Annual opportunity
Performance
Up to a maximum of 200% of salary.
As a percentage of maximum the following amounts are potentially
payable for the corresponding levels of performance (straight-line
between points):
Threshold (minimum):
0%
Target:
50%
Maximum:
100%
In 2015 the performance measures will be Group PBT (40%), Group
organic revenue growth (20%), cash conversion (20%), strategic and
personal objectives (20%) and a health and safety underpin. Divisional
operating profit and organic revenue growth will replace Group organic
revenue for Divisional roles with weightings adjusted accordingly.
Payment depends on performance relative to pre-determined
measures and targets over the course of a financial year.
The Committee determines the measures and targets annually to
ensure alignment with strategy. Normally these will be a combination of
measures linked to the financial and non-financial performance of IMI.
Normal award: Up to 250% of salary
Maximum award: 400% of salary (to be used in exceptional circumstances
only e.g. upon recruitment)
If an award above the normal maximum is made, full details will be provided
in the following year’s Annual Remuneration Report.
As a percentage of the award the following amounts are payable for the
corresponding levels of performance (straight-line between points):
Threshold (minimum):
25%
Maximum:
100%
In 2015 the performance measures will be Group PBT growth
(50%), ROCE (25%) and relative TSR (25%).
The release of shares will depend on performance relative to
pre-determined measures and targets over three consecutive
financial years.
The Committee will determine targets and ranges in respect of
each award when made.
63
Strategic Review
Performance Review
Corporate Governance
Financial Statements
Introduction
Annual Report and Accounts 2014
