BMW 2006 Annual Report Download - page 124

Compensation of the individual members of the Supervisory Board for the financial year 2006
2. Compensation of the Supervisory Board
Responsibilities, regulation pursuant to
Articles of Incorporation
The compensation of the Supervisory Board is de-
termined by shareholders’ resolution at the Annual
General Meeting. Compensation is currently based
on shareholders’ resolutions taken at the Annual
General Meeting on18 May 1999 and §15 of the
Articles of Incorporation of BMW AG. The Articles
of Incorporation of BMW AG can be accessed via
the Internet.
Components of compensation
In addition to the reimbursement of expenses, each
member of the Supervisory Board receives a fixed
amount of euro 6,000 (payable after the end of the
financial year), and a variable amount of euro 1,500
for each percent of the dividend resolved by the
shareholders at the Annual General Meeting in ex-
cess of 4% of the company’s share capital (common
stock). The Chairman of the Supervisory Board re-
ceives three times this amount and each deputy
receives two times this amount. The company also
reimburses to the member of the Supervisory Board
any value added tax arising on their remuneration.
in euro million 2006 2005
Amount Proportion Amount Proportion
Fixed compensation 0.1 3.7 % 0.1 4.0 %
Variable compensation 2.6 96.3% 2.4 96.0 %
Total compensation 2.7 100% 2.5 100 %
Compensation of the Supervisory Board for the
financial year 2006 (total)
On the basis of the proposed dividend, the compen-
sation of the Supervisory Board for activities during
the financial year 2006 amounted to euro 2.7 million
(2005: euro 2.5 million). This comprised a fixed
component of euro 0.1 million (2005: euro 0.1 mil-
lion) and a variable component of euro 2.6 million
(2005: euro 2.4 million).
None of the members of the Supervisory Board
performed advisory, agency or other services for
the BMW Group in a personal capacity in 2006. In
consequence, no additional compensation was paid.
It is BMW Group’s policy and practice, not to enter
into contractual relationships with members of the
123
in euro Fixed Variable Total
compensation
1]
l compensation
2]
Joachim Milberg (Chairman) 18,000 297,000 315,000
Manfred Schoch (Deputy Chairman) 12,000 198,000 210,000
Stefan Quandt (Deputy Chairman) 12,000 198,000 210,000
Konrad Gottinger (Deputy Chairman) 12,000 198,000 210,000
Hans-Dietrich Winkhaus (Deputy Chairman) 12,000 198,000 210,000
Volker Doppelfeld
3]
2,238 36,888 39,126
Ulrich Eckelmann 6.000 99,000 105,000
Bertin Eichler 6,000 99,000 105,000
Werner Eisgruber 6,000 99,000 105,000
Franz Haniel 6,000 99,000 105,000
Arthur L. Kelly 6,000 99,000 105,000
Susanne Klatten 6,000 99,000 105,000
Willibald Löw 6,000 99,000 105,000
Hubert Markl 6,000 99,000 105,000
Wolfgang Mayrhuber 6,000 99,000 105,000
Heinz-Joachim Neubürger
4]
3,780 62,384 66,164
Werner Neugebauer 6,000 99,000 105,000
Franz Oberländer 6,000 99,000 105,000
Anton Ruf 6,000 99,000 105,000
Jürgen Strube 6,000 99,000 105,000
Werner Zierer 6,000 99,000 105,000
Total 156,018 2,574,272 2,730,290
1]In accordance with §15 of the Articles of Incorporation, the fixed compensation is paid after the end of the financial year.
2]Calculation based on dividend proposal of the Board of Management and Supervisory Board. The variable compensation for the financial year 2006 will be paid following the
resolution of the shareholders at the Annual General Meeting 2007 regarding the utilisation of unappropriated profit.
3]Member of the Supervisory Board until 16 May 2006.
4]Member of Supervisory Board from 16 May 2006.