Interesting reading that more managers are now chasing Equity Bank over their employee share option scheme.

Perhaps, the beginning of a class action suit against a corporate in Kenya - 6 employees, doesn't look good. But I note they all left last year and ESOP was approved in AGM this year.

Causes a lot of turmoil to staff holding such shares in Equity... and KenolKobil, Safaricom, AccessKenya etc?

http://www.businessdailyafrica....0/-/66pq40z/-/index.html

I'm eager to read next weeks report on The East African ''A special report on executive compensation in Kenya'' The highest and lowest paid management and the most expensive boards of listed firms

Problem with ESOP schemes is they may contain numerous clauses to prevent the employee from getting the shares when he or she is parting ways with the employer.

The most common is the number of years that you need to have been employed before getting the shares.

I think employees are excited about the ESOP scheme but there are alot of clauses that prevent them from deriving full benefits from it.

I think employees with existing ESOPs in place should use the Equity Bank saga as a test case to come up with 'what-if' scenarios if the same thing occurred to them like being sacked.

My thoughts...

@ youcnt.. How can u ask such a weak question? No one gets paid 25m per month in Africa

Actually I used the word 'appears to make' because based on the methodology the East African employed, annual report of Equity lists 299m as total pay for executives who site in the board of directors for 2009; as opposed to 197m for other senior executives not on the board, and 29m for total board fees for all directors.

The idea is that each individual can only fall in one of the three list. So on the list of executives who sit on the board, only James Mwangi was listed.

At face value, the 300m figure would be correct. Or perhaps there was a mistake in their computation of this figure. Hence the East Africa on leading page inserted '- 12 others' for more balance. On detailed table, things were left us in the annual report.