BMW 2010 Annual Report Download - page 162

160
140 STATEMENT ON
CORPORATE GOVERNANCE
(Part of Management Report)
140 Information on the Company’s
Governing Constitution
142 Declaration of the Board of
Management and of the
Supervisory
Board pursuant to
§ 161 AktG
143 Members of the Board of
Management
144 Members of the Supervisory Board
147 Information on Work Procedures
of the Management Board and
Supervisory Board
154 Compensation Report
162 Information on Corporate
Governance Practices
163 Compliance in the BMW Group
in euro million 2010 2009
Amount Proportion Amount Proportion
in % in %
Fixed compensation 1.6 51.6 1.6 100.0
Variable compensation 1.5 48.4 – –
Total compensation 3.1 100.0 1.6 100.0
amount and each member of a committee receives one
and a half times the amount of the remuneration of a
Supervisory Board member. If a member of the Super-
visory Board exercises more than one of the functions re-
ferred to above, the compensation is measured only on
the basis of the function which is remunerated with the
highest amount, thus avoiding amounts accumulating
when more than one function is exercised.
In addition, each member of the Supervisory Board re-
ceives an attendance fee of euro 2,000 for each full meet-
ing of the Supervisory Board (Plenum) which the mem-
ber has attended (payable at the end of the financial
year). Attendance at more than one meeting on the same
day is not remunerated separately.
The Company also reimburses to each member of the
Supervisory Board any value added tax arising on their
remuneration. The amounts disclosed below are net
amounts.
In order to be able to perform his duties, the Chairman
of the Supervisory Board is provided with secretariat and
chauffeur services.
Compensation of the Supervisory Board for the
financial year 2010 (total)
In accordance with Article 15 of the Articles of Incorpora-
tion, the compensation of the Supervisory Board for ac-
tivities during the financial year 2010 amounted to euro
Supervisory Board members did not receive any further
compensation or benefits from the BMW Group for
services performed by them, in particular advisory and
agency services. Market research into the premium
segment for cars in Germany, for which the Institut für
Demoskopie Allensbach had been engaged in 2009, was
completed in 2010 as agreed. Of the total fee of euro
79,600, the final instalment of euro 26,533 was incurred
in 2010. Since Prof. Dr. Renate Köcher is a member of
BMW AG’s Supervisory Board and a Director of the
Allensbach Institute, the Board of Management obtained
approval for the contract from the Supervisory Board’s
Personnel Committee in 2009 prior to signing the contract.
3.1 million (2009: euro 1.6 million). This comprised a
fixed component of euro 1.6 million (2009: euro 1.6 mil-
lion) and a variable component of euro 1.5 million
(2009: –), reflecting the fact that the relevant criteria
stipulated in the Articles of Incorporation were satisfied
again for the first time in two years (minimum EPS of
euro 2.30).