Chrysler 2009 Annual Report Download - page 318

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The contractual terms of the plan are as follows:
Plan Recipient Number of shares Vesting date Vesting portion
Stock Grant 2009 Chief Executive Officer 2,000,000 1st Quarter 2010 (*) 25%*NMC
1st Quarter 2011 (*) 75%*NMC
(*) On approval of the prior year’s Consolidated Financial Statements, subject to the continuation of the position held.
For this incentive plan, the fair value used to determine the notional cost at the grant date was based on the price of Fiat S.p.A. ordinary shares at that date
of €5.26 per share.
The total cost recognised in the 2009 income statement for this plan amounted to €5,634 thousand.
Finally, the following shows availability of share capital and reserves:
Availability for use of main equity items
At Possible Available
(€ thousand) 31 December 2009 use amount
Share capital 6,377,263 -
Reserves:
Additional paid-in capital 1,540,885 A, B, C (*) 1,540,885
Legal reserve 699,460 B -
Reserve available for the purchase of treasury shares 1,142,740 A, B, C 1,142,740
Reserve for treasury shares in portfolio 656,553 - -
Reserve for Spin-off difference 39,194 A, B, C 39,194
Reserve under law 413/1991 22,591 A, B, C 22,591
Extraordinary reserve 28,044 A, B, C 28,044
Retained profit/(loss) 2,198,994 A, B, C 2,198,994
Key:
A: capital increase
B: coverage of losses
C: dividend
(*) Fully available to increase capital and cover losses. Any other use requires an increase of the legal reserve up to 20% of share capital (this may also be carried out by making a transfer from additional
paid-in capital itself). The increase required at 31 December 2009 would be €575,993 thousand.
20. Provisions for employee benefits and other non-current provisions
At 31 December 2009, provisions for employee benefits and other non-current provisions amounted to €25,441 thousand, a net decrease of €977
thousand over 31 December 2008, and consisted of:
At At
(€ thousand) 31 December 2008 Accruals Utilisations Other changes 31 December 2009
Provisions for employee benefits and similar provisions 25,163 2,256 (2,459) (764) 24,196
Other non-current provisions 1,255 - (10) - 1,245
Total provisions for employee benefits and
other non-current provisions 26,418 2,256 (2,469) (764) 25,441
Provisions for employee benefits and similar provisions
The Company provides post-employment benefits for its employees, either directly or by contributing to independently administered funds.
The benefits are generally based on the employees’ remuneration and years of service. The obligations relate both to active employees and to retirees.