Document:

Exhibit 4.2

 

 

Private and Confidential

DAVID CLEMENTI

DEACON HOUSE

 

ATHERTON DRIVE

 

WIMBLEDON
COMMON

 

SW19 5LB

 

 

5 SEPTEMBER 2002

 

 

Appointment as Chairman

 

I am delighted
that you will be joining Prudential.

 

I have set out
below a record of the terms of your appointment as a director and Chairman of
Prudential plc (the Company).  We have agreed that you will join the Board
of the Company on 1  December 2002.

 

Appointment

 

1.     Your appointment as director and Chairman, is subject to re-election
when appropriate by shareholders in general meeting.  The appointment may be terminated by either party giving to the
other not less than twelve months’ notice in writing. Your appointment will be
subject to the Company’s Articles of Association as amended from time to time.

 

Duties

 

2.     Your duties as Chairman (which will be consistent with your
position) will be assigned by the Board and will also include the duties set
out in the first attachment to this letter. 
You will act as Chairman of the Nomination Committee and whilst not a
member, will be invited to attend meetings of the Audit and Remuneration
Committees.

 

You will
devote such time to your duties as the Board reasonably considers necessary; we
would expect this to require at least three days a week and holidays should be
taken so as not to interfere with the proper performance of your duties.  A second attachment to this letter describes
the frequency of Board meetings and the opportunity for more informal meetings
amongst directors.  We would expect you
to facilitate and actively participate in these informal gatherings which we
consider to be a very important contribution to 

 

 

the effective
functioning of the Board.  Group
Secretarial will ensure that you have a timetable of relevant events agreed for
2002 and 2003.

 

Fees

 

3.     You will be entitled to a fee for your services as director and
Chairman of £420,000 per annum  (less
any necessary statutory deductions) which will be reviewed annually in
June.  This will be payable in arrears
by equal monthly instalments. You will not be eligible for participation in the
Company’s pension, bonus or share incentive schemes.

 

Expenses

 

4.     You will be reimbursed for all reasonable out of pocket expenses
necessarily incurred in carrying out your duties in accordance with the
Company’s reimbursement policies for directors.

 

Car and Office Facilities

 

5.     The use of a chauffeur driven car of a type appropriate to your
status will be made available to you.

 

6.     You will be provided with an office and secretary at the Company’s
head office because we expect this to be your principal place of work.

 

Pension and Life Assurance

 

7.     The Company will pay a monthly contribution, equal to 25% of your
monthly fee, for pension purposes. The Company will provide life assurance
cover of 4 times your annual fee.

 

Medical Cover

 

8.     The Company will arrange appropriate cover under the terms of its
medical insurance scheme (subject to the rules of that scheme from time to
time) to provide private health care for you, your wife and dependent children
under 21 years of age.  The Company
reserves the right to request you to undergo a medical examination as a
condition of providing cover.

 

Shareholding Requirement

 

9.     You will comply with any shareholding policies for directors adopted
by the Company from time to time.  Under
our Articles all directors are required to hold 2,500 Prudential shares to be
acquired (if necessary) within two months of joining the Board.

 

Other directorships and business interests

 

10.   It is recognised that you have other duties and business
interests.  You will notify the Board of
any conflict of interest which may arise between such other duties and
interests and your duties as Chairman.

 

11.   During your appointment you will obtain agreement from the Board
(which shall not be unreasonably withheld) prior to accepting any other
directorships.  

 

 

An additional
two directorships is likely to be acceptable (providing they do not interfere
with your commitments to the Company) although we would not expect you to hold
a position as Chairman of another public company or to take on an executive
role.

 

 

Code of conduct

 

12.   During the period of your appointment you will comply with the UK
Listing Authority’s Model Code for Securities Transactions by Directors of
Listed Companies, the Company’s code of conduct (a copy of which is enclosed)
and any internal rules, regulations and policies applicable to directors which
the Board may specify from time to time.

 

Directors & Officers liability

 

13.   In addition to the protections available under the Directors and
officers insurance policies maintained for the Group, in accordance with their
terms as amended from time to time, you will also be entitled to the benefit of
the formal policy for the protection of directors and employees (as described
in the attached letter) and to the letter of indemnity (also attached).

 

Confidentiality

 

14.   You will appreciate the need for the highest standards of
confidentiality.  You agree not to make
use of, divulge or communicate to any person or company (whether during the
course of the appointment or at any time after its termination), any
confidential information concerning the Company and any of its subsidiaries or
associated companies which you acquire by virtue of your position as a
director, except in the proper performance of your duties or with the prior
consent of the Board.

 

I should be
grateful if you would confirm your agreement to the above by signing and
returning to me the enclosed duplicate of this letter.

 

/s/  Roger Hurn

Sir Roger Hurn

For and on
behalf of Prudential plc

 

 

Encl.

 

I have read
and agree to the above terms regarding my appointment as a director and
Chairman of Prudential plc.

 

	
  /s/  David Clementi

  	
   

  	
     5.9.02

  	
   

  
	
  David
  Clementi

  	
   

  	
  DateExhibit 4.3

 

Mr L J H Becht

Reckitt Benckiser

103-105 Bath Road

Slough

SL1 3UH

 

22
January 2004

 

Dear Bart

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

This letter
supersedes your previous letter of appointment dated 15 May 2002.  The Board of Prudential plc (“the Company”)
appointed you as non-executive Director with effect from 9 May 2002.  I am writing to set out the revised terms of
your appointment.  It is agreed that
this is a contract for services and does not constitute a contract of
employment.

 

Appointment

 

Your
appointment was effective for an initial term of three years commencing with
your election by shareholders at the AGM in 2003.  The appointment may be terminated by and at the discretion of
either party upon six months’ written notice. 
Continuation of your appointment has been and continues to be contingent
on satisfactory performance and re-election at forthcoming AGMs.  Non-executive Directors are typically
expected to serve two three-year terms, although the Board may invite you to
serve for an additional period.

 

Time
Commitment

 

We would
continue to anticipate a time commitment of approximately twelve days per year
depending on the amount of time needed for preparation.  This includes attendance at Board meetings,
Remuneration Committee meetings, the AGM, one annual strategy away day and one
site visit per year.

 

Whilst we acknowledge that you have other commitments which may mean you
will not be able to attend all meetings of the Board, you have confirmed that
you believe that you will be able to allocate sufficient time to the Company’s
affairs to meet the demands of the role. 
The agreement of the Chairman should be sought
before accepting additional commitments that might impact on the time you are
able to devote to your role as a non-executive Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

•                  Provides entrepreneurial
leadership of the Company within a framework of prudent and effective controls
which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities
of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

 

In addition to
these requirements of all Directors, the role of the non-executive Director has
the following key elements:

 

•                  Strategy.  Non-executive Directors should
constructively challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive
Directors.  This business is mainly
conducted via the Remuneration Committee.

 

Fees
and expenses

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in
arrears.

 

£25,000 per
annum of your gross fees will continue to be deducted at source, in equal
quarterly instalments, and the net amount after tax and National Insurance (if
any) applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will continue
to take place on the last working day each Quarter.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the
holders of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

Shareholdings and dealing

 

The
qualification shares you purchased on your appointment must be held during the
tenure of your office, in accordance with Article 121 of the Articles of
Association of the Company.  Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you
are in office.

 

You continue
to be subject to Prudential’s Share Dealing Rules, full particulars of which
can be found on our intranet site, Affinity. 
These are updated as required to reflect changes in legislation and
regulations, and will provide you with the necessary guidance on the steps you
need to take and other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the
acquisition of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

 

Conflicts
of interests

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
potential conflicts of interest, these should be disclosed to the Chairman and
Company Secretary as soon as apparent, prior to accepting appointments.  In particular we would not wish our
Directors to serve on the boards of financial services competitors.

 

Confidentiality

 

All
information acquired during your appointment is confidential to the Company and
should not be released, either during your appointment or following termination
(by whatever means), to third parties without prior clearance from the
Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a
breach of these requirements without prior clearance from the Chairman or
Company Secretary.

 

Review
Process

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Directors,
officers and employees insurance

 

The Company
has Directors’ and Officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.  In addition, the Company
maintains a discretionary policy in respect of directors and senior employees
of the Group, principally to deal with the payment of expenses incurred in
defending any personal legal or regulatory liability arising out of the
performance of duties on behalf of the Group. 
This policy is reviewed regularly.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the
policy.  Details of the agreed procedure
under which Directors may obtain such independent advice can be found in the
Prudential Guidance Notes for Directors, which is updated and issued to all
Directors on a regular basis.

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

Enclosures:

 

Responsibility
of directors of financial institutions

Terms of
Reference of the Board, and of the Audit, Remuneration and Nomination Committees

Memorandum and
Articles of Association

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to continue to deduct all
relevant amounts from each quarterly fee payment due to me and to apply that
amount in the purchase of shares on my behalf as set out above.

 

3.               I confirm that by having accepted my appointment, I have been and
continue to be able to allocate sufficient time to meet the expectations of my
role.

 

 

	
  Signed:

  	
  /s/  LJH Becht

  	
   

  

 

 

Mrs B A
Macaskill

160 East 81st
Street

New York

NY 10028

USA

 

8
December 2003

 

 

Dear Bridget

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

This letter
supersedes your previous letter of appointment dated 5 August 2003.  The Board of Prudential plc (‘the Company”)
appointed you as non-executive Director with effect from 1
September 2003.  I am writing to
set out the revised terms of your appointment. 
It is agreed that this is a contract for services and does not constitute
a contract of employment.

 

Appointment

 

Your
appointment is effective for an initial term of three years commencing with
your election by shareholders at the AGM in 2004.  The appointment may be terminated by and at the discretion of
either party upon six months’ written notice. 
Continuation of your appointment has been and continues to be contingent
on satisfactory performance and re-election at forthcoming AGMs.  Non-executive Directors are typically
expected to serve two three-year terms, although the Board may invite you to
serve for an additional period.

 

Time
Commitment

 

We would
continue to anticipate a time commitment of approximately twelve days per year
depending on the amount of time needed for preparation.  This includes attendance at Board meetings,
Remuneration Committee meetings, the AGM, one annual strategy away day and one
site visit per year.

 

You have
already confirmed that you are able to allocate sufficient time to meet the
expectations of your role.  The
agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role
as a non-executive Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

•                  Provides
entrepreneurial leadership of the Company within a framework of prudent and
effective controls which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities
of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

 

In addition to
these requirements of all Directors, the role of the non-executive Director has
the following key elements:

 

•                  Strategy.  Non-executive Directors should
constructively challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive
Directors.  This business is mainly
conducted via the Remuneration Committee.

 

Fees
and expenses

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in
arrears.  If you become a member of the
Audit Committee, fees for membership are currently an additional £5,000 per
annum.

 

£25,000 per
annum of your gross fees will continue to be deducted at source, in equal
quarterly instalments, and the net amount after tax and National Insurance (if
any) applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will continue
to take place on the last working day each Quarter.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the
holders of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

Shareholdings and dealing

 

The
qualification shares you purchased on your appointment must be held during the
tenure of your office, in accordance with Article 121 of the Articles of
Association of the Company.  Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you
are in office.

 

You continue
to be subject to Prudential’s Share Dealing Rules, full particulars of which
can be found on our intranet site, Affinity. 
These are updated as required to reflect changes in legislation and regulations,
and will provide you with the necessary guidance on the steps you need to take
and other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the acquisition
of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

 

Conflicts
of interests

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
potential conflicts of interest, these should be disclosed to the Chairman and
Company Secretary as soon as apparent, prior to accepting appointments.  In particular we would not wish our
Directors to serve on the boards of financial services competitors.

 

Confidentiality

 

All information
acquired during your appointment is confidential to the Company and should not
be released, either during your appointment or following termination (by
whatever means), to third parties without prior clearance from the Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a
breach of these requirements without prior clearance from the Chairman or
Company Secretary.

 

Review
Process

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Directors,
officers and employees insurance

 

The Company
has Directors’ and Officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.  In addition, the Company
maintains a discretionary policy in respect of directors and senior employees
of the Group, principally to deal with the payment of expenses incurred in
defending any personal legal or regulatory liability arising out of the
performance of duties on behalf of the Group. 
This policy is reviewed regularly.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the
policy.  Details of the agreed procedure
under which Directors may obtain such independent advice can be found in the
Prudential Guidance Notes for Directors, which is updated and issued to all
Directors on a regular basis.

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

Enclosures:

 

Responsibility
of directors of financial institutions

Terms of
Reference of the Board, and of the Audit, Remuneration and Nomination
Committees

Memorandum and
Articles of Association

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to continue to deduct all
relevant amounts from each quarterly fee payment due to me and to apply that
amount in the purchase of shares on my behalf as set out above.

 

3.               I confirm that by having accepted my appointment, I have been and
continue to be able to allocate sufficient time to meet the expectations of my
role.

 

 

	
  Signed:

  	
  /s/ BA
  Macaskill

  	
   

  

 

 

Mr R G Mendoza

Integrated
Finance Limited

630 Fifth
Avenue, Suite 2750

New York,
NY10111

USA

 

8
December 2003

 

 

Dear Roberto

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

This letter
supersedes your previous letter of appointment dated 25 May 2000.  The Board of Prudential plc (‘the Company”)
appointed you as non-executive Director with effect from 25 May 2000.  I am writing to set out the revised terms of
your appointment.  It is agreed that
this is a contract for services and does not constitute a contract of
employment.

 

Appointment

 

Your
appointment was effective for an initial term of three years commencing with
your election by shareholders at the AGM in 2001.  The appointment may be terminated by and at the discretion of
either party upon six months’ written notice. 
Continuation of your appointment has been and continues to be contingent
on satisfactory performance and re-election at forthcoming AGMs.  Non-executive Directors are typically
expected to serve two three-year terms, although the Board may invite you to
serve for an additional period.

 

Time
Commitment

 

We would
continue to anticipate a time commitment of approximately twelve days per year
depending on the amount of time needed for preparation.  This includes attendance at Board meetings,
Remuneration Committee meetings, the AGM, one annual strategy away day and one
site visit per year.

 

You have
already confirmed that you are able to allocate sufficient time to meet the
expectations of your role.  The agreement
of the Chairman should be sought before accepting additional commitments that
might impact on the time you are able to devote to your role as a non-executive
Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

•                  Provides
entrepreneurial leadership of the Company within a framework of prudent and
effective controls which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities
of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

 

In addition to
these requirements of all Directors, the role of the non-executive Director has
the following key elements:

 

•                  Strategy.  Non-executive Directors should
constructively challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive
Directors.  This business is mainly
conducted via the Remuneration Committee.

 

Fees
and expenses

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in arrears.  The Chairman of the Remuneration Committee
receives additional fees, currently £ £20,000 per annum. If you become a member
of the Audit Committee, fees for membership are currently an additional £5,000
per annum.

 

£25,000 per
annum of your gross fees will continue to be deducted at source, in equal
quarterly instalments, and the net amount after tax and National Insurance (if
any) applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will continue
to take place on the last working day each Quarter.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the
holders of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

Shareholdings and dealing

 

The
qualification shares you purchased on your appointment must be held during the
tenure of your office, in accordance with Article 121 of the Articles of
Association of the Company.  Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you
are in office.

 

You continue
to be subject to Prudential’s Share Dealing Rules, full particulars of which
can be found on our intranet site, Affinity. 
These are updated as required to reflect changes in legislation and
regulations, and will provide you with the necessary guidance on the steps you
need to take and other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the
acquisition of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

 

Conflicts
of interests

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
potential conflicts of interest, these should be disclosed to the Chairman and
Company Secretary as soon as apparent, prior to accepting appointments.  In particular we would not wish our
Directors to serve on the boards of financial services competitors.

 

Confidentiality

 

All
information acquired during your appointment is confidential to the Company and
should not be released, either during your appointment or following termination
(by whatever means), to third parties without prior clearance from the
Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a
breach of these requirements without prior clearance from the Chairman or
Company Secretary.

 

Review
Process

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Directors,
officers and employees insurance

 

The Company
has Directors’ and Officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.  In addition, the Company
maintains a discretionary policy in respect of directors and senior employees
of the Group, principally to deal with the payment of expenses incurred in
defending any personal legal or regulatory liability arising out of the
performance of duties on behalf of the Group. 
This policy is reviewed regularly.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the policy.  Details of the agreed procedure under which
Directors may obtain such independent advice can be found in the Prudential
Guidance Notes for Directors, which is updated and issued to all Directors on a
regular basis.

 

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

Enclosures:

 

Responsibility
of directors of financial institutions

Terms of
Reference of the Board, and of the Audit, Remuneration and Nomination
Committees

Memorandum and
Articles of Association

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to continue to deduct all
relevant amounts from each quarterly fee payment due to me and to apply that
amount in the purchase of shares on my behalf as set out above.

 

3.               I confirm that by having accepted my appointment, I have been and
continue to be able to allocate sufficient time to meet the expectations of my
role.

 

 

	
  Signed:

  	
  /s/  RG Mendoza

  	
   

  

 

 

Ms K A
O’Donovan

3C Cintra Park

Upper Norwood

London

SE19 2LH

 

8
December 2003

 

 

Dear Kathleen

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

This letter
supersedes your previous letter of appointment dated 14 April 2003.  The Board of Prudential plc (“the Company”)
appointed you as non-executive Director with effect from the conclusion of the
AGM on 8 May 2003.  I am writing to set
out the revised terms of your appointment. 
It is agreed that this is a contract for services and does not
constitute a contract of employment.

 

Appointment

 

Your
appointment is effective for an initial term of three years commencing with
your election by shareholders at the AGM in 2004.  The appointment may be terminated by and at the discretion of
either party upon six months’ written notice. 
Continuation of your appointment has been and continues to be contingent
on satisfactory performance and re-election at forthcoming AGMs.  Non-executive Directors are typically
expected to serve two three-year terms, although the Board may invite you to
serve for an additional period.

 

Time
Commitment

 

We would
continue to anticipate a time commitment of approximately twelve days per year
depending on the amount of time needed for preparation.  This includes attendance at Board meetings,
Remuneration Committee meetings, the AGM, one annual strategy away day and one
site visit per year.

 

We schedule six
Audit Committee meetings a year and it would be reasonable to assume another
four or five days depending on the amount of time needed for preparation.

 

You have
already confirmed that you are able to allocate sufficient time to meet the
expectations of your role.  The
agreement of the Chairman should be sought before accepting additional
commitments that might impact on the time you are able to devote to your role
as a non-executive Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

•                  Provides
entrepreneurial leadership of the Company within a framework of prudent and
effective controls which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities of
Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

In addition to
these requirements of all Directors, the role of the non-executive Director has
the following key elements:

 

•                  Strategy.  Non-executive Directors should
constructively challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive
Directors.  This business is mainly
conducted via the Remuneration Committee.

 

Fees
and expenses

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in
arrears.  Fees for Audit Committee
membership are currently an additional £5,000 per annum.

 

£25,000 per
annum of your gross fees will continue to be deducted at source, in equal
quarterly instalments, and the net amount after tax and National Insurance (if
any) applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will continue
to take place on the last working day each Quarter.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the
holders of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

Shareholdings and dealing

 

The
qualification shares you purchased on your appointment must be held during the
tenure of your office, in accordance with Article 121 of the Articles of
Association of the Company.  Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you
are in office.

 

You continue
to be subject to Prudential’s Share Dealing Rules, full particulars of which
can be found on our intranet site, Affinity. 
These are updated as required to reflect changes in legislation and
regulations, and will provide you with the necessary guidance on the steps you
need to take and other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the
acquisition of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

 

Conflicts
of interests

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
potential conflicts of interest, these should be disclosed to the Chairman and
Company Secretary as soon as apparent, prior to accepting appointments.  In particular we would not wish our
Directors to serve on the boards of financial services competitors.

 

Confidentiality

 

All
information acquired during your appointment is confidential to the Company and
should not be released, either during your appointment or following termination
(by whatever means), to third parties without prior clearance from the
Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a
breach of these requirements without prior clearance from the Chairman or
Company Secretary.

 

Review
Process

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Directors,
officers and employees insurance

 

The Company
has Directors’ and Officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.  In addition, the Company
maintains a discretionary policy in respect of directors and senior employees
of the Group, principally to deal with the payment of expenses incurred in
defending any personal legal or regulatory liability arising out of the
performance of duties on behalf of the Group. 
This policy is reviewed regularly.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the
policy.  Details of the agreed procedure
under which Directors may obtain such independent advice can be found in the
Prudential Guidance Notes for Directors, which is updated and issued to all
Directors on a regular basis.

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

Enclosures:

 

Responsibility
of directors of financial institutions

Terms of
Reference of the Board, and of the Audit, Remuneration and Nomination
Committees

Memorandum and
Articles of Association

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to continue to deduct all
relevant amounts from each quarterly fee payment due to me and to apply that
amount in the purchase of shares on my behalf as set out above.

 

3.               I confirm that by having accepted my appointment, I have been and
continue to be able to allocate sufficient time to meet the expectations of my
role.

 

 

	
  Signed:

  	
  /s/ K
  O'Donovan

  	
   

  

 

 

 

Mr J Ross

Flat 4

55 Onslow
Square

London

SW7 3LR

 

 

23
April 2004

 

Dear Mr Ross

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

The Board of
Prudential plc (the ‘Company’) has appointed you as non-executive Director and
a member of the Audit Committee with effect from the conclusion of the Annual
General Meeting on 6 May 2004.  I am
writing to set out the terms of your appointment.  It is agreed that this is a contract for services subject to the
Company’s Articles of Association as amended from time to time and does not
constitute a contract of employment.

 

Appointment

 

Your
appointment is subject to election by shareholders at the AGM in 2005.  Continuation of your appointment will be
contingent on satisfactory performance and re-election at forthcoming
AGMs.  Non-executive Directors are
typically expected to serve two three-year terms from the date of election by
shareholders, although the Board may invite you to serve for an additional
period.

 

The appointment
may be terminated by and at the discretion of either party upon six months’
written notice.  Upon termination you
will not be entitled to any compensation other than accrued pro-rata fees and
you shall also cease to be a member of any committee or sub-committee of the
Board.  All records, documents,
accounts, letters and papers of every description (including in particular
Board and Committee agendas and minutes) within your possession or control
relating to the affairs and business of the Group are and will remain the
property of the Company, and shall be returned to the Company.

 

Time
Commitment

 

We would
anticipate a time commitment of approximately twelve days per year depending on
the amount of time needed for preparation. 
This includes attendance at Board meetings, Remuneration Committee
meetings, the AGM, one annual strategy away day and one site visit per year. We
currently schedule six Audit Committee meetings a year and it would be
reasonable to assume another four or five days depending on the amount of time
needed for preparation.

 

Whilst we acknowledge that you have other commitments which may mean you
will not be able to attend all meetings of the Board and
relevant committees, you confirm by
accepting this appointment that you believe that you will be able to allocate
sufficient time to the Company’s affairs to meet the demands of the role.  The agreement of the Chairman should
be sought before accepting additional commitments that might impact on the time
you are able to devote to your role as a non-executive Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the Company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

 

•                  Provides
entrepreneurial leadership of the Company within a framework of prudent and
effective controls which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities
of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

In addition to
these general requirements of all Directors, the role of the non-executive
Director has the following key elements:

 

•                  Strategy.  Non-executive Directors should
constructively challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive
Directors.  This business is mainly
conducted via the Remuneration Committee.

 

Fees,
committee membership and expenses

 

We have Audit,
Remuneration and Nomination Committees of the Board.  All non-executive Directors are members of the Remuneration
Committee and normally one other committee.

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in
arrears.  Fees for Audit Committee
membership are currently an additional £5,000 per annum.  Fees are payable net of tax and national
insurance contributions which Prudential is required to deduct, and are
reviewed by the Board from time to time.

 

£25,000 per
annum of your gross fees will be deducted at source, in equal quarterly
instalments, and the net amount after tax and National Insurance (if any)
applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will take
place on the last working day each Quarter, commencing on 30 June.

 

As a
non-executive Director you are not entitled to participate in any of the
Group’s executive remuneration programmes or pension arrangements.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the holders
of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

 

Shareholding and dealing

 

I draw to your
attention Article 112 onwards of the enclosed Articles of Association of
the Company which deal with a number of matters relating to Directors.  Article 121 requires you to be a
beneficial owner of 2,500 Prudential shares and to retain them during the
tenure of your office.  The Articles
require that these shares be acquired within two months of your appointment if
you do not already have an interest in the required number of shares.

 

Similarly, the
shares purchased on your behalf each Quarter must also be held whilst you are
in office.

 

Further
information relating to Directors’ interests in the Group’s securities are
contained in the supplemental letter, which deals with some of the practical
aspects of your appointment.  During
your term in office you will be subject to Prudential’s Share Dealing Rules,
full particulars of which can be found on our intranet site, Affinity. These
are updated as required to reflect changes in legislation and regulations, and
will provide you with the necessary guidance on the steps you need to take and
other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the
acquisition of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

Conflicts
of interests and disclosure obligations

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
future potential conflicts of interest, these should be disclosed to the
Chairman and Company Secretary as soon as apparent, prior to accepting
appointments.  In particular we would
not wish our Directors to serve on the Boards of financial services
competitors.

 

The Company
has an obligation to record on its register of directors details of other
directorships which are or were held during the past five years by its
directors.  This information, together
with non-statutory offices, is also required to be disclosed to insurance
regulators in the US on an annual basis. 
Any changes in your external appointments, including non-statutory
offices, should be notified to the Company Secretary or Deputy Group Secretary
on an ongoing basis.

 

Confidentiality

 

All
information acquired during your appointment is confidential to the Company and
should not be released, either during your appointment or following termination
(by whatever means), to third parties without prior clearance from the
Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a breach
of these requirements without prior clearance from the Chairman or Company
Secretary.

 

Induction

 

Following your
appointment, the Company will provide a formal and tailored induction
programme, details of which are enclosed. 
This will include meetings with senior management and the Company’s
auditors.

 

 

Board
evaluation

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Professional development

 

As a director
you will be invited to appropriate educational and/or professional development
programmes, determined as part of the annual Board evaluation programme or by
the Board generally.

 

Directors
and officers protection

 

The Company
has directors’ and officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.

 

Part of this
cover applies by way of reimbursing the Company in respect of amounts paid by
way of indemnity to directors and officers. 
The Company has resolved to provide indemnity cover for directors’ and
officers’ liability within the limitations imposed by law, and within those
limitations, that protection is available to you.  The Company will also provide you with a limited indemnity for certain personal
liabilities you may suffer in the course of your appointment, subject to
applicable statutory and other limitations, pursuant to the Company’s
constitutional documents or otherwise.

 

In addition,
the Company maintains a discretionary payments policy (subject to regular
review), the existence of which directors (executive and non-executive) and
certain employees of members of the Prudential Group may rely on, to protect
them from personal liability arising out of the bona fide performance of their
duties on behalf of the Group.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the
policy.  Details of the agreed procedure
under which Directors may obtain such independent advice can be found in the
Prudential Guidance Notes for Directors, which is updated and issued to all
Directors on a regular basis.

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to deduct all relevant amounts
from each quarterly fee payment due to me and to apply that amount in the
purchase of shares on my behalf as set out above.

 

3.               I confirm that by accepting this appointment, I am able to allocate
sufficient time to meet the expectations of my role.

 

 

	
  Signed:

  	
  /s/  James H Ross

  	
   

  

 

 

Mr R O Rowley

The Old
Receiving Station

Green End

Dane End

Nr Ware

Herts

SG12 0NU

 

8
December 2003

 

 

Dear Rob

 

PRUDENTIAL
PLC - LETTER OF APPOINTMENT

 

This letter
supersedes your previous letter of appointment dated 9 July 1999.  The Board of Prudential plc (“the Company”)
appointed you as non-executive Director with effect from 8 July 1999.  I am writing to set out the revised terms of
your appointment.  It is agreed that
this is a contract for services and does not constitute a contract of
employment.

 

Appointment

 

Your
appointment was effective for an initial term of three years commencing with
your election by shareholders at the AGM in 2000.  The appointment may be terminated by and at the discretion of
either party upon six months’ written notice. 
Continuation of your appointment has been and continues to be contingent
on satisfactory performance and re-election at forthcoming AGMs.  Non-executive Directors are typically
expected to serve two three-year terms, although the Board may invite you to
serve for an additional period.

 

Time
Commitment

 

We would
continue to anticipate a time commitment of approximately twelve days per year
depending on the amount of time needed for preparation.  This includes attendance at Board meetings,
Remuneration Committee meetings, the AGM, one annual strategy away day and one
site visit per year.

 

We
schedule six Audit Committee meetings a year and it would be reasonable to
assume another four or five days depending on the amount of time needed for
preparation.

 

You have
already confirmed that you are able to allocate sufficient time to meet the
expectations of your role.  The agreement
of the Chairman should be sought before accepting additional commitments that
might impact on the time you are able to devote to your role as a non-executive
Director of the Company.

 

Role

 

Non-executive
Directors have the same general legal responsibilities to the company as any
other Director.  The Board as a whole is
collectively responsible for the success of the Company.  The Board:

 

•                  Provides
entrepreneurial leadership of the Company within a framework of prudent and
effective controls which enable risk to be assessed and managed;

 

•                  Sets the Company’s
strategic aims, ensures that the necessary financial and human resources are in
place for the company to meet its objectives, and reviews management
performance; and

 

•                  Sets the Company’s
values and standards and ensures that its obligations to its shareholders and
others are understood and met.

 

 

Directors of
any company must take decisions objectively in the interests of that
company.  A summary of responsibilities
of Directors of financial institutions under the Financial Services and Markets
Act 2000 is enclosed.

 

In addition to
these requirements of all Directors, the role of the non-executive Director has
the following key elements:

 

•                  Strategy.  Non-executive Directors should constructively
challenge and help develop proposals on strategy.

 

•                  Performance.  Non-executive Directors should scrutinise
the performance of management in meeting agreed goals and objectives and
monitor the reporting of performance. 
This is achieved both at the Board and on a more individual level
through the Remuneration Committee, of which all non-executive Directors are
members.

 

•                  Risk.  Non-executive Directors should satisfy
themselves on the integrity of financial information and that financial
controls and systems of risk management are robust and defensible.  This is achieved by escalating key issues to
the Board either directly or via the Audit Committee.  The Audit Committee itself reviews the activities of the Group
Risk Committee and the Disclosure Committee.

 

•                  People.  Non-executive Directors have a prime role in
appointing, and where necessary removing, executive Directors and in succession
planning.  In addition, they are
responsible for determining appropriate levels of remuneration for executive Directors.  This business is mainly conducted via the
Remuneration Committee.

 

Fees
and expenses

 

Non-executive
Directors’ fees are currently £50,000 per annum for Board and Remuneration
Committee membership accruing on a daily basis and payable quarterly in
arrears.

 

The Chairman
of the Audit Committee receives additional fees, currently £40,000 per annum.

 

£25,000 per
annum of your gross fees will continue to be deducted at source, in equal
quarterly instalments, and the net amount after tax and National Insurance (if
any) applied in the purchase of ordinary shares in Prudential plc on your
behalf.  This transaction will continue
to take place on the last working day each Quarter.

 

Directors are
entitled to claim for all travelling, hotel and other expenses properly
incurred by them in connection with their attendance at meetings of the Board
or Committees of the Board, general meetings or separate meetings of the
holders of any class of shares or of debentures of the Company or otherwise in
connection with the discharge of their duties. 
We would normally expect to meet non-executive Directors’ expenses for
long-distance travel and hotels where an overnight stay is necessary.  Expenses incurred should be submitted to the
Chairman’s office for approval.

 

Shareholdings and dealing

 

The
qualification shares you purchased on your appointment must be held during the
tenure of your office, in accordance with Article 121 of the Articles of
Association of the Company.  Similarly,
the shares purchased on your behalf each Quarter must also be held whilst you
are in office.

 

You continue
to be subject to Prudential’s Share Dealing Rules, full particulars of which
can be found on our intranet site, Affinity. 
These are updated as required to reflect changes in legislation and
regulations, and will provide you with the necessary guidance on the steps you
need to take and other considerations relating to share dealings.

 

If you have
any questions on this please consult with Group Secretarial.  The relevant announcement for the
acquisition of shares on your behalf at the end of each Quarter will be made
automatically.  Details of any other
dealings need to be notified to Group Secretarial on the day of dealing so that
the announcement can be made within the required time limit.

 

 

Conflicts
of interests

 

It is accepted
and acknowledged that you have business interests other than those of the
Company and have declared any conflicts that are apparent at present.  In the event that you become aware of any
potential conflicts of interest, these should be disclosed to the Chairman and
Company Secretary as soon as apparent, prior to accepting appointments.  In particular we would not wish our
Directors to serve on the boards of financial services competitors.

 

Confidentiality

 

All information
acquired during your appointment is confidential to the Company and should not
be released, either during your appointment or following termination (by
whatever means), to third parties without prior clearance from the Chairman.

 

Your attention
is also drawn to the requirements under both legislation and regulation as to
the disclosure of price sensitive information. 
Consequently you should avoid making any statements that might risk a
breach of these requirements without prior clearance from the Chairman or
Company Secretary.

 

Review
Process

 

The
performance of individual Directors and the whole Board and its Committees is
evaluated annually.  If, in the interim,
there are any matters which cause you concern about your role you should
discuss them with the Chairman as soon as is appropriate.

 

Directors,
officers and employees insurance

 

The Company
has Directors’ and Officers’ liability insurance and it is intended to maintain
such cover for the full term of your appointment.  A brief summary of the cover may be obtained from Group
Secretarial.  In addition, the Company
maintains a discretionary policy in respect of directors and senior employees
of the Group, principally to deal with the payment of expenses incurred in
defending any personal legal or regulatory liability arising out of the
performance of duties on behalf of the Group. 
This policy is reviewed regularly.

 

Independent
Professional Advice

 

Occasions may
arise when you consider that you need professional advice in the furtherance of
your duties as a Director. 
Circumstances may occur when it will be appropriate for you to seek
advice from independent advisors at the Company’s expense.  This would normally be arranged through the
Company Secretary.  The Company will
reimburse the full cost of expenditure incurred in accordance with the
policy.  Details of the agreed procedure
under which Directors may obtain such independent advice can be found in the
Prudential Guidance Notes for Directors, which is updated and issued to all
Directors on a regular basis.

 

Yours
sincerely

 

/s/  Peter Maynard

 

Peter Maynard

Group Legal
Services Director

 

Enclosures:

 

Responsibility
of directors of financial institutions

Terms of
Reference of the Board, and of the Audit, Remuneration and Nomination Committees

Memorandum and
Articles of Association

 

 

Acknowledgement:

 

1.               I acknowledge that this appointment letter does not constitute a
contract of employment.

 

2.               I irrevocably instruct Prudential plc to continue to deduct all
relevant amounts from each quarterly fee payment due to me and to apply that
amount in the purchase of shares on my behalf as set out above.

 

3.               I confirm that by having accepted my appointment, I have been and
continue to be able to allocate sufficient time to meet the expectations of my
role.

 

 

	
  Signed:

  	
  /s/ RO
  Rowley

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00066-of-00352.parquet"}]]