Airbus 2015 Annual Report Download - page 172

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 140 l
Corporate Governance
4.2 Interests of Directors and Principal ExecutiveOfficers
h)Retirement
As of 31December 2015, the present value of the CEO’s pension
defined benefit obligation including deferred compensation
amounted to € 17,118,048 vs. 18,584,426 a year ago. While
the plan benefits remain identical, the present value of the
pension obligation was calculated applying a 1.9% discount
rate in 2014 compared to a 2.3% discount rate in 2015, which
mainly explains the change in value. For the fiscal year2015, the
current service and interest costs related to the CEO’s pension
promise represented an expense of € 1,079,861. This obligation
has been accrued in the Consolidated Financial Statements.
The defined benefit obligation for the CEO’s Company pension
results from the Company’s pension policy as described above
and takes into account (i)the seniority of the CEO in the Company
and on its Group Executive Committee and (ii)the significantly
lower public pension promise deriving from the German social
security pension system, compared to a pension resulting from
membership in the French pension system.
i)Clawback
The Board has not applied any claw back in 2015.
4.2.1.5 Implementation of the Remuneration Policy in 2015: Non-Executive Fees
The RNGC recommended and the Board of Directors decided not to increase non-executive fees in 2015, and therefore the non-
executive fees remain unchanged from the level set in October2007. The CEO is the only Member of the Board of Directors who
is not entitled to any Board membership fee.
Summary table of the 2015 and 2014 fees of all non-Executive Members of the Board (current and former):
Directors’ remuneration related to 2015(2) Directors’ remuneration related to 2014(1)
Fixum
Attendance
Fees(2) Total Fixum Attendance Fees Total
(in €) (in €) (in €) (in €) (in €) (in €)
Current Non Executive
Board Members(1)
Denis Ranque 180,000 70,000 250,000 180,000 70,000 250,000
Manfred Bischoff 80,000 25,000 105,000 80,000 25,000 105,000
Ralph D Crosby, Jr. 80,000 35,000 115,000 80,000 35,000 115,000
Hans-Peter Keitel 100,000 35,000 135,000 100,000 30,000 130,000
Hermann-Josef Lamberti 110,000 30,000 140,000 110,000 35,000 145,000
Anne Lauvergeon 100,000 30,000 130,000 100,000 30,000 130,000
Lakshmi N. Mittal 100,000 35,000 135,000 100,000 30,000 130,000
Maria Amparo Moraleda Martinez(3) 50,000 20,000 70,000 N/A N/A N/A
Sir John Parker 110,000 30,000 140,000 110,000 35,000 145,000
Michel Pébereau 100,000 25,000 125,000 100,000 30,000 130,000
Jean-Claude Trichet 100,000 35,000 135,000 100,000 35,000 135,000
Former Non Executive Board
Members
Josep Piqué iCamps 41,668 041,668 100,000 15,000 115,000
Total 1,151,668 370,000 1,521,668 1,160,000 370,000 1,530,000
(1) The Fixum related to 2014 was paid in 2015; the Fixum related to 2015 was paid 50% in July2015 and 50% in January2016.
(2) The Board meetings of 24 Marchand 3 Junewere telephone-based and it was agreed that no remuneration will be paid for it.
(3) Member of the Company Board of Directors, Audit Committee as of 27May 2015.
4.2.2 Long-Term Incentives Granted totheChief Executive Officer
See “—4.3.3 Long-Term Incentive Plans”.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015