I can't give a simple answer to this one. Morally of course it stinks, and we are I'm sure, all glad that he has caved into political pressure not to take it. The irony of this one being however, is that it was the Labour party who created this agreement in the first place. It raises a bigger issue however, he signed a legally binding contract, and that was part of the deal, like it or not. How would any of us feel if one party to a contract we had signed decided not to pay 50% of it? Angry and annoyed , and probably reaching for legal advice. To be fair to him, he has turned things around at the bank, it's not a glowing success, but it's not the basket case it was.
I think today has now brought a bigger piece of news with that inept swine Goodwin, who brought RBS to it's knees, then ran off with millions, and has now been stripped of his peerage - a very minor slap in the face. I think they should be considering legal action against him for gross incompetence, as most of the money he took was in bonus. Just think about that, he destroys a perfectly good business, and gets a bonus. That is a far bigger story for me.
You see he is one of those people we kept getting told about, that need a few million a year as they are so good, hmmmm.