DAFC Posted January 24, 2014 Share Posted January 24, 2014 Finance director? Fail 0 Quote Link to comment Share on other sites More sharing options...
Apache Don Posted January 24, 2014 Share Posted January 24, 2014 6 months as far as I know.. 100 Grand then 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 Finance director? Fail Hows his own Finances? Non fail. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 100 Grand then No, pay off is £200,000. Though that ''could'' be a full years salary, less the £200k bonus he had agreed to give back. Ie he doesnt 'give' anything, just ''takes'' less. A bit like the Gers taking the money used to buy Chuckys shares, out of his severence pay 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 As soon as I seen the 'ex gratia qualifier' stuffed in front of payment or bonus it was clear he was getting something, it simply wasn't a payment that was a favour or something he wasn't legally entitled to. They just can't help themselves but they know a lot of the bears will buy into it ... you can almost hear them in the pubs now .. "aye but the club said" ..... :lol: 428 replies on that thread already , and to a Bear they all think this will save them 0 Quote Link to comment Share on other sites More sharing options...
GreenockRover Posted January 24, 2014 Share Posted January 24, 2014 It's the attempt from the club to mislead that's striking again though, isn't it? The 'ex-gratia' line did not mean a great deal to me, but it was obviously designed to suggest the parting of the ways had cost Rangers nothing. Again of course, it's not true. This guy has pocketed a lot of money to oversee calamitous financial running and even now gets to do nothing for a very generous sum. It probably had to be thus if he had a contract, but it's Rangers desire to suggest otherwise that tells us the entire exercise is cosmetic. ^^^^^^THIS. It's the language often used in corporate circles and, as they're still listed on AIM, they're obliged to come out with this chat. They'll be under pressure to replace Agent Stockbridge though so paying off one contract whilst setting up another will further deplete their finances. Watch out for Laxey, or one of their subsidiaries, offering one of their Financial guru's on the cheap ;-) 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 24, 2014 Share Posted January 24, 2014 El oh el There could be more spin in there ?, how long was his contract actually for ?, is this just another full years salary on top off what he has already earned ? or is it fully paid up for "X" amount of years left on his contract ?. 0 Quote Link to comment Share on other sites More sharing options...
Bookies Love Me Posted January 24, 2014 Share Posted January 24, 2014 It's the attempt from the club to mislead that's striking again though, isn't it? The 'ex-gratia' line did not mean a great deal to me, but it was obviously designed to suggest the parting of the ways had cost Rangers nothing. Again of course, it's not true. This guy has pocketed a lot of money to oversee calamitous financial running and even now gets to do nothing for a very generous sum. It probably had to be thus if he had a contract, but it's Rangers desire to suggest otherwise that tells us the entire exercise is cosmetic. I wonder if it will be in the year end figures under "negative goodwill"? 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 24, 2014 Share Posted January 24, 2014 I wonder if it will be in the year end figures under "negative goodwill"? The backhand bank account . 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 There could be more spin in there ?, how long was his contract actually for ?, is this just another full years salary on top off what he has already earned ? or is it fully paid up for "X" amount of years left on his contract ?. As far as I read it HB, he was on £400k, was due to pay back £200k of the bonus, and got £200k. However.......he has left all the positions of the other satellite companies, ie like ''The Club''................who knows what the pay off from those will total, and be hidden in the year ends 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 24, 2014 Share Posted January 24, 2014 Does this count as a one-off payment? 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted January 24, 2014 Share Posted January 24, 2014 You can just tell the orcs were ready to go full pelt on here, celebration time!!! Then good old Sutherland pops up with a bubble burster of a tweet. And there you have it, the company misleading shareholders (fans) again. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 428 replies on that thread already , and to a Bear they all think this will save them And a new thread needed for the falling penny.... 0 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 24, 2014 Share Posted January 24, 2014 As far as I read it HB, he was on £400k, was due to pay back £200k of the bonus, and got £200k. However.......he has left all the positions of the other satellite companies, ie like ''The Club''................who knows what the pay off from those will total, and be hidden in the year ends I do know that there can be legal loopholes in contractual arrangements !, Stockbridge could have had some countermeasure should he get fired or left that was pre-arranged in contractual terms and got paid through some other dodgy mechanism hidden in the accounts. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 (edited) I do know that there can be legal loopholes in contractual arrangements !, Stockbridge could have had some countermeasure should he get fired or left that was pre-arranged in contractual terms and got paid through some other dodgy mechanism hidden in the accounts. Under an agreement dated 7 December 2012 but effective on Admission, the Company shall employ Brian Stockbridge as a Finance Director of the Company for a salary of £200,000 per annum and all reasonable expenses properly incurred. Mr Stockbridge is also entitled to a bonus of 100 per cent. of his gross salary in the event that the Club wins promotion from the SFL or otherwise transfers to another football league or to another division within a league and to participate in any share option or other incentive scheme adopted by the Company The agreement is terminable by the Company either for cause or on 12 month’s notice and by Mr Stockbridge on 3 months’ notice. Edit to add...re earlier post of £400k salary, this looks to be £200k plus £200k bonus, less the bonus he agreed to pay back, so £200k pay off. Plus all his other directorships that don't need to be declared for payoffs Edited January 24, 2014 by phasma ex machina 0 Quote Link to comment Share on other sites More sharing options...
AberdeenBud Posted January 24, 2014 Share Posted January 24, 2014 I do know that there can be legal loopholes in contractual arrangements !, Stockbridge could have had some countermeasure should he get fired or left that was pre-arranged in contractual terms and got paid through some other dodgy mechanism hidden in the accounts. I should hope so. Quite a sad day all in all, the last of the New Gallant Pioneers who created Sevco 5088/Scotland have now departed and left the board of the New Rangers Football Club (Copyright W.Smith). Gone, but not forgotten. Mission Accomplished. 0 Quote Link to comment Share on other sites More sharing options...
phasma ex machina Posted January 24, 2014 Share Posted January 24, 2014 I should hope so. Quite a sad day all in all, the last of the New Gallant Pioneers who created Sevco 5088/Scotland have now departed and left the board of the New Rangers Football Club (Copyright W.Smith). Gone, but not forgotten. Mission Accomplished. Left the Board, but far far far from ''departed''.......................................... 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted January 24, 2014 Share Posted January 24, 2014 You can just tell the orcs were ready to go full pelt on here, celebration time!!! Then good old Sutherland pops up with a bubble burster of a tweet. And there you have it, the company misleading shareholders (fans) again. Can you, can you really? -1 Quote Link to comment Share on other sites More sharing options...
hellbhoy Posted January 24, 2014 Share Posted January 24, 2014 Under an agreement dated 7 December 2012 but effective on Admission, the Company shall employ Brian Stockbridge as a Finance Director of the Company for a salary of £200,000 per annum and all reasonable expenses properly incurred. Mr Stockbridge is also entitled to a bonus of 100 per cent. of his gross salary in the event that the Club wins promotion from the SFL or otherwise transfers to another football league or to another division within a league and to participate in any share option or other incentive scheme adopted by the Company The agreement is terminable by the Company either for cause or on 12 month’s notice and by Mr Stockbridge on 3 months’ notice. Edit to add...re earlier post of £400k salary, this looks to be £200k plus £200k bonus, less the bonus he agreed to pay back, so £200k pay off. Plus all his other directorships that don't need to be declared for payoffs In bold and in red ?, is this not the start of his contractual year ?, would this not suggest he has taken nearly a full years wages ?. 0 Quote Link to comment Share on other sites More sharing options...
dave.j Posted January 24, 2014 Share Posted January 24, 2014 Can you, can you really? Yes we, yes we can. -1 Quote Link to comment Share on other sites More sharing options...
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