Lenovo 2008 Annual Report Download - page 110

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
12 Emoluments of directors and highest paid individuals (continued)
(a) Directors’ and senior management’s emoluments (continued)
2007
Name of Director Fees Salary
Discretionary
bonuses
Inducement
fees
(note i)
Long-term
incentives
awards
(note ii)
Retirement
payments
and
employer’s
contribution
to pension
schemes
Other
benefits-
in-kind Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Executive directors
Mr. Yang Yuanqing –626 1,968 –1,440 66 63 4,16 3
Mr. William J. Amelio –750 250 1,50 0 2,623 15 1,573 6 ,711
Ms. Ma Xuezheng –328 763 –511 65 –1,667
Non-executive directors
Mr. Liu Chuanzhi 40 –––95 463 –598
Mr. Zhu Linan 40 – – – 95 – – 135
Mr. James G. Coulter 40 –––51 – – 91
Mr. William O. Grabe 45 – – – 95 – – 140
Mr. Shan Weijian 40 – – – 95 – – 135
Independent non-
executive directors
Mr. Wong Wai Ming 50 – – – 95 – – 145
Professor Woo Chia-Wei 40 –––95 – – 135
Mr. Ting Lee Sen 40 –––95 – – 135
Mr. John W. Barter III 40 –––95 – – 135
375 1,704 2,981 1,500 5,385 609 1,636 14,190
Notes:
(i) Inducement fees paid to Mr. Amelio represent payment made to his former employer pursuant to an agreement entered into between
the Company, Mr. Amelio and his former employer (the “Agreement”). Under the terms of the Agreement, the Company made a
payment in the amount of US$7.5 million to his former employer. This amount reflects benefits realized by Mr. Amelio under the
long-term incentive plans of his former employer that were subject to certain repayment conditions. Inducement fees for the year
ended March 31, 2008 represent the annual amortized amount at US$1.5 million (2007: US$1.5 million) over a five-year period to
December 2010 pursuant to the Agreement.
(ii) Details of the long-term incentive program of the Company are set out in note 30(a). The fair value of the employee ser vices received
in exchange for the grant of the long-term incentive awards is recognized as an expense. The total amount to be amortized over
the vesting period is determined by reference to the fair value of the long-term incentive awards at the date of grant. The amounts
disclosed above represent the amortized amounts for the two years ended March 31, 2007 and 2008.
(iii) Mr. William O. Grabe, Professor Woo Chia-Wei, Mr. Ting Lee Sen and Mr. John W. Barter III have elected to defer their receipts of
the cash of director’s fee into fully vested share units under the long-term incentive program (Note 30(a)).
(iv) Mr. Justin T. Chang (alternate director to Mr. James G. Coulter), and Mr. Daniel A. Carroll (alternate director to Mr. Shan Weijian) did
not receive any fees or remuneration during the years ended March 31, 2007 and 2008.
Lenovo Group Limited • Annual Report 2007/08
108