Document:

exv4w19

 

Exhibit 4.19

 

 

Exhibit 4.19

	 	 	 
	

	 	Group Corporate Secretariat

54 Lombard Street

London
EC3P 3AH

	 
	 	 
	26 July 2002

Dr Jurgen Zech

Detail Omitted
	 	Tel +44 (0) 20 7699 5000

Fax +44 (0) 870 242 2733

patrick.gonsalves@barclays.co.uk

Dear Dr Zech

I am writing to you with respect to your appointment as a Director of Barclays PLC and
Barclays Bank PLC and also to provide you with some further information which you will need
once your appointment has been confirmed on 30 July 2002.

	1.	 	Announcement
	 
	 	 	I enclose a copy of the draft London Stock Exchange announcement which we will issue
following your agreement and the confirmation of your appointment on 30 July 2002. I also
enclose some questions that may be asked by the press and suggested answers that have been
prepared by our Public Relations Department and I would be grateful for your comments. If
you have any questions about the announcement, please contact me or Chris Tucker in our
Public Relations Department (020 7699 3161).
	 
	2.	 	Fees
	 
	 	 	As a Non-Executive Director you will receive a fee of £50,000 per annum, payable monthly in
arrears by direct credit into your nominated bank account. In the event that you hold
office for part of the year the fees shall be pro-rated accordingly on the basis of one
twelfth for each complete or part month served. £20,000 of this fee will be paid in the
form of Barclays PLC shares. You will see that in the folder entitled ‘Forms for
Directors’ there is an agreement setting out details in respect of this remuneration in
Barclays PLC shares which you are asked to sign and return. Any reasonable out of pocket
expenses that you incur in performing your duties as a Director will be reimbursed in
accordance with our expenses policy.
	 
	3.	 	Terms of Your Appointment
	 
	 	 	Your appointment as a Non-Executive Director has been made by the Board rather than the
shareholders in general meeting. In consequence, you are required, under the Companies Act
1985 to seek re-election at the Barclays Annual General Meeting in April 2003. As with all
the directors you will then be required to seek re-election by rotation every three years.

Barclays PLC. Registered in
England. Registered No: 48839. Registered Office: 54 Lombard
Street. London EC3P 3AH

 

 

	 	 	Your initial term will be for up to five years. On or before the fifth anniversary of your
appointment we will agree with you whether it is appropriate for you to continue for up to
another five years. All Non-Executive Directors have an annual review with the Chairman.
	 
	 	 	Your appointment as a Non-Executive Director may be terminated by us on six months notice (or
immediately on payment of six months fees in lieu of notice) but would automatically terminate
without any entitlement to notice or payment should you not be re-elected by Barclays PLC
shareholders and/or should you be removed or, other than at our request, resign as a Director.
Should you wish to resign your appointment you are required to give us not less than six months
notice.
	 
	4.	 	Committees
	 
	 	 	The Chairman may invite you in due course to serve as a member of one or more of the Board
Committees. Additional fees will be paid for membership and attendance at these meetings
and I enclose a schedule of the fee structure currently in operation.
	 
	5.	 	Directors Share Qualification
	 
	 	 	Under our Articles of Association, you will be required to hold £500 in nominal value of
Barclays shares within two months of your appointment. If you would like any assistance in
buying these shares please speak to me. As a Director you will not be able to do this until
after we have announced our interim results on 1 August 2002.
	 
	6.	 	Administration
	 
	 	 	The ‘Forms for Directors’ folder contains various forms and questionnaires. I would be grateful
if you would complete and sign them where indicated and return them
to me.
	 
	 	 	If you need any assistance in completing these forms please give me a call and I will be happy
to help.
	 
	 	 	Please could you also provide three copies of a recent photograph, size 6” x 4”.
	 
	7.	 	Induction
	 
	 	 	As part of the induction of new Non-Executive Directors we would encourage you to meet some of
the key members of our senior management team. Other Directors have found this a good way of
gaining an early understanding of the structure and business of the
Barclays Group. If you
would find this helpful please contact me and I will make the necessary arrangements.
	 
	 	 	Also enclosed is a copy of our Group Governance Manual on CD ROM which describes the flow of
authority from the Boards of Barclays PLC and Barclays Bank PLC to the Businesses and explains
how the Group is controlled.

- 2 -

 

Copies of the 2001 Annual Report and the 2001 Annual Review and Summary Financial Statement are
also enclosed for your information.

I would be grateful if you would confirm receipt of this letter, and your acceptance of the
conditional appointment as set out, by signing and returning the enclosed copy.

I am available at any time to provide any support and information you may
need.

Kind regards

Yours sincerely

Patrick Gonsalves

Deputy Group Secretary

Direct Line: +44 (0) 20 7699 3512

Enc.

	 	 	 	 	 
	Signed:

	 	 	 	 
	 	 	 	 	 
	 
	 	DR JURGEN ZECH	 	 
	Date:

	 	 	 	 
	 	 	 	 	 

- 3 -exv4w20

 

Exhibit 4.20

 

 

Exhibit 4.20

	 	 	 
	Lawrence Dickinson

Group Secretary

30 September 2004

Mr Leigh Clifford

Detail Omitted
	 	 
54 Lombard Street

London

EC3P 3AH

Tel 020 7699 2454

Fax 020 7699 3690

lawrence.dickinson@barclays.co.uk

Dear Leigh

I am writing to you about your appointment as a Director of Barclays PLC and Barclays Bank PLC
with effect from 1 October 2004.

	1.	 	Fees

As a Non-Executive Director you will receive a fee of £50,000 per annum, payable monthly in
arrears by direct credit into your nominated bank account. In the event that you hold office
for part of the year the fees shall be pro-rated accordingly on the basis of one twelfth for
each complete or part month served. £20,000 of this fee, after tax and national insurance, will
be used to purchase Barclays PLC shares twice per year, in February and August. These shares
will be held on your behalf until you leave the Board. Any reasonable out of pocket expenses
that you incur in performing your duties as a Director (travelling expenses in attending Board
meetings etc) will be reimbursed in accordance with our standard expenses policy. The Board
(with the Non-Executive Directors abstaining) reviews the level of fees paid to Non-Executive
Directors annually.

	2.	 	Terms of Your Appointment

The Directors, rather than the shareholders in general meeting, have appointed you to the
Boards of Barclays PLC and Barclays Bank PLC. As a consequence, you are required to seek
re-election at the Barclays PLC Annual General Meeting on 28 April 2005. As with all of the
directors, you will then normally be required to seek re-election at least every three years.

Your initial term of office will be for up to six years. On or before the sixth anniversary of
your appointment we will agree with you whether it is appropriate for you to continue for up
to another three years. In addition, you will also have an annual review with the Chairman of
your performance as a non-executive director. The Board has also adopted a formal system of
self-evaluation, which is carried out on an annual basis.

Your appointment as a Non-Executive Director may be terminated by us on six months notice (or
immediately on payment of six months fees in lieu of notice) but would automatically terminate
without any entitlement to notice or payment if the Barclays PLC shareholders do not re-elect
you whenever you

 

Barclays PLC Registered in England. Registered No: 48839. Registered Office: 54 Lombard Street.
London EC3P 3AH

 

 

stand for re-election and/or if you are removed from office by the shareholders. The Board shall
also reserve the right to reconsider your appointment as a Director and therefore to terminate your
appointment forthwith should there be any material change to your personal circumstances that the
Board believes may affect your appointment as a Director of Barclays
PLC and Barclays Bank PLC. A
material change shall include, but not be limited to, the following:

	•	 	Where you resign, retire or are removed from office from any of your other external
appointments (including, but not limited to, any other directorships).
	 
	•	 	Where you are appointed to any other company, corporate body or other entity (internal or
external), which has not been agreed in advance with the Chairman.
	 
	•	 	Where an incident occurs, which the Board considers could adversely affect the reputation
of the Group.

Where such a material change occurs, you must inform the Chairman as soon as possible.

Should you wish to resign your appointment, you are required to give us not less than six months
notice.

	3.	 	Role

Attached to this letter is a role profile for non-executive directors, which has been agreed by the
Board. The Board may change this role profile from time to time and the role profile as amended
shall, once notified to you, be deemed to form part of this letter in place of the document
attached.

	4.	 	Time Commitment

The Board normally meets formally 10 times a year, including a full day strategy session in
November, and will otherwise meet on an ad-hoc basis as required. Directors are also expected to
attend the Barclays AGM, which is held at the end of April each year, and be available afterwards
to meet with and answer the questions of shareholders.

Directors are expected to attend each meeting of the Board, including those called on an ad-hoc
basis to discuss urgent matters, and to set aside sufficient time to consider the papers in respect
of those meetings which are normally sent to Directors in the week prior to the meeting. On
average, we would expect Board matters to take approximately 20-25 working days of your time per
annum, not including any membership of Board Committees.

	5.	 	Directors Share Qualification

Under our Articles of Association, you will be required to hold £500 in nominal value (2,000
ordinary shares of 25p each) of Barclays shares within two months of your appointment (on or before
30 November 2004). If you would like any assistance in buying these shares please speak to me. If
you already hold Barclays shares, please let me know as soon as possible so that we can update the
statutory register of Directors’ interests and make the necessary announcement under the UKLA’s
Listing Rules.

- 2 -

 

	6.	 	Induction and support

Your induction programme has recently started and will be continuing. Ongoing training and
briefings on particular topics will be made available at your request. The services of the Group
Secretary and the Group Corporate Secretariat are available to assist you with both day-to-day and
specific matters in your role as a director of Barclays. Also, should you feel that there maybe
implications for you personally in carrying out the duties of your directorship, you may seek
independent advice on any matter, at the Group’s expense.

	7.	 	Indemnity

I confirm that you can rely on the indemnity contained in Article 160 of Barclays’ Articles of
Association. In outline, the effect of that Article (as restricted by relevant statutory
provisions) is to provide an indemnity in respect of certain liabilities incurred by you in the
execution of your duties, provided that the liability does not arise by virtue of your negligence,
default, breach of duty or breach of trust in relation to the Bank. A copy of the indemnity wording
is attached to this letter. The indemnity is of course in addition to any other protection
available to you by virtue of provisions of statute, common law or indeed any specific contract.

	8.	 	Top 15 shareholders

We are offering our top 15 shareholders the opportunity to meet with you, in line with corporate
governance best practice as set out in the Combined Code. I will of course advise you if any
shareholders ask to take up this offer although I would not expect this based on previous
experience.

I should be grateful if you would confirm receipt of this letter, and your acceptance of the
conditional appointments as set out, by signing and returning the enclosed copy. I am available at
any time to provide any information you may need.

Yours sincerely

Lawrence Dickinson

Group Secretary

- 3 -

 

I agree to the terms and conditions of my appointment as set out in this letter.

	 	 	 	 	 
	Signed:

	 	 	 	(Leigh Clifford)
	 	 	 	 	 
	Date:

	 	 	 	 
	 	 	 	 	 

- 4 -

 

ROLE OF NON-EXECUTIVE DIRECTORS

The Board is responsible to shareholders for creating and delivering sustainable shareholder value
through the management of the Group’s business. It should therefore determine the objectives and
policies of the Group to deliver such long-term value, providing overall strategic direction within
a framework of rewards, incentives and controls. It is important that the Board strikes the
appropriate balance between promoting long-term growth and shorter-term interests.

A key area is the Board’s responsibility to maintain a system of internal control which provides
reasonable assurance of effective and efficient operations, internal financial control and
compliance with law and regulation. Regard must be had to what is
appropriate for the Group’s
businesses, the materiality of the financial risks inherent in the businesses and the relative
costs and benefits of implementing specific controls.

The Board is also the decision making body for all other matters of such importance as to be of
significance to the Group as a whole because of their financial or reputational implications or
consequences. To enable it to make decisions effectively, Board members must be advisers,
questioners and problem-solvers and must actively participate in a decision-making role to ensure
the overall success of the Group.

Non-executive Directors complement the skills and experience of the executive Board team and the
Executive Directors’ detailed knowledge of the business, generally being more involved in
formulating policies and taking high level decisions on the recommendation of the Executive
Directors. In particular, they add value by bringing to bear on an impartial basis a different
range of knowledge, experience and insight from other industries, including those which may conduct
related activities, provided that these do not lead to a conflict for the Directors concerned.
Non-executive Directors also have a role in monitoring that decisions conform to agreed policy.

Under English Law, Non-executive Directors share the same responsibilities and are subject to the
same legal constraints as Executive Directors. The key duties of Directors include:

	a)	 	at all times acting not only in good faith and honesty but also in the company’s best
interests and not for any ulterior purpose or to benefit themselves or others at the
company’s expense;
	b)	 	avoiding a conflict of interest between their personal interests and their duties to
the
company;
	c)	 	exercising reasonable skill and care in carrying out their duties commensurate with their
knowledge and experience;
	d)	 	having regard to the interests of employees; and
	e)	 	ensuring that the company does everything that is required of it by law and regulation e.g.
ensuring the preparation of accounts which give a true and fair view
of the state of affairs of the Group at the end of each financial year.

Directors of Barclays PLC and Barclays Bank PLC owe both fiduciary duties and also general duties
of skill and care to each of those companies as a whole. In fulfilling their responsibilities,
Directors may take independent professional advice at the expense of
the Group. This may be
arranged directly by the Directors but it is normally appropriate for independent advice to be
arranged in the first instance through the Group Secretary.

Non-executive Directors are also responsible for carrying out the controlled function of a
Non-executive Director as defined by the Financial Services and Markets Act 2000.

Group Corporate Secretariat

 

 

FORM OF INDEMNITY WORDING

(Extracted from Article 160 of the Barclays PLC Articles of Association)

Indemnity and insurance for directors and other officers

160 (a)

Subject to the provisions of the statutes, but without prejudice to any indemnity to which he or
she may otherwise be entitled, every director, other officer and auditor of the company and every
former director, other former officer and former auditor of the company shall be indemnified out of
the assets of the company against any liability, loss or expenditure incurred by him or
her in the actual or purported execution and/or discharge of his or her duties and/or the exercise
or purported exercise of his or her powers and/or otherwise in relation to or in connection with
his or her duties, powers or office including (without prejudice to the foregoing) any liability
incurred by him or her in defending any proceedings, whether civil or criminal, which relate to
anything done or omitted to be done or alleged to have been done or omitted to be done by him or
her as a director, officer or auditor of the company and in which judgment is given in his or her
favour or in which he or she is acquitted or which are otherwise disposed of without any finding or
admission of guilt or breach of duty on his or her part or incurred in connection with any
application in which relief is granted to him or her by the court from liability in respect of any
such act or omission or from liability to pay any amount in respect of shares acquired by a nominee
of the company.

(b)

To the extent permitted by the statutes, the board may arrange and maintain insurance cover at the
cost of the company in respect of any liability, loss or expenditure incurred by any director,
other officer or auditor of the company in relation to anything done or alleged to have been done
or omitted to be done by him or her as a director, officer or auditor.

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