Manulife Changes CEO's Pay Formula - 26 March 2010, Financial Post

Don Guloien has become the first Manulife chief executive to have a
chunk of his equity compensation linked to the company's capitalization
level.

Manulife disclosed Friday that like the major banks it has altered
its compensation formula to discourage short-term risk taking and better
align the interests of executives with shareholders.

As part of that North America's biggest insurer said that in 2009
it started calculating medium-term equity grants for its senior
executives partly based on the company's crucial Medium Continuing
Capital and Surplus Requirements ratio, or MCCSR.

According to regulatory filings, Mr. Guloien, who took over as
president and chief executive officer from Dominic D'Alessandro in May
2009, received $9.3-million in total direct compensation last year.

His pay included salary of $1.1-million, share-based awards of
$3.6-million and option awards of $3.6-million.