Betfair CEO Breon Corcoran (pictured) has been given a £10m bonus for his role in turning around the online betting exchange.

Betfair recently issued its fiscal 2015 annual report, which revealed that Corcoran’s total pay packet came to £11,627,000, of which £10,064,000 was awarded in long-term incentives. The incentives were established when Corcoran joined Betfair in August 2012 after being lured away from rival Paddy Power.

In order for Corcoran to collect, Betfair’s performance had to exceed specific targets regarding revenue and earnings. Additionally, personal benchmarks included growing business profitability, customer acquisition and developing a “high performance culture.”

Betfair’s performance over the past year has been nothing if not exceptional, and the actual revenue and earnings performance easily exceeded their targets. As a result, Corcoran’s annual bonus came to £953k, or 179.57% of his annual salary.