Mercedes 2015 Annual Report Download - page 122

B | COMBINED MANAGEMENT REPORT | REMUNERATION REPORT 129
Service costs for pension obligations according to IFRS amounted
to €3.5 million in 2015 (2014: €2.8 million). The present value
of the total defined benefit obligation according to IFRS amounted
to €80.0 million as of December 31, 2015 (December 31, 2014:
€80.5 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 without an important reason,
Board of Management service contracts include commitments
to payment of the base salary and provision of a company car
until the end of the original service period at a maximum. Such
persons are only entitled to payment of the annual bonus
pro rata for the period until the end of the contract of service
or of the Board of Management membership takes effect.
Entitlement to payment of the performance-related component
of remuneration with a long-term incentive effect that has
already been allocated is defined by the conditions of the respec-
tive plans. To the extent that the payments described above
are subject to the provisions of the so-called severance cap
of the German Corporate Governance Code, their total 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 state-
ments of Daimler AG and on our website. In general, Board of
Management members have no right to separate remuneration
for board positions held at other companies of the Group.
Loans to members of the Board of Management
In 2015, 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 2015 to former members of the Board
of Management of Daimler AG and their survivors amounted
to €15.5 million (2014: €16.8 million). Pension provisions
for former members of the Board of Management and their
survivors amounted to €235.2 million as of December 31, 2015
(2014: €263.0 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 value2 of
obligations
(for pension,
pension capital and
Daimler Pensions Plan)
In thousands of euros
Dr. Dieter Zetsche 2015
2014
1,050
1,050
1,044
827
37,925
39,238
Dr. Wolfgang Bernhard 2015
2014
–
–
448
380
2,491
2,565
Ola Källenius 2015
2014
–
–
117
–
1,690
–
Wilfried Porth 2015
2014
156
156
281
220
8,070
8,788
Andreas Renschler12015
2014
–
225
–
30
–
–
Hubertus Troska 2015
2014
–
–
342
314
3,159
3,321
Bodo Uebber 2015
2014
275
275
834
676
14,538
14,148
Prof. Dr. Thomas Weber 2015
2014
300
300
419
333
12,178
12,454
Total 2015
2014
1,781
2,006
3,485
2,780
80,051
80,514
1 Mr. Renschler proportionately until January 28, 2014.
2 The amounts of the present values are primarily due to the low level of the relevant discount rate.
Dr. Hohmann-Dennhardt has no entitlement to a company retirement benefit.
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