Mercedes 2009 Annual Report Download - page 162

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of Management remuneration at Daimler AG features a very high
variable component, which means that the Board of Management
is exposed to a higher level of risk. With its emphasis on the
long-term components of remuneration and the longstanding oblig-
ation of the Board of Management members to hold Daimler
shares and thus to invest a part of their private assets in Daimler,
the remuneration system was oriented towards sustainability
at an early stage. The Supervisory Board intends to submit the
remuneration system to a vote of approval at the Annual Meeting
in April 2010. As in the past, the Supervisory Board will continue
to carefully monitor developments in the German market, in partic-
ular at the DAX-30 companies and at Daimler’s international
competitors, and will deal with the issue of remuneration again
whenever this becomes necessary.
Board of Management remuneration in 2009
Total Board of Management remuneration in 2009. The total
remuneration granted by Group companies to the members of the
Board of Management of Daimler AG is calculated as the total of
the amounts of remuneration paid in cash (base salary and annual
bonus), the value of the share-based remuneration at the time
when granted in February 2008 and 2009 (Performance Phantom
Share Plan – PPSP) and taxable non-cash benefits. The share
price relevant for the value of the PPSP in four years’ time can sig-
nificantly deviate from the share price relevant when granted.
Total remuneration comprises €4.8 million as fixed, i.e. non-per-
formance-related remuneration (2008: €6.2 million); €1.8 million
as short-term variable remuneration, i.e. short-term performance-
related remuneration (2008: €1.5 million); and €5.2 million as
variable performance-related remuneration with a long-term incen-
tive effect granted in 2009 (2008: €8.9 million). This adds up
to a total of €11.8 million for the year 2009 (2008: €16.6 million).
1,530
1,530
382
575
575
660
660
545
545
148
545
187
560
4,027
4,415
2009
2008
2009
2009
2008
2009
2008
2009
2008
2009
2008
2009
2008
2009
2008
- 153
- 53
- 58
- 66
- 55
- 385
689
494
172
305
207
297
233
245
199
45
199
56
203
1,809
1,535
114,967
50,164
51, 317
22,392
54,975
23,988
48,809
21,297
21,297
20,613
270,068
159,751
2,164
2,799
966
1,250
930
1,339
919
1,186
216
1,188
1,150
5,195
8,914
4,230
4,823
501
1,788
2,032
1,821
2,232
1,654
1,932
409
1,932
243
1,913
10,646
14,864
in thousands of €
Board of Management remuneration 2009
Number
Waived
remuneration
Base salary Total
Dr. Dieter Zetsche
Wilfried Porth
Andreas Renschler
Bodo Uebber 1
Dr. Thomas Weber
Günther Fleig 2
Dr. Rüdiger Grube 3
Total
1 The PPSP value reflects the deducation of compensation in the amount of €104,500 received in his capacity as a member of the board of directors of an equity
investee.
2 The PPSP value corresponds to the payout terms in the year of his withdrawal.
3 The PPSP value corresponds to the payout terms in the year of his withdrawal. The PPSP value also reflects the deduction of compensation in the amount of
€108,000 received in his capacity as a member of the board of directors of an equity investee.
Short-term varia-
ble remuneration
(annual bonus) Value when granted
(2009: at share price €18.82)
(2008: at share price €55.80)
Long-term variable remuneration
(PPSP)