The gilt-edged rewards package which former Intel executive Dave Shrigley negotiated to head Wolfson Microelectronics includes numerous return trips to Edinburgh for his US-based spouse.

Should Shrigley's employment terminate, Wolfson has also agreed to pay his accommodation costs for two months and then foot the bill for his own return to the states.

Shrigley joined last November and took over from Wolfson founder David Milne as chief executive on March 1. The company's annual report discloses that he negotiated an eight-pronged joining package in addition to a basic salary of £225,000, a car, and private health cover.

This included a "golden hello" joining bonus of £127,038 in cash; an ongoing contribution to his housing costs; and payments for professional advice on finalising his employment terms and filling in his UK tax returns.

Wolfson revealed in December that Shrigley was made a deferred award of 181,159 shares, and options over a further 176,678 shares, more than two months before taking over the chief executive post.

Half the deferred shares will vest on November 27 next year, providing Shrigley is still in post, and the other half a year later. At the time of grant the shares were worth £501,871.

Shrigley will be entitled to a bonus of 100% of salary from next year subject to meeting certain performance criteria.

He is in line this year to get another contingent share award worth 25% of salary, some £56,250, under the company's long-term incentive plan, together with other share options worth £168,750.

Wolfson's remuneration committee said: "The committee gave careful consideration to the terms of (Shrigley's) remuneration package bearing in mind the need to recruit a high-calibre individual to the role, market practice, and the fact that Mr Shrigley was relocating to Edinburgh.

"The committee considered each element of his package as appropriate given the exceptional circumstances of his recruitment and subsequent retention of a new CEO."

David Milne, meanwhile, saw his pay package excluding pension contributions fall to £271,000 in 2006 from £365,000 the previous year. Total directors' pay fell to £813,000 from over £1.1m.

The transfer value of Milne's final salary pension pot increased by $1.2m in 2006 to $4.2m at December 31. This came after Milne received a 12.7% pay rise in April 2006 as compensation for becoming a deferred member of the pension scheme and the company ceasing to make contributions on his behalf.