Audi 2015 Annual Report Download - page 283

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ADDITIONAL DISCLOSURES // EVENTS OCCURRING SUBSEQUENT TO THE BALANCE SHEET DATE
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50 / DETAILS RELATING TO THE SUPERVISORY
BOARD AND BOARD OF MANAGEMENT
The remuneration paid to members of the Board of Management
for the 2015 fiscal year totaled EUR 20,079 (24,908) thousand,
of which EUR 4,691 (4,939) thousand related to fixed remu-
neration components and EUR 15,388 (19,969) thousand to
variable components. There were obligations totaling EUR
13,000 (17,940) thousand as of the balance sheet date, for
which appropriate provisions have been created.
Disclosure has not been made of the remuneration paid to each
individual member of the Board of Management, by name,
pursuant to Section 314, Para. 1, No. 6a) of the German Com-
mercial Code (HGB), as the 2011 Annual General Meeting
adopted a corresponding resolution valid for a period of five
years.
Under certain circumstances, members of the Board of
Management are entitled to retirement benefits and a disability
pension. Allocations to provisions for pensions including trans-
fers totaled EUR 1,430 (16,287) thousand; pension provisions
as of December 31, 2015 totaled EUR 26,684 (33,882) thou-
sand. Other long-term benefits for this group totaled EUR
2 (4) thousand.
Former members of the Board of Management and their sur-
viving dependents received EUR 9,409 (8,017) thousand. This
included payments resulting from termination of office of EUR
6,877 (6,003) thousand, with regard to which there remained
obligations totaling EUR 7,421 (5,345) thousand as of the
balance sheet date. The provisions for pensions for the above
group of individuals amount to EUR 67,276 (67,868) thousand.
The members of the Board of Management and details of their
seats on other supervisory boards and regulatory bodies – as
defined in Section 285, No. 10 of the German Commercial Code
(HGB) and Section 125, Para. 1, Sentence 5 of the German
Stock Corporation Act (AktG) – are listed in the Notes to the
Annual Financial Report of AUDI AG.
The remuneration paid to the Supervisory Board of AUDI AG,
pursuant to Section 314, Para. 1, No. 6a) of the German Com-
mercial Code (HGB), is EUR 202 (1,417) thousand, of which
EUR 202 (208) thousand related to fixed components. The
level of the variable remuneration components is based on the
compensatory payment made for the 2015 fiscal year in accord-
ance with the applicable provision in the Articles of Incorpora-
tion and Bylaws. The compensatory payments were not yet
known at the time when the Annual Financial Statements were
concluded. In the previous year, compensatory payments
amounted to EUR 1,209 thousand.
The actual payment of individual parts of the total remunera-
tion, which will only be determined upon finalization of the
compensatory payment, will be made in the 2016 fiscal year
pursuant to Section 16 of the Articles of Incorporation and
Bylaws.
The system of remuneration for the Supervisory Board and
Board of Management is presented in the remuneration report,
which is a part of the Combined Management Report of the
Audi Group and AUDI AG.
EVENTS OCCURRING SUBSEQUENT
TO THE BALANCE SHEET DATE
There were no events after December 31, 2015 subject to a
reporting obligation in accordance with IAS 10.