New Anglia Local Enterprise Partnership
Remuneration Committee Meeting
Thursday 24th February 2022
10.00am – 11am
By MS Teams
Agenda
No. Item
1. Minutes of the last meeting – Confidential
2. Matters arising
3. Progress of CEO objectives – Confidential
4. CEO Pay Review – Confidential
5. Gender Pay Gap Report – Confidential
6. Remuneration Committee Terms of Reference
7. Any Other Business
1
New Anglia LEP Remuneration Committee
2nd March 2021 - MINUTES
Present:
Mark Jeffries, Chairman (MJ)
Andrew Proctor (AP)
Jeanette Wheeler (JW)
C-J Green (CJG)
In attendance:
Charley Purves (CP)
Apologies:
None
Actions from the meeting:
1. Andrew Proctor to introduce a potential mentor to C-J Green.
2. C-J Green and Charley Purves to update the Terms of Reference to expand the scope of
the committee.
MINUTES ACTIONS
1. Minutes of the last meeting (06.04.20)
1. Doug Field to follow up on career coaching with Chris Starkie.
2. Charley Purves provided pay rise benchmark data within the minutes of
the meeting.
3. Charley Purves to arrange 360-degree review for CEO. This was not
completed due to the current climate. However, plans are in place to
complete this in October 2021.
AP confirmed that the public sector pay rise for 2020 was 2.75%.
The committee agreed the minutes were a true reflection of the meeting 6th
April 2020.
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2. Matters arising
CJG updated the meeting on the confidential items and actions from the last
meeting
3. Progress of CEO objectives - CONFIDENTIAL
4. Pay Review for CEO - CONFIDENTIAL
5. Gender Pay Gap Report – CONFIDENTIAL
The committee agreed the Gender Pay Gap Report for MJ to sign and CP to
report to government.
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6. Review Terms of Reference
The committee reviewed the Terms of Reference and queried whether the
LEP Board require a performance related pay system. It was felt that
standard pay rises provide no incentive for employees. JW explained that the
LEP employees take on a risk as there is no security of tenure given that
funding is uncertain. CJG would be reluctant for the LEP to introduce a
performance related pay rise as these are often difficult to assess and often
have no real value. However, a small bonus provision for exceptional
performance may be considered.
MJ queried whether there should be objectives to incentivise performance for
the CEO. CJG explained that it would be disjointed for there to be a %
increase different from the rest of the LEP.
It was agreed that the committee terms of reference should be broadened to
encompass both the CEO and COO roles. CJG explained that she would
expect the CEO to attend the Remuneration Committee to set out any
proposed pay increase for the rest of the LEP.
CJG / CP
7. Any other business
None.
Next meeting – February 2022 – TBC
NEW ANGLIA LEP
TERMS OF REFERENCE – REMUNERATION COMMITTEE
Page1of3
Aims and objectives
•
There should be a formal and transparent procedure for developing policy
on executive remuneration.
1.
Membership
1.1.
The Board shall appoint an Independent Committee Chair, who shall
serve for maximum five-year term.
1.2.
The Committee shall be made up of at least three members, including
the Independent Committee Chair. No Board Member who is an
employee of the LEP or who has left the LEP’s employment within three
years, or a spouse or partner of such employee, shall serve
on the
Committee.
1.3.
Two members of the Committee shall be appointed by and from the
members of the New Anglia LEP Board.
1.4.
The Committee is authorised to co-opt the Chair of the LEP as a
Committee Member (if not already appointed) for the purposes of
facilitating the annual performance review process in respect of the
Chief Executive Officer.
1.5.
Only members of the Remuneration Committee have the right to attend
Remuneration Committee meetings. However, other individuals and
external advisers may be invited to attend for all or part of any meeting
as and when appropriate.
1.6.
Appointments to the Committee shall be reviewed annually by the
Board.
2.
Quorum
2.1.
The quorum necessary for the transaction of business shall be 3. A duly
convened meeting of the Committee at which a quorum is present shall
be competent to exercise all or any of the authorities, powers and
discretions vested in or exercisable by the committee.
3.
Meetings
3.1.
The Committee shall meet at least once a year and at such other times
as the chair of the Committee shall require.
NEW ANGLIA LEP
TERMS OF REFERENCE – REMUNERATION COMMITTEE
Page2of3
3.2.
Unless otherwise agreed, notice of each meeting confirming the venue,
time and date together with an agenda of items to be discussed, shall be
forwarded to each member of the committee, any other person required
to attend no later than one week before the date of the meeting.
Supporting papers shall be sent to committee members and to other
attendees as appropriate, at the same time.
4.
Minutes of Meetings
4.1.
Minutes of Committee meetings shall be circulated promptly to the Chair
and, once agreed, to all members of the Board.
5.
Duties
The Committee shall:
5.1.
Determine and agree with the Board the framework or broad policy for
the remuneration of the executive team, as it is designated to consider.
5.2.
In determining such policy, take into account all factors which it deems
necessary. The objective of such policy shall be to ensure that members
of the executive team are provided with appropriate incentives to
encourage enhanced performance and are, in a fair and responsible
manner, rewarded for their individual contributions to the success of the
LEP.
5.3.
Approve the design of, and determine targets for, any performance
related pay schemes operated by the LEP and approve the total annual
payments made under such schemes.
5.4.
Ensure that contractual terms on termination, and any payments made,
are fair to the individual, and the LEP.
5.5.
Review the outcomes of the performance review process in respect of
the Chief Executive Officer and any other executives appointed from
time to
time.
5.6.
Within the terms of the agreed policy make recommendations to take to
the Board regarding the total individual remuneration package of the
Chief Executive Officer and any other senior executive officers or
employees
who may be appointed from time to time, including bonuses
and
incentive payments.
5.7.
In determining such packages and arrangements, give due regard to any
relevant legal requirements;
5.8.
Review and note annually the remuneration trends across the public and
private sectors.
NEW ANGLIA LEP
TERMS OF REFERENCE – REMUNERATION COMMITTEE
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5.9.
Oversee any significant changes in employee benefits structures
throughout the LEP.
5.10.
Be exclusively responsible for establishing the selection criteria,
selecting, appointing and setting the terms of reference for any
remuneration consultants who advise the Committee and to obtain
reliable, up-to-date information about remuneration in other LEPs and
comparative businesses. The Committee shall have full authority to
commission any reports or surveys which it deems necessary to help it
fulfil its obligations within budgetary constraints.
6.
Reporting Responsibilities
6.1.
The Committee Chair shall report formally to the Board on its
proceedings after each meeting on all matters within its duties and
responsibilities.
6.2.
The Committee shall make whatever recommendations to the Board it
deems appropriate on any area within its remit where action or
improvement is needed.
7.
Other
7.1.
The Board shall, at least once a year, review the performance of the
Remuneration Committee, constitution and terms of reference to ensure
it is operating at maximum effectiveness.
8.
Authority
8.1.
The Committee is authorised by the Board to seek any information it
requires from any employee of the LEP, in order to perform its duties.
8.2.
In connection with its duties the Committee is authorised by the Board
to obtain, at the LEP’s expense, any outside legal or other professional
advice, within budgetary constraints.
April 2017
