Notes to the financial statements

for the year ended 3 January 2009

9.Directors' remuneration

The salary, fees and other benefits for each of the Directors during the year were:

	Salary €'000	Fees €'000	Performance bonus €'000	Pension contribution €'000	Other benefits €'000	2008 Total €'000	2007 Total €'000
Executive
J Moloney	509	-	460	162	36	1,167	1,194
G Meagher	306	-	284	102	22	714	756
K Toland	326	-	314	120	7	767	876
2008	1,141	-	1,058	384	65	2,648
2007	1,032	-	1,391	342	61		2,826

Non-executive
L Herlihy (note (a))	-	69	-	-	-	69	41
J Fitzgerald (note (b))	-	33	-	-	-	33	19
V Quinlan	-	42	-	-	-	42	41
J Callaghan	-	70	-	-	-	70	63
H Corbally	-	20	-	-	-	20	19
N Dunphy (note (c))	-	20	-	-	-	20	12
E Fitzpatrick	-	20	-	-	-	20	19
J Gilsenan	-	20	-	-	-	20	19
P Gleeson	-	20	-	-	-	20	19
P Haran	-	62	-	-	-	62	59
C Hill	-	20	-	-	-	20	19
Ml Keane (note (e))	-	-	-	-	-	-	8
M Keane	-	20	-	-	-	20	19
J Liston	-	70	-	-	-	70	63
M Merrick	-	20	-	-	-	20	19
W Murphy	-	62	-	-	-	62	59
A O'Connor (note (d))	-	12	-	-	-	12	-
M Parsons	-	20	-	-	-	20	19
E Power (note (f))	-	8	-	-	-	8	19
R Prendergast (note (d))	-	12	-	-	-	12	-
M Walsh (note (g))	-	36	-	-	-	36	85
2008	-	656	-	-	-	656
2007	-	621	-	-	-		621
Total 2008	1,141	656	1,058	384	65	3,304
Total 2007	1,032	621	1,391	342	61		3,447

(a) Mr L Herlihy was appointed Chairman on 28 May 2008.
(b) Mr J Fitzgerald was appointed Vice Chairman on 28 May 2008.
(c) Mr N Dunphy was appointed as a Director on 31 May 2007.
(d) Mr A O'Connor and Mr R Prendergast were appointed Directors on 28 May 2008.
(e) Mr Ml Keane resigned as a Director on 31 May 2007.
(f) Mr E Power resigned as a Director on 28 May 2008.
(g) Mr M Walsh resigned both as Chairman and Director on 28 May 2008.

Details of Directors' share options are set out in note 24 and note 43 to the financial statements.

In 2008 holders of options granted in 1998 under the Avonmore share option scheme were given the option to receive the value of the option in cash in lieu of exercising the option. Mr J Moloney and Mr G Meagher both elected to receive payment respectively of €105,000 and €52,500 in lieu of exercising the options, which then lapsed.

The Remuneration Committee of the Board, which comprises solely of non-executive Directors, determines the Company's policy on executive Director remuneration and sets the remuneration package of each of the executive Directors. There are no contracts of service for executive Directors which are required to be made available for inspection.

The defined benefit pension benefits of each of the executive Directors during the year were as follows:

	Transfer value of increase in accrued pension €' 000	Annual pension accrued in 2008 in excess of inflation €' 000	Total annual accrued pension at 3 January 2009 €' 000
J Moloney	776	38	283
G Meagher	185	8	200
K Toland	179	17	99
2008	1,140	63	582
2007	508	30	563