ING Direct 2011 Annual Report Download - page 88

REMUNERATION SUPERVISORY BOARD
The annual remuneration of the Supervisory Board members as
adopted by the General Meetings in 2006 and 2008 amounts to:
chairman EUR 75,000, vice-chairman EUR 65,000, other members
EUR 45,000. In addition to the remuneration each member receives
an expense allowance. For the chairman and vice-chairman the
annual amount is EUR 6,810. For the other members the amount
isEUR 2,270.
The remuneration for the membership of committees is as follows:
chairman of the Audit Committee EUR 8,000, members of the
Audit Committee EUR 6,000, chairmen of other Supervisory Board
committees EUR 7,500 and members of other Supervisory Board
committees EUR 5,000. In addition to the fixed remuneration,
committee members receive a fee for each meeting they attend.
Forthe Audit Committee chairman this fee is EUR 2,000 per
meeting and for its members EUR 1,500. For the chairman and
members of other committees the attendance fee amounts to
EUR450 per meeting.
Supervisory Board members receive an additional fee of EUR 2,000
per attended Supervisory Board or Committee meeting in the
event themeeting is held outside the country of residence of the
Supervisory Board member, or an additional amount of EUR 7,500
per attended Supervisory Board or Committee meeting if
intercontinental travel is required for attending the meeting.
2011 REMUNERATION SUPERVISORY BOARD
In 2009 and 2010 the chairman and vice-chairman of the
Supervisory Board did not receive remuneration and attendance
fees associated with committee membership. As announced in the
2010 Annual Report, effective 2011, the chairman and vice-
chairman of the Supervisory Board did receive compensation for
committee attendance. In 2011 more meetings were called than
scheduled.
Jeroen van der Veer and Peter Elverding have voluntarily requested
a lower level of compensation than their annual remuneration as
adopted by the AGM and to cap the annual remuneration relating
to 2011 at EUR 100,000 and EUR 90,000 respectively, inclusive
attendance fees. At their request, the excess amounts of
EUR 14,000 and EUR 13,000 respectively will be deducted from
their compensation relating to 2012. In 2012 their compensation
will also be capped at the aforementioned levels.
The table below shows the remuneration, expense allowances
andattendance fees per Supervisory Board member for 2011
andprevious years.
Compensation of the members of the Supervisory Board
amounts in thousands of euros 2011 (1) 2010 (1) 2009 (1) (1) In 2010 and 2009 the remuneration and attendance fees for the
membership of a committee have not been paid to the chairman and
vice-chairman of the Supervisory Board. Effective 2011 remuneration
andattendance fees for the membership of a committee are paid to the
chairman and vice-chairman of the Supervisory Board.
(2) Jeroen van der Veer has been chairman of the Supervisory Board since
May 2011. From October 2009 until May 2011 he was vice-chairman of
the Supervisory Board.
(3) Jeroen van der Veer is a member of the Supervisory Board as of July 2009.
The compensation figure for 2009 reflects the partial year as a member
ofthe Supervisory Board.
(4) In 2012 compensation will be capped at EUR 100,000 and EUR 90,000
for the chairman and vice-chairman respectively. Please see the
paragraph above the table.
(5) Peter Elverding was chairman of the Supervisory Board from April 2009
until May 2011. He has been vice-chairman since May 2011.
(6) Tineke Bahlmann is a member of the Supervisory Board as of April 2009.
The compensation figure for 2009 reflects the partial year as a member of
the Supervisory Board.
(7) Claus Dieter Hoffmann retired in June 2011. The compensation figure for
2011 reflects the partial year as a member of the Supervisory Board. He
did not receive any compensation in relation to 2011.
(8) Godfried van der Lugt retired in January 2011. He did not receive any
compensation in relation to 2011.
(9) Joan Spero retired in June 2011. The compensation figure for 2011 reflects
the partial year as a member of the Supervisory Board.
(10) Jackson Tai retired in January 2011. He did not receive any compensation
in relation to 2011.
(11) Lodewijk de Waal is a member of the Supervisory Board as of April 2009.
He acted as an observer in the Supervisory Board as of November 2008
until his appointment to the Board in April 2009. The compensation figure
for 2009 reflects the partial year as a member of the Supervisory Board.
Up to the appointment date Lodewijk de Waal has received remuneration,
expense allowances and attendance fees in line with the remuneration of
the Supervisory Board.
(12) Sjoerd van Keulen, Joost Kuiper and Luc Vandewalle are members of the
Supervisory Board as of May 2011. The compensation figures for 2011
reflect the partial year as members of the Supervisory Board.
Jeroen van der Veer (2) (3) 114 (4) 74 35
Peter Elverding (5) 103 (4) 84 79
Tineke Bahlmann (6) 70 69 46
Henk Breukink 71 69 61
Claus Dieter Hoffmann (7) 30 74 78
Piet Klaver 72 68 65
Godfried van der Lugt (8) 069 67
Aman Mehta 126 114 113
Joan Spero (9) 47 104 105
Jackson Tai (10) 0139 152
Lodewijk de Waal (11) 71 66 50
Sjoerd van Keulen (12) 49
Joost Kuiper (12) 46
Luc Vandewalle (12) 58
Compensation of former members of the Supervisory Board who are not included in the above table amounted to nil in 2011,
EUR 80 thousand in 2010 and EUR 277 thousand in 2009.
86 ING Group Annual Report 2011
Remuneration report continued