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• External directorships of executive directors

Directors' remuneration report

External directorships of executive directors

James Guyette was a director of The PrivateBank and Trust Company of Chicago, Illinois and of priceline.com Inc. and Andrew Shilston was a non-executive director of Cairn Energy PLC until his resignation on May 23, 2008. In each case, the director retained the relevant fees from serving on the boards of these companies, as shown in the table below:

External directorship fees

				Payment received £000
James Guyette1,2				68
Andrew Shilston				25

¹ James Guyette was paid in US dollars translated at $1.854 = £1.

² In addition to an annual fee, James Guyette received 1,418 Restricted Share Units in PrivateBank. During 2008, 1,000 of his stock options in PrivateBank vested at an exercise price of US$46.51 per share and 1,000 stock options vested at an exercise price of US$33.73 per share. Also during 2008, 500 shares of restricted stock vested at US$107.90 per share, 500 shares of restricted stock vested at US$115.33 per share and 500 shares of restricted vested at US$134.53 in priceline.com. He was also granted 863 shares of restricted stock at US$115.33 per share.