Holiday Inn 2009 Annual Report Download - page 57

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Remuneration report 55
1 This award was based on EPS, EBIT and individual performance measures.
Total shares held include matching shares.
2 This award was based on EPS and EBIT measures. Total shares held include
matching shares.
3 This award was based on Group EBIT and net annual rooms additions
measures. Total shares held include matching shares.
4 This award was based on Group EBIT, net annual rooms additions and
individual performance measures. The bonus target was 57.5% of base
salary. Both Executive Directors were awarded 20.52% for Group EBIT
performance, 10.97% for net annual rooms additions and 30.19% for
individual performance, resulting in a total deferred shares bonus of
61.68% of base salary. No matching shares were awarded.
The following table sets out the pension benefits of the Executive Directors.
Andrew Richard
Cosslett Solomons
££
Directors’ contributions in the year139,400 25,100
Transfer value of accrued benefits at 1 January 2009 2,028,600 3,430,800
Transfer value of accrued benefits at 31 December 2009 2,574,100 3,934,700
Increase in transfer value over the year, less Directors’ contributions 506,100 478,800
Absolute increase in accrued pension2(pa) 28,600 20,400
Increase in accrued pension3(pa) 28,600 20,400
Accrued pension at 31 December 20094(pa) 131,200 217,700
Age at 31 December 2009 54 48
Annual Bonus Plan deferred share awards
Messrs Cosslett and Solomons participated in the ABP during the year ended 31 December 2009. However, no annual bonus is payable
for this period. No matching shares are provided on awards. Directors’ pre-tax share interests during the year were as follows.
ABP Value
Financial ABP shares based
year on awards vested on share
which ABP during Market during Market ABP price of
performance awards the year price per the year price per Value at awards Planned 893p at
is based held at
1 Jan 2009 to
Award share at
1 Jan 2009 to
Vesting share at vesting held at vesting 31 Dec 2009
Directors for award 1 Jan 2009 31 Dec 2009 date award 31 Dec 2009 date vesting £ 31 Dec 2009 date £
Andrew Cosslett 2005 28,87818.3.06 853.67p 28,878 9.3.09 443.93p 128,198
2006 55,870226.2.07 1235p 55,870 26.2.10 498,919
2007 71,287325.2.08 819.67p 71,287 25.2.11 636,593
2008 104,652423.2.09 472.67p 104,652 23.2.12 934,542
Total 156,035 104,652 231,809 2,070,054
Richard Solomons 2005 18,45918.3.06 853.67p 18,459 9.3.09 443.93p 81,945
2006 35,757226.2.07 1235p 35,757 26.2.10 319,310
2007 45,634325.2.08 819.67p 45,634 25.2.11 407,512
2008 66,549423.2.09 472.67p 66,549 23.2.12 594,283
Total 99,850 66,549 147,940 1,321,105
1 Contributions paid in the year by the Directors under the terms
of the plans. Contributions were 5% of full pensionable salary.
2 The absolute increase in accrued pension during the year.
3 The increase in accrued pension during the year, excluding any increase
for inflation.
4 Accrued pension is that which would be paid annually on retirement at 60,
based on service to 31 December 2009.
THE BOARD,
SENIOR MANAGEMENT AND
THEIR RESPONSIBILITIES