DHL 2006 Annual Report Download - page 102
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A maximum of four out of every six SARs can be “earned” via the absolute
performance target, and a maximum of two via the relative performance target.
If neither an absolute nor a relative performance target is met by the end of the
lock-up period, the SARs of the related tranche will expire, and no replacement or
compensation of any form will be provided. More details on the rst LTIP
tranche are shown in the following table:
LTIP 2006
2006 tranche
Issue date July 1, 2006
Issue price €20.70
Expiry of lock-up period June 30, 2009
e value attributable to scal of stock options issued in previous years
amounted to ,. for Dr. Klaus Zumwinkel, ,. for Dr. Frank Appel,
,. each for Prof. Dr. Edgar Ernst, Dr. Hans-Dieter Petram, Walter Scheurle
and Prof. Dr. Wulf von Schimmelmann and ,. for John P. Mullen. e
pro rata value up to September , of options granted to Dr. Peter Kruse is
,.. e following table provides detailed information on the individual
tranches of the expired stock option plans:
Stock options
SOP 2000 SOP 2003
Tranche 2001 Tranche 2002 Tranche 2003 Tranche 2004 Tranche 2005
Issue date March 15, 2001 July 1, 2002 August 1, 2003 July 1, 2004 July 1, 2005
Strike price €23.05 €14.10 €12.40 €17.00 €19.33
Expiry of lock-up
period
March 14, 2004
Exercisable
at 1/6
June 30, 2005
Exercisable
at 6/6
July 31, 2006
Exercisable
at 6/6 June 30, 2007 June 30, 2008
Expiry of exercise
period March 14, 2006 June 30, 2007 July 31, 2008 June 30, 2009 June 30, 2010
e non-exercised options from Tranche expired on March , at the end
of the exercise period, with no replacement or compensation provided.
Pension commitments
e members of the Board of Management have direct pension commitments on
the basis of their individual contracts, providing for benets in case of permanent
disability, death or departure from service on reaching retirement age. If the contract
of a member ends aer at least ve years’ service on the Board of Management (four
years in the case of John P. Mullen), the acquired entitlements are retained in full.
Members become eligible for benets in case of permanent disability aer at least
ve years’ service (four years in the case of John P. Mullen). Eligibility for retirement
benets begins at the age of at the earliest, or years of age in the case of John
P. Mullen. e Board of Management members can choose between ongoing old age
benets and a lump sum. e amount of the benets is graduated according to the
pensionable earnings and the number of years of service.
Note 36
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Deutsche Post World Net Annual Report 2006
98