Table1 - Executives' and non executive directors' remuneration

Management & Governance

Table1 - Executives' and non executive directors' remuneration

			Short term employee benefits			Total short term benefits⁴	Other long term benefits	Long term employee benefits
								Value of share based awards⁵
Stated in US$'000¹		Base salary	Cash bonus	Other cash based benefits²	Non-monetary benefits³			MCCP⁶	SOP⁷	Others⁸
Chairman
Paul Skinner¹¹	2007	1,282	-	34	160	1,476	-	-	-	-
	2006	1,114	-	31	147	1,292	-	-	-	-
Non executive directors¹²
Ashton Calvert	2007	121	-	42	-	163	-	-	-	-
	2006	119	-	60	-	179	-	-	-	-
Sir David Clementi	2007	174	-	16	-	190	-	-	-	-
	2006	138	-	15	-	153	-	-	-	-
Vivienne Cox	2007	154	-	16	-	170	-	-	-	-
	2006	129	-	7	-	136	-	-	-	-
Sir Rod Eddington	2007	133	-	15	-	148	-	-	-	-
	2006	109	-	21	-	130	-	-	-	-
Michael Fitzpatrick	2007	164	-	46	-	210	-	-	-	-
	2006	74	-	35	-	109	-	-	-	-
Yves Fortier¹⁴	2007	32	-	-	-	32	-	-	-	-
	2006	-	-	-	-	-	-	-	-	-
Richard Goodmanson	2007	184	-	28	-	212	-	-	-	-
	2006	138	-	18	-	156	-	-	-	-
Andrew Gould	2007	204	-	8	-	212	-	-	-	-
	2006	156	-	15	-	171	-	-	-	-
Lord Kerr	2007	174	-	8	-	182	-	-	-	-
	2006	135	-	7	-	142	-	-	-	-
David Mayhew¹³	2007	150	-	8	-	158	-	-	-	-
	2006	133	-	15	-	148	-	-	-	-
Sir Richard Sykes¹³	2007	236	-	24	-	260	-	-	-	-
	2006	202	-	15	-	217	-	-	-	-
Paul Tellier¹⁴	2007	35	-	-	-	35	-	-	-	-
	2006	-	-	-	-	-	-	-	-	-
Executive directors
Tom Albanese¹¹	2007	1,494	1,277	49	271	3,091	477	6,556	758	8
	2006	899	842	-	(47)	1,694	378	(115)	599	13
Leigh Clifford¹¹	2007	1,401	1,008	718	558	3,685	1,582	103	911	3
	2006	1,611	1,598	148	296	3,653	-	(1,162)	1,090	3
Guy Elliott	2007	1,213	1,005	30	6	2,254	-	5,855	625	13
	2006	1,016	1,011	28	6	2,061	-	(614)	512	11
Dick Evans	2007	281	-	25	54	360	-	-	-	-
	2006	-	-	-	-	-	-	-	-	-
Other key management personnel
Preston Chiaro	2007	650	422	21	536	1,629	-	5,015	557	16
	2006	591	412	21	214	1,238	-	(119)	444	7
Bret Clayton	2007	570	541	-	1,075	2,186	-	1,583	199	14
	2006	429	349	50	430	1,258	-	64	102	12
Oscar Groeneveld	2007	1,261	877	-	86	2,224	478	5,292	528	4
	2006	962	839	-	88	1,889	359	(606)	418	2
Keith Johnson	2007	781	558	33	3	1,375	-	3,730	423	11
	2006	663	644	-	35	1,342	-	(54)	325	9
Andrew Mackenzie	2007	861	111	12	28	1,012	-	3,575	436	13
	2006	737	723	-	32	1,492	-	57	267	11
Sam Walsh	2007	1,108	894	-	81	2,083	-	4,816	491	4
	2006	887	664	-	57	1,608	-	(28)	381	2

	Post employment benefits⁹		Termination benefits	Total remuneration
Stated in US$'000	Pension and superannuation	Other post employment benefits				Currency of actual payment
Chairman
Paul Skinner¹¹	-	-	-	1,476	2007	£
	-	-	-	1,292	2006	£
Non executive directors¹²
Ashton Calvert	-	-	-	163	2007	A$
	-	-	-	179	2006	A$
Sir David Clementi	-	-	-	190	2007	A$
	-	-	-	153	2006	A$
Vivienne Cox	-	-	-	170	2007	A$
	-	-	-	136	2006	A$
Sir Rod Eddington	-	-	-	148	2007	A$
	-	-	-	130	2006	A$
Michael Fitzpatrick	-	-	-	210	2007	A$
	-	-	-	109	2006	A$
Yves Fortier¹⁴	-	-	-	32	2007	£
	-	-	-	-	2006	-
Richard Goodmanson	-	-	-	212	2007	£
	-	-	-	156	2006	£
Andrew Gould	-	-	-	212	2007	£
	-	-	-	171	2006	£
Lord Kerr	-	-	-	182	2007	£
	-	-	-	142	2006	£
David Mayhew¹³	-	-	-	158	2007	£
	-	-	-	148	2006	£
Sir Richard Sykes¹³	-	-	-	260	2007	£
	-	-	-	217	2006	£
Paul Tellier¹⁴	-	-	-	35	2007	£
	-	-	-	-	2006	-
Executive directors
Tom Albanese	1,706	-	-	12,595	2007	£
	707			3,276	2006	£
Leigh Clifford¹⁰	364	-	817	7,465	2007	£
	406	-		3,990	2006	£
Guy Elliott	560	-	-	9,307	2007	£
	707			2,677	2006	£
Dick Evans	56	-	-	416	2007	US$
	-	-	-	-	2006	-
Other key management personnel
Preston Chiaro	190	7	-	7,414	2007	US$
	180	5	-	1,755	2006	US$
Bret Clayton	82	3	-	4,067	2007	US$
	70	3	-	1,509	2006	US$
Oscar Groeneveld	281	-	-	8,807	2007	A$
	254	-	-	2,316	2006	A$
Keith Johnson	422	-	-	5,961	2007	£
	385	-	-	2,007	2006	£
Andrew Mackenzie	518	-	-	5,554	2007	£
	475	-	-	2,302	2006	£
Sam Walsh	290	-	-	7,684	2007	A$
	252	-	-	2,215	2006	A$

Notes

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The total remuneration is reported in US dollars. The amounts, with the exception of the annual cash bonus, can be converted into sterling at the rate of US$1 = £0.4995 or alternatively into Australian dollars at the rate of US$1 = A$1.1959, each being the average exchange rate for 2007. The annual cash bonus is payable under the STIP and this may be converted at the 2007 year end exchange rate of US$1 = £0.5005 to ascertain the sterling equivalent or alternatively, US$1 = A$1.141 to calculate the Australian dollar value.
Other cash based benefits for executives are described in the Remuneration report. Cash based benefits include cash in lieu of a car and fuel, cash in lieu of holiday and in the case of Tom Albanese only, the grossed up equivalent of re-imbursed costs following the cancellation of a holiday at short notice so as to undertake company business.
Non monetary benefits for executives include healthcare, 401K contributions in the US, the provision of a car, annual leave accruals and secondment costs comprising housing, education, professional advice, tax equalisation and relocation payments made to and on behalf of executives living outside their home country. In the case of Tom Albanese only, it also includes the grossed up proportionate value of company provided transport. In previous years costs which are not compensation were included in 'Non monetary benefits', namely social security contributions and accident insurance premiums in the UK and US and payroll tax in Australia. These have not been included in 2007 and the comparative figures for 2006 have been restated to reflect this.
"Total short term benefits" represents the short term benefits total required under schedule 7A of the UK Companies Act 1985 (UK) and total remuneration under the Australian Corporations Act 2001 and applicable accounting standards.
The value of share based awards has been determined in accordance with the recognition and measurement requirements of IFRS2 "Share based Payment". The fair value of awards granted under the Rio Tinto Share Option Plan (the SOP) and the Rio Tinto Share Savings Plan (the SSP) have been calculated at their dates of grant using an independent lattice based option valuation model provided by external consultants, Lane Clark and Peacock LLP. The fair value of awards granted under the Mining Companies Comparative Plan (the MCCP) has been based on the market price of shares at the measurement date adjusted to reflect the number of awards expected to vest based on the current and anticipated relative TSR performance and, where relevant, for non receipt of dividends between measurement date and date of vest. Over 2007, the increase in Rio Tinto's share price combined with an improvement in Rio Tinto's TSR performance relative to the comparator group, has led to significant increases in the value attached to the MCCP under these accounting standards. Further details of the valuation methods and assumptions used for these awards are included in note 48 (Share Based Payments) in the 2007 Full financial statements. The fair value of other share based awards is measured at the purchase cost of the shares from the market.
The number of conditional shares awarded to executives under the MCCP for the twelve month period ending 31 December 2007 are shown in Table 4 - Executives' awards under long term incentive plans.
The award of options to executives under the SOP during the twelve month period up to 31 December 2007 is shown in Table 5 - Executives' options to acquire Rio Tinto plc and Rio Tinto Limited shares.
Under the Share Ownership Plan UK executives are beneficiaries of free shares up to a maximum value of £3,000 (US$6,006) and may also contribute to urchase additional shares where the Company will match their personal contributions up to a maximum of £1,500 (US$3,003) per annum. Under these plans Guy Elliott, Keith Johnson and Andrew Mackenzie each received a total of £4,500 (US$9,009) and Tom Albanese a total of £3,000 (US$6,006). American Group product chief executives enjoy a Company matching of personal contribution for shares under the 401k arrangements up to a maximum of US$14,250. The Company matched personal contributions to the following values: Preston Chiaro US$14,250 and Bret Clayton US$13,500.
The costs shown for defined benefit pension plans and post retirement medical benefits are the service costs attributable to the individual, calculated in accordance with IAS19. The cost for defined contribution plans is the amount contributed in the year by the company.
Leigh Clifford resigned as a director on 30 April 2007 and retired from the Group on 30 September 2007. His remuneration of US$7,465,000 represents his total remuneration up to the date of his retirement, of which US$1,684,000 related to the period of service as a director and US$5,781,000 related to the period of service thereafter. The remuneration for the period of service as a director comprises short term benefits of US$1,286,000, share based awards of US$197,000 and post employment benefits of US$201,000. The remuneration after Leigh's resignation as a director includes two payments related to his retirement. He was entitled to a long term benefit of US$1,582,000 which represents long service leave amounts required under Australian legislation and accrued by the Company during his 37 years of completed service. Upon retiring he was entitled to a termination benefit of US$817,000 related to his superannuation. This entitlement arose in respect of a benefit granted in 2004 when his contractual retirement age was reduced by the Company from 62 to 60. An additional benefit equivalent to the increase in the pension multiple at age 60 from 6.65 to 7.0 was rolled over to an Australian superannuation fund as a Transitional Termination Payment. This was grossed up for the resultant Australian tax liability to deliver the intended multiple. In 2006, allowance for this additional benefit was included in 'Table 2 - Executive directors' pension entitlements'.
The non-monetary benefit represents the grossed up proportionate value of company provided transport in 2007. The 2006 figures have been restated accordingly. The non monetary benefit also includes medical insurance.
The "Other cash based benefits" for non executive directors comprises an overseas meeting allowance only.
David Mayhew's fees for the full year were paid to JPMorgan Cazenove and Sir Richard Sykes's fees for the period 1 January 2007 to 30 April 2007 were paid to Imperial College. Thereafter, they were paid direct to Sir Richard. The fees disclosed above include £15,000 (US$30,030) paid to JPMorgan Cazenove for David Mayhew's attendance at Audit committee meetings in his capacity as advisor.
Yves Fortier and Paul Tellier were appointed directors with effect from 25 October 2007.