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2010/11 Annual Report Lenovo Group Limited
102
NOTES TO THE FINANCIAL STATEMENTS (continued)
10 Employee benefit costs
2011 2010
US$’000 US$’000
Wages and salaries (including provision for restructuring costs of
US$1,095,000 (2010: US$5,123,000)) 1,058,164 899,970
Social security costs 121,362 95,923
Long-term incentive awards granted (Notes 30(a)) 41,375 51,413
Pension costs
– Defined contribution plans 58,341 36,633
– Defined benefit plans (Note 37) 9,878 7,433
Others 142,098 90,647
1,431,218 1,182,019
The Group contributes to respective local municipal government retirement schemes which are available to all qualified
employees in the Chinese Mainland. Contributions to these schemes are calculated with reference to the monthly average
salaries as set out by the local municipal government.
The Group participates in various defined contribution schemes, either voluntary or mandatory, for all qualified employees.
The assets of those defined contribution schemes are held separately from those of the Group in independently administered
funds.
The Group also contributes to certain defined benefit pension schemes, details of which are set out in Note 37.
11 Emoluments of directors and highest paid individuals
(a) Directors’ and senior management’s emoluments
Directors’ emoluments comprise payments by the Group to directors of the Company in connection with the
management of the affairs of the Company and its subsidiaries. The remuneration of each director for the years ended
March 31, 2011 and 2010 is set out below:
2011
Name of Director Fees Salaries
Discretionary
bonuses
(note i)
Long-term
incentives
awards
(note ii)
Retirement
payments and
employer’s
contribution
to pension
schemes
Other
benefits-
in-kind Total
US$’000 US$’000 US$’000 US$’000 US$’000 US$’000 US$’000
Executive director
Mr. Yang Yuanqing –911 3,297 7,492 91 96 11,887
Non-executive directors
Mr. Liu Chuanzhi –460 805 2,178 – – 3,443
Mr. Zhu Linan 80 – – 127 – – 207
Ms. Ma Xuezheng 80 – – 229 – – 309
Mr. James G. Coulter 80 – – 148 – – 228
Mr. William O. Grabe 90 – – 209 – – 299
Dr. Wu Yibing 80 – – 105 – – 185
Independent non-executive
directors
Professor Woo Chia-Wei 80 – – 192 – – 272
Mr. Ting Lee Sen 80 – – 130 – – 210
Dr. Tian Suning 80 – – 112 – – 192
Mr. Nicholas C Allen 100 – – 76 – – 176
750 1,371 4,102 10,998 91 96 17,408