White's compensation package, which included a basic salary of £506,000 and helped tip the group into the red, was revealed in documents outlining a £60m bid for the company from Musgrave.
White and three other directors accepted £2 million in return for dropping a bonus package that would have handed them half the proceeds from a takeover. The payout is not included in last year's accounts.
In addition, four directors were paid £7.1 million last summer in compensation for changes to their contracts, and White received more than half of the sum. White has now stepped down from the board, but he is still paid £22,000 a month in consultancy fees for a three-day week under a contract is due to expire in March 2005.
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