Performance-based loyalty scheme
Aggregate emoluments of Directors disclosed below do not include any amounts in respect of the senior executives’ loyalty bonus scheme, a scheme which was awarded in January 2007. For the current year M J Collecott’s award could equate to £150,000 subject to the criteria below being met. This same amount would accrue for each of the next two years and be receivable in tranches as outlined below:
• • • • amounts payable in two tranches, the first after three years from the commencement date (the date the Executive is informed of his bonus) and the second after five years from the same date; during the year the first tranche was paid, following achievement of aggregate earnings before interest, tax, depreciation and amortisation (EBITDA) of £45m or more over the three year ends following the commencement date; the payment of the second tranche is conditional on the above conditions being met as well as achieving aggregate EBITDA of £30m per annum in the fourth and fifth years after commencement; and Executive Directors are only entitled to receive their entitlement provided they remain in employment at the date they are entitled to receive their first and second tranches.
The aggregate emoluments of the Directors of the Company for the year were £1,835,657 (2009: £927,999). Contributions to pension schemes were £23,500 (2009: £23,500) as detailed below. Details of the remuneration of the Directors individually and in total are shown below:
Benefits in kind £ Year to 30 June 2010 Total £ Year to 30 June 2009 Total £
Sub total £
D P Levy* M J Collecott Lord Davies of Abersoch** (resigned 16 January 2009) Sir K E Mills**
675,000 — — 5,000 680,000
— 235,000 — — 235,000
675,000 235,000 — — 910,000
— 10,657 — — 10,657
1,350,000 480,657 — 5,000 1,835,657
— 23,500 — — 23,500
1,350,000 504,157 — 5,000 1,859,157
675,000 266,499 5,000 5,000 951,499
* The fees of the Chairman, Daniel Levy, were paid to ENIC Group. ** Non-Executive Directors.
Approved by the Remuneration Committee.
Sir Keith Mills
Chairman of the Remuneration Committee 10 November 2010
Tottenham Hotspur plc
Annual Report 2010