We started focusing on building performance and deferred design until after we had spent a lot of time first identifying the core issues of each project and generated solutions.
The FSA's initial draft in March contained threats to limit the share of bonuses that can be taken in cash, forcing at least two-thirds of the payout to be deferred and depend on future performance.
(The law exempts any amount above $1 million that is tied to performance, or that is deferred).
The extra £4.5m in shares, deferred until 2014 and dependent on performance targets, mean Hester is in line for a total pay package of £7.7m for last year.
It said the typical amount executives will actually take home will be closer to €2.2m, thanks to a plan to defer 30% of performance-related pay.
He reiterated his view that bankers' pay needed to have risk-adjusted performance criteria; that bonuses should be deferred over a longer period; and the need for clawback where there is misconduct.
Maurice Lévy, chief executive of the Paris-based Publicis, spent much of his time at the company's annual meeting last week defending the $20 million in deferred compensation that he is to receive for reaching earlier performance goals.
Network Rail said bonuses would be deferred for three years and could even be eliminated if performance targets - particularly on safety - were not met.
Network Rail said bonuses will be deferred for three years and could even be eliminated if performance targets - particularly on safety - are not met.
When the Mets negotiated their larger contracts with star players — complex deals with signing bonuses and performance incentives — they sometimes adopted the strategy of placing deferred money owed the players with Mr. Madoff's investment firm.
Such deferred compensation is believed to align employee interests with the long-term performance of a financial firm.
