Mercedes 2013 Annual Report Download - page 120

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Departing Board of Management members with pension agree-
ments modified as of the beginning of 2006 receive, for the
period beginning after the end of the original service period and
for the last time upon reaching the age of 60, payments in
the amounts of the pension commitments granted as described
in the previous section. Departing Board of Management
members are also provided with a company car, in some case
for a defined period. These payments are made until the age
of 60, possibly reduced due to other sources of income, and are
subject to annual percentage increases described above
in the explanation of these pension agreements.
Service costs for pension obligations according to IFRS
amounted to €2.5 million in 2013 (2012: €2.4 million). The present
value of the total defined benefit obligation according to IFRS
amounted to €70.1 million at December 31, 2013 (December 31,
2012: €81.7 million). Taking age and period of service into
account, the individual entitlements, service costs and present
values are shown in the table.
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Commitments upon early termination of service. In the case
of early termination of a service contract without an important
reason, Board of Management service contracts include com-
mitments to payment of the base salary and provision of a
company car until the end of the original service period at a maxi-
mum. Such persons are only entitled to payment of the per-
formance-related component of remuneration pro rata for the
period until they leave the Company. Entitlement to payment
of the performance-related component of remuneration with
a long-term incentive effect is defined by the conditions
of the respective plans.
The total of the payments described above including fringe
benefits is limited to double the annual remuneration and may
not exceed the total remuneration for the remaining period
of the service contract.
Sideline activities of Board of Management members.
The members of the Board of Management should accept
management board or supervisory board positions and/or any
other administrative or honorary functions outside the Group
only to a limited extent. Furthermore, they require the consent
of the Supervisory Board before commencing any sideline
activities. This ensures that neither the time required nor the
remuneration paid for such activities leads to any conflict
with the members’ duties to the Group. Insofar as such sideline
activities are memberships of other statutory supervisory
boards or comparable boards of business enterprises, they
are disclosed in the notes to the annual company financial
statements of Daimler AG and on our website. In general, Board
of Management members have no right to separate remuner-
ation for board positions held at other companies of the Group.
Loans to members of the Board of Management.
In 2013, no advances or loans were made to members
of the Board of Management of Daimler AG.
Payments made to former members of the Board of
Management of Daimler AG and their survivors. Payments
made in 2013 to former members of the Board of Management
of Daimler AG and their survivors amounted to €14.6 million
(2012: €15.4 million). Pension provisions for former members
of the Board of Management and their survivors amounted
to €217.0 million at December 31, 2013 (2012: €225.9 million).
Individual entitlements, service costs and present values for members of the Board of Management
Annual pension
(as regulated
until 2005)
as of age 60
Service cost
(for pension,
pension capital and
Daimler Pensions Plan)
Present value
of obligations
(for pension,
pension capital and
Daimler Pensions Plan)
In thousands of euros
Dr. Dieter Zetsche 2013
2012
1,050
1,050
–
872
29,896
39,597
Dr. Wolfgang Bernhard 2013
2012
–
–
401
265
1,774
1,494
Wilfried Porth 2013
2012
156
156
223
156
6,579
6,472
Andreas Renschler 2013
2012
250
250
423
309
9,798
10,243
Hubertus Troska 2013
2012
–
–
272
5
2,488
2,227
Bodo Uebber 2013
2012
275
275
714
510
10,127
9,974
Prof. Dr. Thomas Weber 2013
2012
300
300
426
333
9,444
11,701
Total 2013
2012
2,031
2,031
2,459
2,450
70,106
81,708
Dr. Hohmann-Dennhardt has no entitlement to a company retirement benefit.
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