Management & Governance
Remuneration components
The following table sets out the annual fees payable to the chairman and the non executive directors in £/A$, as appropriate.
| As at 31 Dec 2007 |
As at 31 Dec 2006 |
|
|---|---|---|
| Base fees: | ||
| Chairman | £693,000 | £630,000 |
| Other directors | £70,000/ A$160,000 | £60,000/ A$150,000 |
Additional fees: |
||
| Senior independent director | £35,000 | £35,000 |
| Audit committee chairman | £30,000 | £30,000 |
| Audit committee member | £15,000/ A$37,500 | £15,000/ A$37,500 |
| Remuneration committee chairman | £20,000 | £20,000 |
| Remuneration committee member | £10,000/ A$25,000 | £10,000/ A$25,000 |
| Nominations committee member | £7,500 | - |
| Committee on social and environmental accountability chairman | £20,000 | £20,000 |
| Committee on social and environmental accountability member | £7,500/ A$18,750 | £7,500/ A$18,750 |
Overseas meeting allowances: |
||
| Long distance (flights over 10 hours per journey) | £4,000/ A$10,000 | £4,000/ A$10,000 |
| Medium distance (flights of 5-10 hours per journey) | £2,000/ A$5,000 | £2,000/ A$5,000 |
There were eight scheduled board meetings (2006: eight) and 11 held at short notice (2006: one).
No additional fee is payable to the chairman of the Nominations committee.
Rio Tinto does not pay retirement benefits or allowances to the chairman or non executive directors, nor do any of them participate in any of the Group's incentive plans. Where the payment of statutory minimum superannuation contributions for Australian non executive directors is required by the Australian superannuation guarantee legislation, these contributions are deducted from the directors' overall fee entitlements.
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