Awards made to executive directors during the 2009 financial year
| Reward elements | Vittorio Colao | Andy Halford |
|---|---|---|
| Base salary | Vittorio’s base salary was increased from £840,000 to £975,000 when he was promoted to Group Chief Executive on 29 July 2008. | Andy’s base salary was increased from £642,000 to £674,100 on 1 July 2008. |
| Annual bonus | The target bonus was £932,452 and the maximum bonus was £1,864,904. | The target bonus was £666,075 and the maximum bonus was £1,332,150. |
| Long term incentive plan | In July 2008, the base award for the Chief Executive had a face value of 137.5% of base salary at target. | In July 2008, the base award for the Chief Financial Officer had a face value of 110% of base salary at target. |
| Investment opportunity | Vittorio invested the maximum possible into the GLTI plan (866,086 shares) and therefore received a matching award with a face value of 100% base salary at target. | Andy invested the maximum possible into the GLTI plan (565,703 shares) and therefore received a matching award with a face value of 100% base salary at target. |
Arun Sarin
Arun stepped down from the Board on 29 July 2008, and later retired from the business on 28 February 2009. He was available for consultation during this period, over which, Arun received a nominal base salary of £1 and no bonus or new GLTI grant in July 2008. On retirement, Arun’s long term incentive awards vested on a pro-rated basis (for both time and performance). Arun also had a contractual entitlement to £500,000 in connection with relocation to the US.