John Woodward's remuneration for the financial year 2008/09
The employment contract for John Woodward, the Chief Executive Officer of the UK Film Council, was renewed in 2008 for a further period of two years to run from 1 November 2008 at an annual salary of £170,171. The contract includes a six-month notice period and an option in favour of the UK Film Council to extend the contract period for a further year, such option to be exercisable by no later than 30 April 2010.
The contract also allows for the following:
(a) A contribution by the UK Film Council to a private pension equal to 16% of annual salary.
(b) A non-pensionable annual performance bonus (of up to 20% of annual salary) from which up to 5% of annual salary can be commuted by John Woodward to increase his salary for the following year of employment instead of being paid as part of his performance bonus.
(c) A non-pensionable loyalty bonus (of 12.5% of annual salary) in each year of the contract but payment for the two years of employment to 31 October 2010 is conditional upon John Woodward remaining in the UK Film Council's employment until this date. If the UK Film Council exercises its option to extend the contract of employment for a third year then payment of the loyalty bonus for such third year is conditional upon John Woodward remaining in the UK Film Council's employment until 31 October 2011.
(d) The UK Film Council staff benefits of an interest free season ticket loan, subsidised membership of a Health Club up to £100 per annum, a cinema ticket allowance of up to £250 per annum and subsidised child care up to £40 per child per week.
John Woodward's remuneration for the financial year 2008/09 was as follows:
Salary for the year ended 31 March 2009 | £ 165,444 |
Bonus | £ 32,498 |
Pension | £ 26,472 |
