This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Base salaries for all Executive Directors are reviewed each year and are adjusted, where appropriate, to recognise the individuals role, performance and position in their salary range and experience, as well as developments in the external executive pay market. The policy is to set base salaries within ranges positioned around the mid-market level for similar large international companies in the relevant national market (e.g. UK-based companies form the comparator group for UK-based executives). This is consistent with the remuneration principle that the total package for on-target performance should be fully competitive in the relevant market. Market pay data is supplied by independent external advisers appointed by the Remuneration Committee.