2009 Annual Report - CRH

Directors’ Remuneration
Notes
Executive Directors
2009 2008
€000 €000
Basic salary 3,384 2,807
Performance-related incentive plan
– cash element 964 905
– deferred shares element - -
Retirement benefits expense 1,462 497
Benefits 397 369
(i) 6,207 4,578
(ii) Provision for Chief Executive long-term incentive plan 460 456
Total executive Directors’ remuneration 6,667 5,034
Average number of executive Directors 4.00 3.00
Non-executive Directors
Fees 646 568
Other remuneration 672 679
(i) Total non-executive Directors’ remuneration 1,318 1,247
Average number of non-executive Directors 9.50 8.35
(iii) Severance - 2,160
(iv) Payments to former Directors 59 66
Total Directors’ remuneration 8,044 8,507
Notes to Directors’ remuneration
(i) See analysis of 2009 remuneration by individual on page 54.
(ii) As set out on page 51, the Chief Executive has a special long-term incentive plan
tied to the achievement of exceptional growth and key strategic goals for the fiveyear
period 2009 to 2013 with a total maximum earnings potential of 40% of
aggregate basic salary. While accruals are made on an annual basis, there is no
commitment to any payment until the end of the five-year period. A similar plan
was in place for the former Chief Executive Mr. O’Mahony for the four-year period
2005 to 2008 with a total maximum earnings potential of 40% of aggregate basic
salary, amounting to a potential €2,074,000. The actual earnings under this plan
came to €1,950,000, payment of which was made in 2009. Annual provisions of
40% of basic salary were made in respect of Mr. O’Mahony’s plan for the years
2005 through 2008 amounting in total to €1,494,000. Accordingly the balance of
€456,000 was provided in 2008 and is reflected in total 2008 Directors’
remuneration.
(iii) Severance payment to Mr. T.W. Hill who resigned as an executive on 31st July
2008 after 28 years service.
(iv) Consulting and other fees paid to a number of former directors.
CRH 53