Reebok 2007 Annual Report Download - page 37

033
ANNUAL REPORT 2007 --- adidas Group
01
SUPERVISORY BOARD MEMBERS’ COMPENSATION
i
n
€
200
7 2006
Dr. Hans Friderichs 1) 33
,
04
6
31,500
Igor Landau 2)
22
,54
6
21,000
Fritz Kammerer
3
1,50
0
31,500
Sabine Bauer 21
,
00
0
21,000
Dr. Manfred Gentz
2
1,
000
21,000
Roland Nosko
2
1,
000
21,000
Hans Ruprecht 21
,
00
0
21,000
Willi Schwerdtle
2
1,
000
21,000
Heidi Thaler-Veh
2
1,
000
21,000
Christian Tourres 21
,
00
0
21,000
Klaus Weiß
2
1,
000
21,000
Dr. Stefan Jentzsch 3)
3
,09
2
0
Henri Filho 4) 35
,
81
6
42,000
Total 294,000 294,000
1)
Dr. Hans Friderichs was elected Chairman of the Supervisory Board on November 7, 2007
f
or the remaining term of offi ce until the Annual
G
eneral Meeting of adidas A
G
in May
2009.
2
) Igor Landau was elected additional Deputy Chairman of the Supervisory Board
o
n November 7, 2007 for the remainin
g
term of offi ce until the Annual General Meetin
g
o
f adidas AG in Ma
y
2009.
3)
Dr. Stefan Jentzsch, previously a substitute member of the Supervisory Board, became
a
full member on November 7,
200
7 for the remaining term of offi ce until the Annual
G
eneral Meeting of adidas AG in May 2009.
4)
Henri Filho retired as a member and Chairman of the Supervisory Board
o
n November 7
,
200
7
.
PENSION FUND AND PENSION TRUST FUND USED TO COVER PENSION ENTITLEMENTS For the settlement of the pension
entitlements acquired by our current Executive Board members through the end of 2006, adidas AG made a one-time payment of
€ 8.675 million into a pension fund in 2006. This refl ected the cash value of future pension entitlements and shall be split among
our Executive Board members in proportion to the existing provisions for pension obligations as at that date. adidas AG made
payments for pension entitlements arising as of 2007 into an external pension trust fund and plans to continue this practice in
the future. In 2007, a total contribution of € 545,219 was made. For future pension entitlements of our Executive Board members,
adidas AG has established pension reserves. In the Consolidated Balance Sheet, plan assets which have arisen from the payments
into the pension fund or pension trust fund are reported on a settled basis with assets offset against accruals.
PENSIONS FOR FORMER EXECUTIVE BOARD MEMBERS In 2007, former Executive Board members received pension payments
totaling € 1.727 million (2006: € 1.906 million). Total pension provisions for pension entitlements of this group of persons amount
to € 37.576 million (2006: € 42.105 million).
NO LOANS TO EXECUTIVE BOARD MEMBERS No members of the Executive Board were granted loans in 2006 and 2007.
SU
PERVI
SO
RY B
O
ARD
CO
MPEN
S
ATI
O
N
COMPENSATION IN 2007 Supervisory Board compensation consisted of a fi xed annual payment amounting to € 21,000 for each
member. Twice this amount was paid to the Chairman and one and a half times this amount was paid to each Deputy Chairman. In
addition, all costs and expenses related to attending Supervisory Board meetings were reimbursed. Supervisory Board members
who were not in offi ce for the entire fi scal year received a pro rata payment based on the number of days served. This also applied
for the Chairman of the Supervisory Board and his Deputies.
COMPENSATION REDEFINED IN ARTICLES OF ASSOCIATION AS OF 2008 Supervisory Board compensation was resolved upon and
newly structured by a resolution of the Annual General Meeting on May 10, 2007. The new regulation becomes effective in 2008.
Fixed annual payments will be increased to refl ect increasing supervisory functions of the Supervisory Board. The regulation also
provides for additional compensation for membership in and chairmanship of particular Supervisory Board committees. With this
change, we follow an additional recommendation of the German Corporate Governance Code.
COMPENSATION FOR ADVISORY CONTRACTS adidas AG had a project-related, fi xed-term advisory contract with
Dr. Hans Friderichs, which ended on June 30, 2007. Under this contract, Dr. Hans Friderichs received remuneration amounting
to € 195,000 (2006: € 213,386). Henri Filho, who was paid € 285,100 in 2006, did not receive any remuneration for project-related
advisory services in 2007 following the expiration of his advisory contract at the end of 2006.
NO LOANS TO SUPERVISORY BOARD MEMBERS No members of the Supervisory Board were granted loans in 2006 and 2007.
2) For Robin Stalker, the severance payment amounts to 50 %.
3) Herbert Hainer and Erich Stamminger were both appointed on April 1, 1997. Robin Stalker was appointed on January 1, 2001. For Glenn Bennett, January 1, 2000,
instead of his appointment date (April 1, 1997), is used for the calculation of his pension entitlement. The base amount totals 20 % of the pension entitlement.