HELGE Lund, chief executive of BG Group, could earn around £32 million for a year's work at the company which is set to be taken over by Shell, it has been reported.
The £47bn takeover was announced on Wednesday weeks after Mr Lund too charge at BG. The Reuters agency noted the Norwegian is entitled to liquidated damages equal to a year's gross salary and 30 percent of base pay following a takeover. Mr Lund has a salary of £1.5m and is entitled to an additional 30 percent cash payment in lieu of a pension. The Norwegian executive has an annual bonus plan worth up to two times salary. Reuters calculates Mr Lund could receive share awards worth around £25m. Mr Lund is expected to leave BG following completion of the £47bn deal, due early next year.
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