DHL 2012 Annual Report Download - page 129

e medium-term component described is applicable to all employment contracts
and contract renewals entered into aer the eective date of the Gesetz zur Angemessen-
heit der Vorstandsvergütung (VorstAG – German Act on the Appropriateness of Manage-
ment Board Remuneration) ( August ). For all contracts concluded prior to that
date,   of the annual bonus owed into the medium-term component until the
cessation of the term of the contract. Since  November , a deferral portion of  
applies for all Board of Management members.
e amount of the annual bonus is set at the due discretion of the Supervisory Board
on the basis of the company’s performance. e individual annual bonus amounts reect
the extent to which predened targets are achieved, missed or exceeded. e maximum
amount of the annual bonus may not exceed   of the annual base salary.
For all Board of Management members, the Group’s  aer asset charge perform-
ance metric, including the asset charge on goodwill before goodwill impairment ,
is the main parameter used in this calculation. For the Board of Management members
in charge of the ,  , ,  and  
divisions, the  of their respective division is also a key parameter. Furthermore, an
employee-related target is agreed with all Board of Management members based on the
annual employee opinion survey, as are additional targets.
Achievement of the upper targets for the nancial year that have been agreed based
on demanding objectives is rewarded with the maximum annual bonus. If the targets
specied for the nancial year are only partially reached or completely missed, the
annual bonus will be paid on a pro-rata basis or not at all. e Supervisory Board may
also elect to award an appropriate special bonus for extraordinary achievement.
e annual bonus is not paid in full in a single instalment on the basis of having
reached the agreed targets. Instead,   of the annual bonus ows into a medium-
term component with a three-year calculation period (performance phase of one year,
sustainability phase of two years). is medium-term component will be paid out aer
expiry of the sustainability phase subject to the condition that , as an indicator of
sustainability, is reached during the sustainability phase. Otherwise, payment of the
medium-term component is forfeited without compensation. is demerit system puts
greater emphasis on sustainable company development in determining management
board remuneration and sets long-term incentives.
Stock appreciation rights  s are granted as a long-term remuneration com-
ponent based on the Long-Term Incentive Plan resolved by the Supervisory Board in
  .
Each  entitles the holder to receive a cash settlement equal to the dierence
between the average closing price of Deutsche Post shares for the ve trading days
preceding the exercise date and the exercise price of the . In , the members of
the Board of Management each invested   of their annual base salary as a personal
nancial investment. e waiting period for the stock appreciation rights is four years
from the date on which they were granted. Aer expiration of the waiting period, and
provided an absolute or relative performance target has been achieved, the  s can be
exercised wholly or partially for a period of two years. Any  s not exercised during
this two-year period will expire.
Deutsche Post DHL Annual Report 
Corporate Governance
Corporate Governance Report
Remuneration report
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