Last checked at 8 May 2014 07:00
7 May 2014
Moneysupermarket.com Group PLC ("Company")
Paul Doughty - remuneration arrangements
Further to our recent announcements in connection with the retirement of Paul Doughty as a Director on 23 April 2014 and our 2013 Annual Report & Accounts and in accordance with section 430(2B) of the Companies Act 2006, the Company confirms that in connection with the termination of his employment, Paul Doughty will receive:
· A payment of salary in lieu of notice totalling £60,473 for a period of two months after he ceased to be an employee on 30 April 2014;
· A pro-rata bonus payment for the 2014 financial year, subject to performance, will be payable to reflect the portion of 2014 worked and determined in the normal manner after the year end;
· In respect of outstanding awards granted under the long term incentive plan:
o As a result of the Remuneration Committee exercising its discretion to treat Paul Doughty as a good leaver for the 2012 award, a pro rata amount of the 2012 award (over 346,252 shares) will continue to vest on its normal vesting date post cessation subject to scheme performance conditions; and
o Consistent with the default treatment under the rules, the award granted in 2013 (over 217,913 shares) lapsed in full at cessation.
Further details in respect of the bonus received and the number and value of shares received under the long term incentive plan awards will be disclosed in future remuneration reports.
Darren Drabble
Company Secretary