Glanbia plc Annual Report 201163Directors' Report: GovernanceCommittee reportswww.glanbia.comTable B(2): Share Options and LTIP Awards - Kevin Toland2002 LTIPOptions2-Jan-11Granted during the yearExercised during the yearLapsed during the year31-Dec-11Exercise price?Date of grantDate of exercise or lapseMarket price on exercise?Earliest date exercisable fromExpiry dateNote2002EPS164,000 - 164,000 - 0.00 1.5529-Aug-029-Sep-114.6730-Aug-059-Sep-111, 22002EPS100,000 - - - 100,000 2.7259-Dec-04--10-Dec-078-Dec-1412002EPS48,000 - - - 48,000 4.0330-Aug-07--31-Aug-1029-Aug-171Total:312,000 - 164,000 - 148,0002008 LTIPAwards2-Jan-11Granted during the yearVested during the yearLapsed during the year31-Dec-11Market price at date of award?Date of awardDate of vesting or lapseMarket price at vesting?Earliest Date for vestingExpiry DatePerformance PeriodNote2008TSR48,000 - - 48,000 - 4.4528-Aug-0830-Aug-114.1128-Aug-1130-Aug-112008-201032008EPS48,000 - 42,710 5,290 - 4.4528-Aug-0830-Aug-114.1128-Aug-1130-Aug-112008-201042008TSR48,000 - - - 48,000 2.729-Jun-09--9-Jun-129-Jun-132009-201152008EPS48,000 - - - 48,000 2.729-Jun-09--9-Jun-129-Jun-132009-201152008TSR72,500 - - - 72,500 2.8225-May-10--25-May-1325-May-142010-201252008EPS72,500 - - - 72,500 2.8225-May-10--25-May-1325-May-142010-201252008TSR - 70,000 - - 70,000 4.3528-Mar-11--28-Mar-1428-Mar-152011-201352008EPS - 70,000 - - 70,000 4.3528-Mar-11--28-Mar-1428-Mar-152011-20135Total:337,000140,00042,71053,290381,000Note: Performance conditions for the options and awards set out above are detailed below.1 Subject to a performance condition that has been met.2 A share award of 10% of the 164,000 shares lapsed on the sale of the shares.3 The award lapsed in 2011 having not met the performance condition.4 Subject to a performance condition that has been met in part.5 Subject to a performance condition that is yet to be tested.Table B(3): LTIP Awards - Michael Horan2008 LTIPAwards2-Jan-11Granted during the yearVested during the yearLapsed during the year31-Dec-11Market price at date of award?Date of awardDate of vesting or lapseMarket price at vesting?Earliest Date for vestingExpiry DatePerformance PeriodNote2008TSR12,000 - - 12,000 - 4.4528-Aug-0830-Aug-114.1128-Aug-1130-Aug-112008-201012008EPS12,000 - 9,727 2,273 - 4.4528-Aug-0830-Aug-114.1128-Aug-1130-Aug-112008-201022008TSR12,000 - - - 12,000 2.729-Jun-09--9-Jun-129-Jun-132009-201132008EPS12,000 - - - 12,000 2.729-Jun-09--9-Jun-129-Jun-132009-201132008TSR31,000 - - - 31,000 2.8225-May-10--25-May-1325-May-142010-201232008EPS31,000 - - - 31,000 2.8225-May-10--25-May-1325-May-142010-201232008TSR - 25,000 - - 25,000 4.3528-Mar-11--28-Mar-1428-Mar-152011-201332008EPS - 25,000 - - 25,000 4.3528-Mar-11--28-Mar-1428-Mar-152011-20133Total:110,00050,0009,72714,273136,000Note: Performance conditions for the options and awards set out above are detailed below.1 The award lapsed in 2011 having not met the performance condition.2 Subject to a performance condition that has been met in part.3 Subject to a performance condition that is yet to be tested.

64Glanbia plc Annual Report 2011Directors' Report: GovernanceCommittee reportswww.glanbia.comTable C: Directors remunerationSalary?'000Fees?'000Annual Incentive?'000Pensioncontribution?'000Otherbenefits?'0002011Total?'0002010Total?'000Executive DirectorsJ Moloney509-509144321,1941,159K Toland 419-3701297925907S Talbot 316-3161052075765220111,244-1,195378592,87620101,047-1,3362271082,718Non-Executive DirectorsL Herlihy -88---8879H Corbally (note (a))-33---3318Mn Keane (note (b))-42---4228J Callaghan-70---7063W Carroll (note (c))-15---15-N Dunphy (note (d))------9D Farrell (note (c))-15---15-J Fitzgerald (note (f))------19E Fitzpatrick (note (e)) -8---818J Gannon -23---2318J Gilsenan (note (e))-8---818P Gleeson-23---2318P Haran-62---6256B Hayes (note (g))-23---239C Hill (note (d))------9Ml Keane (note (g))-23---239J Liston-70---7063M Merrick -23---2318J Murphy (note (g))-23---239P Murphy (note (c))-15---15-W Murphy-62---6256A O'Connor (note (e))-8---818E Power (note (c))-15---15-R Prendergast-23---2318V Quinlan (note (h))-17---17382011-689---6892010-591---591Total 20111,2446891,195378593,565Total 20101,047591 1,336 2271083,309(a) Mr H Corbally was appointed Vice-Chairman on 26 May 2011.(b) Mr Mn Keane was appointed Vice-Chairman on 29 June 2010.(c) Messrs W Carroll, D Farrell, P Murphy and E Power were appointed Directors on 26 May 2011.(d) Messrs N Dunphy and C Hill resigned as Directors on 29 June 2010.(e) Messrs E Fitzpatrick, J Gilsenan and A O'Connor resigned as Directors on 26 May 2011.(f) Mr J Fitzgerald resigned as a Vice-Chairman and Director on 29 June 2010.(g) Messrs B Hayes, Ml Keane and J Murphy were appointed Directors on 29 June 2010.(h) Mr V Quinlan resigned as a Vice-Chairman and Director on 26 May 2011.All emoluments and compensation paid to the Directors during the year are shown above. Where the individual was appointed during the year the amount shown is for the period from appointment.Other benefits include the provision of a car (or car allowance), suitable medical insurance and insured life benefits.