BMW 2011 Annual Report Download - page 171
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171 STATEMENT ON CORPORATE GOVERNANCE
in € million 2011 2010
Amount Proportion Amount Proportion
in % in %
Fixed compensation 1.6 35.6 1.6 51.6
Variable compensation
2.9 64.4 1.5 48.4
Total compensation
4.5 100.0 3.1 100.0
the Supervisory Board’s committees receives twice the
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
referred to above, the compensation is measured only
on the basis of the function which is remunerated with
the highest amount.
In addition, each member of the Supervisory Board re-
ceives an attendance fee of € 2,000 for each full meeting
of the Supervisory Board (Plenum) which the member
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.
Supervisory Board members did not receive any further
compensation or benefits from the BMW Group for
advisory and agency services personally rendered.
Compensation of the Supervisory Board for the
financial year 2011 (total)
In accordance with § 15 of the Articles of Incorporation,
the compensation of the Supervisory Board for activities
during the financial year 2011 amounted to € 4.5 mil-
lion (2010: € 3.1 million). This includes fixed
compen-
sation of € 1.6 million (2010: € 1.6 million) and variable
compensation of € 2.9 million (2010: € 1.5 million). As
a result of the earnings per share of € 7.45 (see note 18
to the Group Financial Statements), the stipulated up-
per limits for Supervisory Board variable compensation
were applied for the financial year ended 31 December
2011.