We hope that his fellow executives will now follow suit and announce they will also be giving up their large bonuses as well".
Other top executives at Network Rail are entitled to annual performance-related bonuses of up to 20% of salaries.
He has introduced bonuses for workers who turn up sober and refrain from stealing, and the sack for those who do not.
However, such is the structure of these sorts of bonuses that they are paid regardless of performance.
A year ago more than a third of the bank's investors opposed its remuneration report, which saw bonuses increased despite a 30% fall in profits.
He warned the bank risked a "death spiral" of staff leaving without the higher bonuses.
As of 2011-12, ELCs pay the standard $925,000 per year (not counting bonuses), but if a player is 18 or 19 (Monahan's 19th birthday was a few days ago) and plays fewer than nine games in a season, that contract gets pushed forward to the next year.
The move by Lloyds to ask for backing for bonuses of 200% of salary puts the UK government – facing allegations that it is allowing banks to breach the EU rules – on the spot.
It owns 33% of Lloyds shares through UK Financial Investments and could come under pressure from the public to use that stake to block any bonuses of more than 100%.
Jenkins said Barclays had to pay higher bonuses to avoid a "death spiral" at the bank – because staff would walk out if they did not get bigger pay deals.
However, employees were told about the size of their bonuses on Friday, and when the bank publishes its 2012 results on Tuesday, it is expected to reveal that it paid out up to £2bn in bonuses.
