Ryanair 2011 Annual Report Download - page 101

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99
Flight Operations of Ryanair from May 2002, having served as Director of U.K. Operations since April 1998.
Prior to that, David served as Regional General Manager for Europe and CIS for Aer Rianta International.
Between 1992 and 1996, David served as Director of Ground Operations and In-flight for Ryanair.
Michael O’Leary (Chief Executive Officer). Michael O’Leary has served as a director of Ryanair since
November 1988 and was appointed Chief Executive Officer on January 1, 1994.
Edward Wilson (Director of Personnel and In-flight). Edward Wilson was appointed Director of Personnel
and In-flight in December 2002, prior to which he served as Head of Personnel since joining Ryanair in
December 1997. Prior to joining Ryanair he served as Human Resources Manager for Gateway 2000 and held a
number of other human resources-related positions in the Irish financial services sector.
COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS
Compensation
The aggregate amount of compensation paid by Ryanair Holdings and its subsidiaries to the eight
sitting non-executive directors and nine executive officers named above in the 2011 fiscal year was 15.2 million.
For details of Mr. O’Leary’s compensation in such fiscal year, see “—Employment and Bonus Agreement with
Mr. O’Leary” below.
Each of Ryanair Holdings’ eight non-executive directors is entitled to receive 132,000 plus expenses
per annum, as remuneration for his services to Ryanair Holdings. Mr. Bonderman executed an agreement with
Ryanair Holdings waiving his entitlement to receive this remuneration for the 2011 fiscal year. The additional
remuneration paid to Audit Committee members for service on that committee is 115,000 per annum. Mr.
Horgan receives 140,000 per annum in connection with his additional duties in relation to the Air Safety
Committee.
For further details of stock options that have been granted to the Company’s employees, including the
executive officers, see “Item 10. Additional Information—Options to Purchase Securities from Registrant or
Subsidiaries,” as well as Note 15 to the consolidated financial statements included herein.
Employment and Bonus Agreement with Mr. O’Leary
Mr. O’Leary’s current employment agreement with the Company is dated July 1, 2002 and can be
terminated by either party upon 12 months’ notice. Pursuant to the agreement, Mr. O’Leary serves as Chief
Executive Officer at a current annual gross salary of 1595,000, subject to any increases that may be agreed
between the Company and Mr. O’Leary. Mr. O’Leary is also eligible for annual bonuses as determined by the
Board of Directors of the Company; the amount of such bonuses paid to Mr. O’Leary in the 2011 fiscal year
totaled 1440,000. Mr. O’Leary is subject to a covenant not to compete with the Company within the EU for a
period of two years after the termination of his employment with the Company. Mr. O’Leary’s employment
agreement does not contain provisions providing for compensation on its termination.