Mercedes 2006 Annual Report Download - page 143
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Corporate Governance | Declaration of Compliance | 127
2.Individualized reporting of Board of Management Compen-
sation (Code Clause 4.2.4 in effect as of June 2, 2005)
The compensation for the Board of Management for the 2005
fiscal year has been reported in the aggregate on the basis of fixed
and variable elements and components with a long-term
incentive effect. For the 2006 fiscal year, the compensation
will be published on an individual basis.
3.Compensation of the Supervisory Board (Code Clause 5.4.7,
Paragraph 2, Sentence 1) The Supervisory Board receives
adequate compensation that contains fixed and function-related
elements, where applicable, as well as attendance fees.
The Articles of Incorporation provide for a base annual fee for
each Member of the Supervisory Board. This base annual fee
increases with the exercise of further tasks within the Supervisory
Board, as taking the Chair or the Deputy Chair of the Supervisory
Board or the Chair of Supervisory Board Committees according to
the respective field of duty. We believe that a function-related
compensation system is also more appropriate for the oversight
role of Supervisory Board members than a performance-related
pay system because it eliminates any potential conflicting interests
that might arise from decisions of the Supervisory Board with
possible influence on performance criteria. Thus the Supervisory
Board does not receive performance-related compensation.
II. Deviations from the Suggestions of the
German Corporate Governance Code
1. Broadcast of the Annual Meeting (Code Clause 2.3.4)
The Annual Meeting of DaimlerChrysler AG is broadcast on the
internet through the end of the Board of Management’s report.
Continuing the broadcast after this point, particularly broadcasting
comments made by individual shareholders, could be construed
as interfering with privacy rights. For this reason the company will
not broadcast the entire Annual Meeting.
2. Variable compensation of the Supervisory Board relating
to the company’s long-term success (Code Clause 5.4.7
Paragraph 2, Sentence 2) We refer to the comments on I. 3. with
regard to the introduction of performance-related compensation.
Stuttgart, in December 2006
The Board of Management The Supervisory Board