Chrysler 2014 Annual Report Download - page 244

242 2014 | ANNUAL REPORT
Consolidated
Financial Statements
Notes to the Consolidated
Financial Statements
Commitments and Guarantees pledged in favor of related parties
Guarantees pledged in favor of related parties were as follows:
At December 31,
2014 2013
(€ million)
Joint ventures 11 6
Other related parties and CNHI ——
Unconsolidated subsidiaries 19
Total related parties guarantees 12 15
In addition, at December 31, 2014 and 2013, the Group had commitments for constitution, acquisition agreements
and capital increases in respect of Joint ventures for €3 million and €10 million, respectively. Additionally, with
reference to its interest in the joint venture Tofas, the Group had a take or pay commitment whose future minimum
expected obligations as of December 31, 2014 were as follows:
(€ million)
2015 82
2016 82
2017 85
2018 85
2019 80
2020 and thereafter 13
Emoluments to Directors, Statutory Auditors and Key Management
The fees of the Directors and Statutory Auditors of the Group for carrying out their respective functions, including
those in other consolidated companies, were as follows:
For the years ended December 31,
2014 2013 2012
(€ thousand)
Directors (a) 14,305 18,912 22,780
Statutory auditors of Fiat 186 230 229
Total emoluments 14,491 19,142 23,009
(a) This amount includes the notional compensation cost arising from stock grants granted to the Chief Executive Officer.
Additionally to the fees reported in the table above, in 2014 the Chief Executive Officer received a cash award of €24.7
million and was assigned a €12 million post-mandate award as a recognition he was instrumental in major strategic
and financial accomplishments for the Group. Most notably, through his vision and guidance, FCA was formed,
creating enormous value for the Company, its shareholders and stakeholders.
In 2014, Ferrari S.p.A. booked a cost of €15 million in connection with the resignation of Mr. Luca Cordero di
Montezemolo, as Chairman of Ferrari S.p.A., former Director of Fiat.
The aggregate compensation payable to executives with strategic responsibilities was approximately €23 million for
2014 (€30 million in 2013 and €34 million in 2012). This is inclusive of the following:
an amount of approximately €9 million in 2014 (approximately €15 million in 2013 and approximately €19 million in
2012) for short-term employee benefits;
an amount of €2 million in 2014 (€3 million in 2013 and €5 million in 2012) as the FCA’s contribution to State and
employer defined contribution pension funds;
an amount of approximately €0 million in 2014 (€1 million in 2013 and approximately €0 million in 2012) for
termination benefits.