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This excerpt taken from the ICI 6-K filed Mar 21, 2007. Annual Incentive Plan The bonus opportunity available to Executive Directors for 2006 for the achievement of on-target performance was 50% of base salary, with a maximum opportunity of 100% of base salary for significant over-achievement.
Remuneration report continued
The targets focused on the delivery of profit, cash flow, return on capital employed (ROCE), sales and key strategic objectives, with greatest weighting on the financial measures of profit and cash flow. For those executives responsible for the performance of one of ICI’s businesses, the heaviest weighting was on the profit of the executive’s own business, with the other financial measures being the cash flow, ROCE and sales performance of their business plus an element on ICI Group profit and cash flow performance. On-target performance and the ranges defining minimum and maximum payment were agreed by the Remuneration Committee and were set to be appropriately challenging for the ICI Group and for each business. Indicatively, the financial performance required to achieve maximum payment in 2006 on the ICI Group profit measure was 10% greater than the level for on-target performance. Bonus payments made to the executives in respect of ICI’s performance in 2006 reflected good performance, particularly against a backdrop of mixed market conditions. The Group exceeded the target level of performance for adjusted profit before tax and cash flow. Return on capital employed reached the on-target level for the Group. More than 75% of the bonus payments were linked to financial targets. Performance against key strategic objectives reflects targets that were focused on driving profitable growth and operating efficiency, implementing the restructuring plans and further developing the executive and senior management talent pool. The level of performance, against both financial targets and key strategic objectives, has been reviewed in detail by the Remuneration Committee which has approved the level of individual payments. The payments under the 2006 Annual Incentive Plan are shown in the Directors’ emoluments table on page 49.
This excerpt taken from the ICI 6-K filed Mar 14, 2006. Annual
Incentive Plan
The bonus opportunity available to Executive Directors for 2005 for the achievement of on-target performance was 50% of base salary, with a maximum opportunity of 100% of base salary for significant over-achievement.
2005 Actual remuneration (continued) The targets focused on the delivery of profit, cash flow, return on capital employed (ROCE), sales and key strategic objectives, with greatest weighting on the financial measures of profit and cash flow. For those executives responsible for the performance of one of ICI’s International Businesses, the heaviest weighting was on the profit of the executive’s own business, with the other financial measures being the cash flow, ROCE and sales performance of their business. On-target performance and the ranges defining minimum and maximum payment were agreed by the Remuneration Committee and were set to be appropriately challenging for the ICI Group and for each International Business. Indicatively, the financial performance required to achieve maximum payment in 2005 on the profit measures was 15% greater than the level for on-target performance. Bonus payments made to the executives in respect of ICI’s performance in 2005 reflected the satisfactory progress made during the year in mixed trading conditions. The on-target level of performance for the Group profit measure was achieved and the on-target performance for cash flow before acquisitions and divestments was comfortably exceeded, whilst return on capital employed was just below the on-target level. Generally the International Businesses met or exceeded targets, with cash flow generation being of particular note, achieved through good working capital control and the effective management of capital expenditure. Payments for the financial elements comprised, on average, approximately 80% of the total bonus payments made for 2005. The key strategic objectives for 2005 focused on driving down operating costs, development and retention of executive talent and, where required, developing and executing focused improvement plans for specific business areas to ensure they meet their strategic targets. The level of performance against the individual objectives has been reviewed in detail by the Remuneration Committee which has approved the appropriate levels of payment. The payments under the 2005 Annual Incentive Plan are shown in the Directors’ emoluments table on page 45. Long-term
Incentives  One Director received an award under the Economic Profit measure of the Performance Growth Plan for the 2003 to 2005 performance period and this is shown on page 46 together with details of the performance achieved. Details of the share option plan under which options were granted in 2005 are laid out on page 43 and the performance conditions are set out on page 48. There is no retesting of the Performance Condition. There were no options exercised by Executive Directors during 2005. This excerpt taken from the ICI 20-F filed Apr 1, 2005. Annual Incentive Plan
The bonus opportunity available to Executive Directors for 2004 for the achievement of on-target performance was 50% of base salary, with a maximum opportunity of 100% of base salary for significant over-achievement. The targets focused on the delivery of profit, cash generation and key strategic objectives with greatest weighting on the financial measures of profit and cash. For those executives responsible for the performance of one of ICI’s International Businesses, the heaviest weighting was on profit of the executive’s own business, with the other financial measure being the cash performance of their business. On-target performance and the ranges defining minimum and maximum payment were agreed by the Remuneration Committee and were set to be appropriately challenging for ICI Group and for each International Business. Indicatively, the financial performance required to achieve maximum payment in 2004 on the profit measure was 15% greater than the level for on-target performance. Bonus payments to the executives in respect of performance in 2004 reflect the strong performance of ICI Group and the majority of the International Businesses. Profit targets were exceeded by ICI Group and all the International Businesses. There were high levels of cash generation and most cash flow targets were exceeded. This was achieved in conjunction with effective capital expenditure and good management of working capital throughout the year. The key strategic objectives for 2004 focused on improving performance in specific areas of the business and strengthening the organisation. The executives demonstrated good performance against their key strategic objectives, with high levels of achievement in the areas of financial management and development of people. The payments under the 2004 Annual Incentive Plan are shown in the Directors’ emoluments table on page 47.
ICI ANNUAL REPORT AND ACCOUNTS 2004
2004 Actual remuneration (continued)
This excerpt taken from the ICI 6-K filed Mar 16, 2005. Annual Incentive Plan
The bonus opportunity available to Executive Directors for 2004 for the achievement of on-target performance was 50% of base salary, with a maximum opportunity of 100% of base salary for significant over-achievement. The targets focused on the delivery of profit, cash generation and key strategic objectives with greatest weighting on the financial measures of profit and cash. For those executives responsible for the performance of one of ICI’s International Businesses, the heaviest weighting was on profit of the executive’s own business, with the other financial measure being the cash performance of their business. On-target performance and the ranges defining minimum and maximum payment were agreed by the Remuneration Committee and were set to be appropriately challenging for ICI Group and for each International Business. Indicatively, the financial performance required to achieve maximum payment in 2004 on the profit measure was 15% greater than the level for on-target performance. Bonus payments to the executives in respect of performance in 2004 reflect the strong performance of ICI Group and the majority of the International Businesses. Profit targets were exceeded by ICI Group and all the International Businesses. There were high levels of cash generation and most cash flow targets were exceeded. This was achieved in conjunction with effective capital expenditure and good management of working capital throughout the year. The key strategic objectives for 2004 focused on improving performance in specific areas of the business and strengthening the organisation. The executives demonstrated good performance against their key strategic objectives, with high levels of achievement in the areas of financial management and development of people. The payments under the 2004 Annual Incentive Plan are shown in the Directors’ emoluments table on page 47.
ICI ANNUAL REPORT AND ACCOUNTS 2004
2004 Actual remuneration (continued)
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