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Annual Report & Accounts 2013 - REPORT OF THE REMUNERATION COMMITTEE
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Bonus Interest on Dividend Transaction deferred related success bonuses* Total 2013 Total 2012 € € € € € Executive Directors K Alexander 1,196,431 826,511 64,556 2,087,498 826,698 R Cooper 598,216 461,426 27,422 1,087,064 413,349 Non-Executive Directors L Feldman 598,216 155,806 7,081 761,103 413,349 N Blythe-Tinker 21,000 - - 21,000 19,500 2,413,863 1,443,743 99,059 3,956,665 1,672,896 * As part of the Sportingbet acquisition the Executive Directors agreed that the entitlement to payment of a bonus on the November 2013 €0.15 interim dividend and dividend bonus on payment of a dividend greater than €0.2599 and any subsequent bonus would not arise until the earlier of: (i) payment of a dividend by 30 November 2013; (ii) the GVC Shares ceasing to be traded on AIM; and/or (iii) the relevant GVC Director's employment and/or office with GVC being terminated by GVC for whatever reason or the relevant GVC Director's employment terminating by reason of their resignation for "good reason". Interest was accrued on the amount due to the relevant GVC Director under this bonus arrangement at a rate of 5 per cent. per annum from the month following the declaration of a dividend until the bonus is paid. All deferred bonuses and accrued interest have been paid at 31 December 2013 and were made to UK resident Directors through a UK payroll, and taxed at source. Further details can be found in the annual bonus summary on page 63. Reinvestment criteria for Directors' bonuses The Directors are under an obligation to re-invest not less than 20% of the post-tax amount of bonus received by them. This reinvestment can take the form of either purchasing shares in the open market, or through the exercise of share options whereby the Company receives the re-investment funds and issues shares. At 31 December 2013, all Directors had satisfied this criteria. K Alexander R Cooper L Feldman N Blythe-Tinker Share option base 1,600,000 800,000 800,000 75,000 Dividend per share € 0.28 € 0.28 € 0.28 € 0.28 Dividend bonus € 448,000 € 224,000 € 224,000 € 21,000 Dividend bonus on payment of a dividend greater than €0.2799 € 748,431 € 374,216 € 374,216 - € 1,196,431 € 598,216 € 598,216 € 21,000 Directors' Service and Consultancy Agreements Notice Date Service period by appointed contract either party Executive Directors K Alexander 19 April 2010 Yes 12 Months* R Cooper 19 April 2010 Yes 12 Months* Non-Executive Directors L Feldman 19 April 2010 No 12 months* N Blythe-Tinker** 19 April 2010 No 12 months K Diacono 19 April 2010 No 12 months * unless (a) dividend hurdles are reached or (b) there is a change of control, in which case the notice period to be given by the Company to the individual increases to 2 years ** stepped down from the Board on 17 January 2014 ANNUAL REPORT 2013 64 REPORT OF THE REMUNERATION COMMITTEE continued