WASHINGTON – MBNA Corp.’s former top executive received $27.3 million in restricted stock in 2003, compared with $20 million the previous year, according to a regulatory filing Monday.

Charles Cawley, who retired as president and CEO on Dec. 30, also received cash pay of $7.5 million in 2003, a 25 percent jump from the year before, according to the proxy statement.

His 2003 salary was unchanged at $3 million, but his bonus increased to $4.5 million from $3 million.

MBNA, the world’s largest credit card lender, is one of Maine’s largest employers with a work force of 3,700 at nine locations around the state.

The company also granted Cawley options for 1.5 million shares in 2003, compared with options for 3 million shares in 2002. The 2003 options expire in 2013 and have an exercise price of $20.58.

According to the Securities and Exchange Commission filing, the value on the grant date was $10.2 million.

Cawley didn’t exercise any options in 2003, but held 9.7 million options worth $36.7 million.

Under a consulting and noncompete agreement, Cawley will receive $2.5 million in 2004 and 2005.

Separately on Monday, MBNA said that British regulators are questioning the company regarding its policies on default charges, the fees banks assess on late, overlimit or returned checks.

British law prohibits default charges that exceed the “genuine pre-estimate” cost of the customer’s breach of contract, MBNA said in its annual report.

MBNA said that Britain’s Office of Fair Trading is conducting an industrywide investigation into default charges.

MBNA, which is based in Wilmington, Del., had 2002 revenue of $52.86 billion.

Bruce L. Hammonds succeeded Cawley as president and CEO.