The bank is poised to stage a partial climbdown over plans to pay
When Flint, a former finance director, was made chairman in 2010,
The bank's remuneration committee decided the level of attention on financial regulation and bank employees' conduct was exceptional and that Flint's extra work should be rewarded.
The committee proposed paying him a maximum share bonus equivalent to his pounds 1.5m salary and pounds 750,000 pension payment "given his executive role in leading the group's interactions on regulatory policy and providing leadership and tone to drive an improvement in the group's compliance, conduct and behaviour".
Big shareholders are unhappy about the award because building relationships with watchdogs and governments, leading on regulatory reform and upholding
Talks are still going on between the bank and these shareholders before the 23 May meeting in
Limiting Flint's maximum award to less than 100% and giving clearer guidance on how he will qualify for the bonus are also said to be under discussion.
Flint earned pounds 2.43m last year but his pay would almost double if he got the maximum award proposed. If he was paid the bonus under the performance share plan, he would not get the shares for five years and would be required to hold on to them until he retires.
Flint's pay terms are contained in
Pirc, the corporate governance consultant, has urged shareholders to vote against the pay policy because
Governance advisers Manifest said pay at
Most Popular Stories
- 'Lucy's' Super Powers Tops 'Hercules' at Box Office
- The Rise and Fall of Richard Alarcon
- 'Sharknado' Sequel Has Bite and Lots of Laughs
- Nissan Profits Rise on Growth in U.S., China
- U.N. Renews Demand for Gaza Cease-Fire
- Shania Twain's Vegas residency ending after 110 shows
- Pending Home Sales Slipped in June
- Desktop, Laptop Setups Still King
- Four DC Comics Properties Brought to TV Get Comic-Con Event
- Vancrest Assisted Living Project to Add 20 Jobs