The options granted under two different remuneration schemes can be exercised three years from the time of Lerwill's appointment.
Lerwill received 1.5m share options at an exercise price of 105p, the share price on March 8, worth £1.575m. These, and another 1m share options under a separate scheme, are dependent on certain performance conditions.
Previously a non-executive director of Aegis, he signalled that there will be no major strategy changes after taking over from Flynn. The group owns the media agencies Carat and Vizeum, as well as several research companies under the Synovate banner.
Aegis recently announced its 2004 annual results, revealing organic growth of 8% and pre-tax profit up 22.5% to £93.9m.
Lerwill was formerly the group finance director at WPP, where he worked between 1986 and 1996.
He subsequently joined Cable & Wireless as the telecoms giant's group finance director. He went on to run C&W's regional division and since leaving the company has held non-executive positions at Aegis, British American Tobacco and Synergy Healthcare.
Flynn left the company to take up the chief executive position at hygiene and security company Rentokil Initial.
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