individual and the Company, that failure is not rewarded and that the duty to mitigate loss is fully recognised.
  • Co-ordinating closely with the Nomination Committee in relation to the remuneration to be offered to any new non-executive Director.
  • Agreeing the Policy for authorising claims for expenses from the Board and the Chairman.
  • Ensuring that provisions regarding disclosure of remuneration, including pensions, as set out in the Directors’ Remuneration Report, are fulfilled.
  • Establishing the selection criteria, selecting, appointing and setting the terms of reference for any remuneration consultants who advise the Committee



Millennium House,
46 Athol Street, Douglas,
Isle of Man, IM1 1JB.
Telephone: +44 (0) 1624 692 600
Fax: +44 (0) 692 601