Reebok 2008 Annual Report Download - page 36

032 To Our Shareholders Compensation Report
Pension fund and pension trust fund cover pension entitlements
In 2008, a total contribution of € 545,219 was made for all active Executive Board members into
an external pension trust fund. For future pension entitlements of our Executive Board mem-
bers, adidas AG has established pension reserves. In the Consolidated Balance Sheet drawn up
in accordance with IFRS, 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.
Commitments to Executive Board members upon end of tenure
In the event of adidas AG deciding not to renew the employment contract although the Executive
Board member would be willing to continue his function as Executive Board member under the
existing conditions, the respective Executive Board member receives an individually agreed sev-
erance payment in the amount of 100% 3) of the fi xed annual salary. Individual contracts providing
for severance payments in case of premature termination of their employment agreements have
not been concluded with the members of the Executive Board. If an Executive Board member
dies during his term of offi ce, his spouse will receive a one-time payment amounting to 25% of
his fi xed annual salary.
A post-contractual competition prohibition period of six months has been agreed upon with the
Executive Board member Glenn Bennett according to which adidas AG is obliged to pay compen-
sation of 100% of the fi xed annual salary.
No loans granted to Executive Board members
As in the years before, the members of the Executive Board did not receive any loans or advance
payments of future compensation components from adidas AG in 2008.
Miscellaneous
Our Executive Board members do not receive any additional compensation for mandates held
within the adidas Group.
In the event of claims raised against members of the Executive Board for indemnifi cation of
losses incurred in connection with their managerial acts and omissions, the adidas Group’s
directors’ and offi cers’ group liability insurance covers the personal liability of the Executive
Board members but does not provide for a deductible see Corporate Governance Report, p. 026.
Pension payments to former Executive Board members
In the fi nancial year 2008, pension payments to former Executive Board members amounted to
€ 1.735 million (2007: € 1.727 million). Total pension provisions for pension entitlements of this
group of persons amount to € 36.422 million (2007: € 37.576 million).
3) For Robin J. Stalker the severance payment amounts to 50% of the fi xed annual salary.
Payments to the pension trust fund
€ in thousands
2008 2007
Herbert Hainer (CEO and Chairman) 240 240
Glenn Bennett 82 82
Robin J. Stalker 120 120
Erich Stamminger 103 103
Total 545 545
Costs for accrued pension entitlements of Executive Board members 1)
€ in thousands
2008 2007
Herbert Hainer (CEO and Chairman) 173 215
Glenn Bennett 52 68
Robin J. Stalker 126 161
Erich Stamminger 77 96
Total 428 540
1) This also includes service costs which have arisen with regard to the provisions for pension
obligations in the Consolidated Income Statement according to IFRS.