At the beginning of 2016, Atlas Ltd grants 2000 share options to each of its 50 most senior executives. The share options have a life of 5 years and will vest at the end of year 3 if the executives remain in service until then. The exercise price is $50 and Atlas Ltd's share price is also $50 at the grant date. As the company's share options have characteristics significantly different from those of other traded share options, the use of option-pricing models will not provide a reliable measure of fair value at grant date. The company's share price during years 1-3 is shown below. Estimated number of executives departing in each year Year 1 2 3 Share price at year- end 53 55 65 3 2 1 Number of executives remaining at year-end 46 44 43 Number of share options exercised at year-end 0 0 0 Required Calculate the annual and cumulative remuneration expense to be recognised by Atlas Ltd for each of the 3 years.