Standard Life Assurance Company Act 1991

Additional remuneration and expenses

44 Each director may be paid his reasonable travelling, hotel and incidental expenses for attending and returning from meetings of directors or committees of directors or general meetings and shall be paid all expenses properly and reasonably incurred by him in the context of the Company’s business or in the discharge of his duties as a director. Any director who, by request, goes or resides abroad for any purposes of the Company or who performs services which in the opinion of the directors go beyond the ordinary duties of a director may be paid such extra remuneration (whether by way of salary, commission, participation in profits or otherwise) as the directors may determine, and such extra remuneration shall be in addition to any remuneration provided for by or pursuant to any other regulation.