Porsche 2009 Annual Report Download - page 28

The board of management and supervisory
board of Volkswagen AG also declared that the rec-
ommendations of the code as of 18 June 2009 were
complied with in full, with the exception of No. 3.8 (2)
(deductible in D&O insurance), No. 4.2.3 (2) sen-
tences 2 and 3 (comparison parameters for variable
compensation) and No. 4.2.3 (3) and (4) (severance
payment cap). In future, it is intended to comply with
these recommendations, and with No. 3.8 (2) from 1
January 2010. The declaration of compliance can be
found on the web page www.volkswagenag.com/ir,
under the header Corporate Governance, and the
menu item declaration of compliance.
AUDI AG
In their declaration of compliance with the German
Corporate Governance Code dated 23 November
2009, the executive board and supervisory board of
AUDI AG declared that, until the publication of the new
version on 5 August 2009, the recommendations of
the code as amended in 6 June 2008 were complied
with, with the exception of No. 4.2.3 (4) and (5) (sev-
erance payment cap), No. 5.3.3 (nomination commit-
tee), 5.4.3 sentence 1 (elections to the supervisory
board on an individual basis) and No. 5.4.6 (3) sen-
tence 1 (individual reporting of compensation of
members of the supervisory board, subdivided ac-
cording to components).
The executive board and supervisory board of AUDI
AG also declared that after 5 August 2009 the rec-
ommendations of the code as of 18 June 2009 were
and are complied with, with the exception of No. 3.8
(2) sentence 2 (deductible in D&O insurance for the
supervisory board), No. 4.2.3 (2) sentences 2 and 3
(comparison parameters for variable compensation),
No. 4.2.3 (3) and (4) (severance payment cap), No.
5.3.3 (nomination committee) and No. 5.4.3 sentence
1 (elections to the supervisory board on an individual
basis). It is intended to take No. 3.8 (2) sentence 2
into consideration from 1 January 2010. No. 4.2.3 (3)
and (4) will be taken into consideration in the future.
The declaration of compliance can be found on the
internet at www.audi.de/cgk-erklaerung.
Porsche Automobil Holding SE
Supervisory board and executive board
28 Corporate governance report