21  DIRECTORS' REMUNERATION AND EXPENSES

21.1  Subject to Article 21.2, no director shall be entitled to any remuneration, whether in respect of his/her office, or as holder of any office under the Company.

21.2  The B Director shall be entitled to be paid remuneration of £12,000 (index linked) in respect of his office as a director of the Company and shall be entitled to be paid reasonable additional remuneration for the work associated with any refinancing carried out in pursuance of Article 18 (to be met from any Refinancing Gain) and for any other additional work in carrying out his/her role as B Director which is substantially in excess of that associated with the performance of his normal duties.

21.3  The directors may be paid travelling and other expenses properly incurred by them in connection with their attendance at meetings of directors, general meetings, meetings of committees of directors or otherwise in connection with the carrying out of their duties.