The salary, fees and other benefits for each of the Directors during the year were:
|L Herlihy (note (a))||-||69||-||-||-||69||41|
|J Fitzgerald (note (b))||-||33||-||-||-||33||19|
|N Dunphy (note (c))||-||20||-||-||-||20||12|
|Ml Keane (note (e))||-||-||-||-||-||-||8|
|A O'Connor (note (d))||-||12||-||-||-||12||-|
|E Power (note (f))||-||8||-||-||-||8||19|
|R Prendergast (note (d))||-||12||-||-||-||12||-|
|M Walsh (note (g))||-||36||-||-||-||36||85|
(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.
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:
of increase in
accrued in 2008
in excess of inflation
accrued pension at
3 January 2009