Annual Report & Accounts 2009 - Anglo Irish Bank

(7) Resigned as an Executive Director on 7 September 2009. In addition, from 8 September 2009 until 31 December 2009
Declan Quilligan earned a salary of €178,863 and was entitled to related pension scheme contributions of €80,309. On
15 March 2010 he left the employment of the Bank and received a voluntary redundancy payment inclusive of pay in lieu
of notice and legal/actuarial fees of €784,095, a payment in lieu of outstanding holidays of €65,417 and an actuarially
calculated gross payment of €1,980,000 before tax in lieu of pension related benefits. An after tax sum of €915,625 from
this payment is to be set-off against outstanding loan balances with the Bank. A further after tax sum of €440,000 is
to be placed on deposit with the Bank and used to service the remaining loans outstanding. He also received €219,800
on 12 December 2008 and €262,223 in March 2010 for deferred performance bonuses, to which he had a contractual
entitlement. These awards were in respect of the financial years to 30 September 2005 and 30 September 2006 and
were expensed, and disclosed where appropriate, in the years in which they were awarded.
(8) Resigned as an Executive Director on 19 February 2009. In addition, from 20 February 2009 until 8 December 2009 Pat
Whelan earned a salary of €399,932, other benefits of €33,784 and was entitled to related pension scheme contributions of
€179,570. On leaving service in December 2009 he received a voluntary redundancy payment including pay in lieu of notice
of €635,042 and a payment in lieu of outstanding holidays of €15,385. An after tax sum of €275,194 from the payments
he received was placed on deposit with the Bank and will be used to service outstanding loan balances. He also
received €192,325 on 12 December 2008 and €223,100 in December 2009 for deferred performance bonuses, to which
he had a contractual entitlement. These awards were in respect of the financial years to 30 September 2005 and
30 September 2006 and were expensed, and disclosed where appropriate, in the years in which they were awarded.
(9) Co-opted on 18 December 2008. Resigned on 22 December 2009.
(10) Noël Harwerth, Anne Heraty, Michael Jacob, Gary McGann and Ned Sullivan resigned on 19 January 2009.
(11) Sean FitzPatrick and Lar Bradshaw resigned on 18 December 2008.
Annual
performance
Former
Salary Fees ^ bonus + Benefits # Pension * Other Director Total
€'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000
Executive Directors
David Drumm (1) 1,150 - - 45 934 - - 2,129
Tom Browne (2) 115 - - 27 29 3,750 - 3,921
William McAteer 519 - - 50 91 - - 660
Declan Quilligan 602 - - 7 161 - - 770
Pat Whelan 481 - - 41 128 - - 650
Non-executive Directors
Sean FitzPatrick - 525 - 14 - - - 539
Lar Bradshaw - 100 - - - - - 100
Fintan Drury (3) - 93 - - - - - 93
Noël Harwerth - 92 - - - - - 92
Anne Heraty - 110 - - - - - 110
Michael Jacob - 92 - - - - - 92
Gary McGann - 124 - - - - - 124
Donal O'Connor (4) - 23 - - - - - 23
Ned Sullivan - 147 - - - - - 147
Former Director
Year ended 30 September 2008
Anglo Irish Bank
Annual Report & Accounts 2009
Peter Murray (5) - - - - - - 85 85
Total 2,867 1,306 - 184 1,343 3,750 85 9,535
^ Fees to Non-executive Directors comprise a basic fee for Board membership and additional fees paid to the Chairmen of
each of the Board Committees as well as to the Senior Independent Director.
+ No performance bonuses were awarded to Executive Directors in 2008.
# Excludes an aggregate amount of €36k received by way of expenses allowance determined in the period to
31 December 2009 to be chargeable to income tax and other benefits.
* Comprises employer contributions to pension funds and amounts in lieu of accrued benefits.
(1) As detailed in the Pensions section on page 145, David Drumm elected to receive a taxable cash allowance broadly
equivalent to the cost to the Group of the pension benefits forgone that would have accrued during the year.
(2) Retired on 28 November 2007. Tom Browne received €3.75m in recognition of his contribution to the Group.
(3) Retired on 27 June 2008.
(4) Co-opted on 26 June 2008.
(5) Fees paid to Peter Murray in his capacity as a member of the Supervisory Board of Anglo Irish Bank (Austria) A.G. and
as a Non-executive Director of Anglo Irish Assurance Company Limited.
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