Engineering and construction firm Leighton Holdings has announced the new employment contract with its Chief Executive Officer, Hamish Tyrwhitt, who was appointed on 24 August 2011. The contract includes a fixed base salary of $2.4 million, with short and long-term incentives linked to performance targets.

 

The short-term incentive allows for an annual bonus of 100% of fixed salary for target performance with a maximum annual bonus of 150% for exceptional performance. The bonus will be 50% in cash and 50% deferred as share rights.

 

The long term incentive plan, currently being finalised, will entitle Mr Tyrwhitt to annual awards of rights to Leighton shares.