Mr. Chris McCarthy:

It is a market-based model. It comes within a bell curve effectively. There is the bulk of the population receiving the mid point - maybe 70% - with some exceeding the mid point, probably 20% on average, and 10% coming below. That is the normalised distribution. We come close enough within that curve. We are slightly less on the number exceeding and also slightly less on the level of underperformance.

Going back to Mr. Gleeson’s point, objectives are set at the start of the year based on balanced score cards and on our goals for the year. Those objectives are set with a staff member’s line manager and are reviewed regularly but very formally on a half-year basis and again at year end. At that point, the individual rating is assigned.