Porsche 2009 Annual Report Download - page 265
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265
Volkswagen AG has agreed to hold Porsche SE harmless for internal purposes from any
claims of the deposit guarantee fund agency after Porsche SE issued a hold harmless declaration
to the deposit guarantee fund agency as required by the Association of German Banks in August
2009. In addition, Volkswagen AG has undertaken to hold the deposit guarantee fund agency harm-
less from any losses incurred as a result of its measures in favor of a bank in which it holds the
majority.
The table below shows the supplies and services rendered and received between the Por-
sche SE group and its related parties as well as existing receivables and liabilities.
For members of the executive board and of the supervisory board, short-term employee
benefits of €6.6 million (prior year: €5.5 million) and post-employment benefits of €0.9 million (prior
year: €5.5 million) were paid out in the fiscal year 2009/10. No termination benefits were paid out
in the fiscal year 2009/10; they had amounted to €71.0 million in the prior year.
Post-employment benefits relate to additions to pension provisions for active members of
the executive board. As Porsche SE itself does not have any pension obligations to active members
of the executive board, the additions made in the fiscal year relate exclusively to services rendered
Supplies and Supplies and
services rendered services received
€ million 2009/10 2008/09 2009/10 2008/09
Porsche and Piëch families 1,568 1,721 65 126
Volkswagen AG (prior to initial consolidation) 0 183 0 527
Members of the executive board
and the supervisory board 0.0 0.5 0 0
Joint ventures 2,033 1,305 370 196
Associates 1,866 1,336 438 89
Pension plans 1.0 0 0.0 1
Non-consolidated subsidiaries 833 681 386 326
6,301 5,227 1,259 1,265
Receivables Liabilities
€ million 31/7/2010 31/7/2009 31/7/2010 31/7/2009
Porsche and Piëch families 0 217 0 12
Volkswagen AG (prior to initial consolidation) 0 0 0 0
Members of the executive board
and the supervisory board 0.0 0.1 0.0 0.3
Joint ventures 4,019 1,941 3,883 41
Associates 302 20 395 12
Pension plans 0 1 0 0
Non-consolidated subsidiaries 0 659 0 206
4,321 2,838 4,278 271