Directors' Remuneration Report
(CONTINUED)
TYRATECH, INC. • ANNUAL REPORT 2011 • PAGE 26
AGGREGATE DIRECTORS' REMUNERATION
Directors' Emoluments in US$
Year Salary and fees1 Benefits1 Bonus1 Total
Executives:
R.D. Armstrong 2011 76,041 4,442 - 80,483
2010 511,236 13,083 - 524,319
K.E. Bigsby 2011 - - - -
2010 159,000 - - 159,000
Chairman5
G.N. Vernon2 2011 - - - -
2010 16,550 - - 16,550
Executive Chairman5
A.J. Reade4 2011 284,115 144,835 - 428,950
2010 230,764 111,895 256,383 599,042
Non-executive
B.M. Riley 2011 56,967 - - 56,967
2010 57,455 - - 57,455
K.D. Noonan3 2011 - - - -
2010 33,651 - - 33,651
P. Regan 2011 - - - -
2010 - - - -
J. Hills 2011 55,000 - - 55,000
2010 26,442 - - 26,442
Total 2011 $472,123 $149,277 - $621,400
2010 $1,035,098 $124,978 $256,383 $1,416,459
(1) Remuneration amounts are for the 2011 and 2010 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) Payments made in pounds Sterling, at exchange rates to the US Dollar ranging from 1.56. to 1.66 in 2011
Benefits represent contributions to medical insurance
schemes, life insurance and the 401(k) pension plan and cost
of living allowance payments. The share based payment
charge for directors' founder shares and share options were
US$198,392 (2010: US$345,117). These amounts have been included
within administrative costs. The total directors' compensation
is US$819,792 (2010: US$1,761,576).
DIRECTORS' PENSION ARRANGEMENTS
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$9,800 in 2011 with a tax
deferral limit of US$16,500 and additional tax deferral provisions
for employees over 50 years old.
