Annual Report 2007 in PDF - Cairn Energy PLC

DIRECTORS’ REMUNERATION REPORT
CONTINUED
INFORMATION SUBJECT TO AUDIT
Directors’ Remuneration
The remuneration of the directors for the year ended 31 December 2007 was as follows:
66 CAIRN ENERGY PLC ANNUAL REPORT 2007
Annual Other Total Total Pension Pension
Salary Benefits (1) bonus (2) payments Fees 2007 2006 2007 2006
£ £ £ £ £ £ £ £ £
Executive
Sir Bill Gammell 480,000 26,129 240,000 58,000 (3) – 804,129 986,716 72,000 72,000
Dr Mike Watts 350,000 19,512 175,000 – – 544,512 581,844 52,500 52,500
Malcolm Thoms 300,000 23,241 150,000 – – 473,241 504,435 45,000 45,000
Phil Tracy 342,373 (4) 6,486 150,000 – – 498,859 491,296 45,000 45,000
Jann Brown 250,000 22,037 125,000 – – 397,037 252,994 (5) 37,500 4,623
Simon Thomson 250,000 23,837 125,000 – – 398,837 248,591 (5) 37,500 4,623
Non-executive
Norman Murray – – – – 140,000 140,000 190,000 (6) – –
Hamish Grossart – – – – 90,000 90,000 140,000 (6) – –
Ed Story – – – – 50,000 50,000 50,000 – –
Todd Hunt – – – – 50,000 50,000 50,000 – –
Mark Tyndall – – – – 50,000 50,000 75,000 (6) – –
Andrew Shilston – – – – 50,000 50,000 50,000 – –
Former director
kevin Hart (7) – – – – – – 660,430 – 39,575
Notes:
(1) Benefits comprise a company car, permanent health insurance, private health insurance and death in service benefit.
(2) The annual bonus for 2007 is payable in the subsequent financial year.
(3) This bonus payment was made to Sir Bill Gammell in respect of the IPO and Sir Bill subsequently donated the full amount to
charity.
(4) This sum includes the payment of £42,373 to Phil Tracy as an allowance during his time spent in India from 1 November 2007
to the year end.
(5) Jann Brown and Simon Thomson were appointed as directors on 17 November 2006. The figures stated are in respect of the
period from that date to 31 December 2006 and include the IPO bonuses detailed in the 2006 annual report.
(6) This total includes a payment in respect of additional work on the IPO in 2006.
(7) kevin Hart resigned as a director with effect from 17 November 2006. The figures stated are in respect of the period from
1 January 2006 to that date.
LTIP Awards (2002 LTIP)
The total number of combined Tier One and Tier Two awards held by the executive directors pursuant to the 2002 LTIP is as
follows:
At 01.01.07 Awarded in year Vested in year Lapsed in year At 31.12.07
Sir Bill Gammell 294,300 0 25,200 87,800 181,300
Dr Mike Watts 185,300 0 15,200 22,800 147,300
Malcolm Thoms 168,100 0 15,200 22,800 130,100
Phil Tracy 173,700 0 12,800 51,200 109,700
Jann Brown 118,200 0 8,400 44,600 65,200
Simon Thomson 120,500 0 8,400 44,600 67,500