Santander woos execs with bonus bonanza
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Laura Stavro-Beauchamp
Santander is offering bonuses of between 75% and 125% of their salaries to key executives if they agree to stay on at Alliance & Leicester until next December.
Recipients include David Bennett, chief executive at A&L, and directors Chris Rhodes, Richard Banks and Ian Buchanan.
If they leave before then on good terms, due to either ill health or redundancy, they will also be entitled to a pro-rata payment.
The bank is also giving 100 shares - currently selling at 928.5p - to each A&L employee should the deal go through.
Shareholders are set to vote on the takeover on September 16.
