Document:

exv4w21

 

Exhibit 4.21

 

 

Exhibit 4.21

	 	 	 
	Lawrence Dickinson

Group Secretary

25 August 2004

Sir A Likierman

Detail Omitted

	 	 
54 Lombard Street

London

EC3P 3AH

Tel 020 7699 2454

Fax 020 7699 3690

lawrence.dickinson@barclays.co.uk

Dear Sir Andrew

I am writing to you about your appointment as a Director of Barclays PLC and Barclays Bank PLC
with effect from 1 September 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 fee 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 PLS. 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.	 	Committees

As you know, you will serve as a member of the Board Audit Committee from 1 September 2004 onwards.
The fee payable will be £15,000 per annum, wholly paid in cash. It is expected that the Board Audit
Committee will meet at least four times a year. The planned meetings for the remainder of 2004 and
for 2005 are set out at Tab 2 of Part B of the enclosed Appointment Pack.

- 2 -

 

	6.	 	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 31 October
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.

	7.	 	Induction and support

An induction programme has already been arranged for you. Ongoing training and briefings on
particular topics are 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 may be
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.

	8.	 	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.

	9.	 	Top 20 shareholders

We are offering our top 20 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:

	 		 	(Sir Andrew Likierman)
	 	 	 	 	 
	Date:

	 	30.8.04 	 	 
	 	 	 	 	 

- 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 Croup’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.exv4w22

 

Exhibit 4.22

 

 

Exhibit 4.22

	 	 	 
	Howard Trust

Group General Counsel

and Group Secretary
 

24
October 2000

Sir Brian Jenkins

Detail Omitted
	 	54 Lombard Street

London

EC3P 3AH

Tel 020 7699 2953

Fax 020 7699 3414

howard.trust@barclays.co.uk
	 	 	

Dear Sir Brian,

I am writing to you formally to confirm your appointment as a Non-Executive Director and Deputy
Chairman of Barclays PLC and Barclays Bank PLC. These appointments are conditional and will only
become effective upon completion of the acquisition of Woolwich PLC which is expected to be on or
about 25 or 26 October 2000.

	1.	 	Fees
	 
	 	 	As Deputy Chairman you will receive a fee of £100,000 per annum, payable monthly in arrears by
direct credit into your nominated bank account. You will be expected to devote not less than 2
days each week to the business of the Barclays Group (including attendance at Board, Board
committee or subsidiary board meetings, including Woolwich of which you will continue as a
Director, as required). I attach a brief role description for this position. 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. £7,500 (net of tax) of this fee will be received
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.
	 
	2.	 	Benefits
	 
	 	 	You will be provided with an office and secretarial support to assist you in carrying out this
role. For the time being, the arrangements currently in place at The Strand will be retained. We
will also make a chauffeur driven car available to you for the conduct of Group business.
	 
	3.	 	Terms of Your Appointment
	 
	 	 	Your appointments as a Non-Executive Director and Deputy Chairman have been made by the Board to
be effective when the acquisition of Woolwich is completed. Your initial term would be for up to
five years. On the fifth anniversary of your appointment we would agree with you whether it was

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

 

 

Sir Brian Jenkins

Woolwich PLC

24 October 2000

	 	 	appropriate for you to continue for up to another five years. All Non-Executive Directors
have an annual review with the Chairman.
	 
	 	 	As your appointments have been made by the Board rather than the shareholders in general meeting
you are required, under the Companies Act, to seek re-election at our 2001 Annual General
Meeting. As with all Directors you will then be required to seek re-election by rotation
approximately every three years.
	 
	 	 	Your appointments as a Non-Executive Director and a Deputy Chairman 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
	 
	 	 	I understand from Sir Peter Middleton that he has invited you to serve as a member of the
Remuneration and Nominations Committees. No additional fees will be paid for these appointments.
	 
	5.	 	Directors Share Qualification
	 
	 	 	You should also be aware that under our Articles of Association you would be required to hold
500 Barclays shares within two months of your appointment. Obviously your Woolwich shares will
be exchanged for Barclays shares but if you would like any assistance in acquiring the remainder
needed please speak to my deputy, Alison Dillon on 020 7699 2454.
	 
	6.	 	Administration
	 
	 	 	Folder ‘Forms for Directors’ contains various forms and questionnaires which we have completed
with the help of Chris Fletcher-Smith of Woolwich. I would be grateful if you would review
them, sign them where indicated and return them to Alison Dillon.
	 
	 	 	If you need any assistance in completing these forms please give Alison a call and she will
be happy to help.
	 
	 	 	Please could you also provide three copies of a recent photograph, size 6” x 4”.
	 
	7.	 	Induction
	 
	 	 	Enclosed with this letter is a ‘Directors Information’ pack. If you would like any further
information or would find it helpful, to gain an early understanding of the structure and
business of the Barclays Group, to meet some of the key members of our senior management team
then please contact Alison Dillon and she will make the necessary arrangements.

- 2 -

 

Sir Brian Jenkins

Woolwich PLC

24 October 2000

	 	 	Also enclosed is a copy of our Group Governance Manual which describes the flow of authority
from the Boards of Barclays PLC and Barclays Bank PLC to the Business Groupings and explains
how the Group is controlled. The next update of the Manual, taking into account Valued Based
Management and the integration of the Woolwich business is planned for the end of this year.

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.

Yours sincerely

Encs

	 	 	 	 	 
	Signed:

	 	 	 	 
	 	 	 	 	 
	 
	 	SIR BRIAN JENKINS	 	 
	Date:

	 	 	 	 
	 	 	 	 	 

- 3 -

 

The Role of a Deputy Chairman

At the request of the Chairman, or in his absence the Group Chief Executive, the Deputy
Chairman deputises for the Chairman in respect of the authorities and responsibilities confirmed or
delegated by the Board. He will also serve on such committees and such subsidiary boards as
requested by the Chairman. He reports in the execution of his responsibilities to the Chairman.

 

Group Corporate Secretariat

October 2000

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