Directors' Remuneration Report
(CON TINUE D)
Aggr egate Dir ectors' Remunerati on
Directors' Emoluments in US$
Year Salary and Fees¹ Benefits¹ Bonus1,5 Total
Executives:
R.D. Armstrong 2010 $ 511,236 $13,083 $ - $ 524,319
2009 328,500 25,766 91,000 445,266
K.E. Bigsby 2010 159,000 - - 159,000
2009 238,500 - 33,000 271,500
Chairman6
G.N. Vernon² 2010 16,550 - - 16,550
2009 77,102 - - 77,102
Executive Chairman6
A.J. Reade4 2010 331,763 10,896 256,383 599,042
2009 56,230 - - 56,230
Non-executive
B.M. Riley 2010 57,455 - - 57,455
2009 55,915 - - 55,915
K.D. Noonan³ 2010 33,651 - - 33,651
2009 51,901 - - 51,901
P. Regan 2010 - - - -
2009 - - - -
J. Hills 2010 26,442 - - 26,442
2009 - - - -
Total 2010 $1,136,097 $23,979 $ 256,383 $ 1,416,459
2009 $ 808,148 $ 25,766 $ 124,000 $ 957,914
(1) Remuneration amounts are for the 2010 and 2009 period served
(2) Includes beneficial payments to Ziggus Holding Ltd
(3) Includes beneficial payments to T. K. Advisory Ltd
(4) Includes beneficial payments to Global Strategy Expression Ltd
(5) Bonuses were paid in 2009, 2010, and 2011
(6) Payments made in pounds Sterling, at exchange rates to the US Dollar ranging from 1.45 to 1.66 in 2010
The benefits in kind represent contributions to medical insurance
schemes, life insurance and the 401(k) pension plan. The
share based payment charge for Directors' founder shares
and share options were US $345,117 (2009: US $1,876,114).
These amounts have been included within administrative
costs. The total Directors' compensation is US $1,761,576
(2009: US $2,834,028).
Dir ectors' Pension Arr angements
The Executive Directors can participate in the Group's 401(k)
plan and the Group will match any contributions into the plan
up to 4% of salary not to exceed US $9,200 in 2010 with a tax
deferral limit of US $16,500 and additional tax deferral provisions
for employees over 50 years old.
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