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11/25/2012 : PADDY POWER CFO IN LINE FOR MILLIONS IN BONUS PAYOUT
Based on achieving set targets
Former Ulster Bank chief and recently appointed chief financial officer of Paddy Power, Cormac McCarthy, was awarded 35 000 conditional shares under the company's "2004 long-term incentive plan" last week which according to this week's closing price are currently worth around Euro 2.02 million.
The shares commit McCarthy to Paddy Power until 2015, the earliest in which they may vest, but certain criteria and targets must be achieved to make him eligible for a payout.
An unnamed company spokesperson said in a statement to the Irish Independent newspaper that: "The awards vest if earnings per share grows by an amount at least equal to the compound growth of the consumer price index plus 12 per cent per annum, over a period of three years."
McCarthy's former employer, Ireland's third biggest banking firm, The Ulster Bank has needed billions of bailout funding from UK parent RBS and was forced to embark on a staff retrenchment programme at the beginning of 2012.
McCarthy tendered his resignation in 2010 but agreed to remain until a suitable replacement was found eventually leaving the bank in April 2011 when it appointed chief executive Jim Brown.
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To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
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NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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