Porsche 2009 Annual Report Download - page 33

euro recorded as of the prior-year reporting date were
disposed of in the course of deconsolidation of Por-
sche Zwischenholding GmbH from the Porsche SE
group. Until the date of deconsolidation of the Por-
sche Zwischenholding GmbH group and the Volks-
wagen group, benefit payments came to 1.0 million
euro for this group of persons (2008/09:
1.6 million euro).
Remuneration of the supervisory board
The remuneration of Porsche SE’s supervi-
sory board is governed by article 14 of the com-
pany’s articles of association. It consists of a fixed
component and an attendance fee for the meetings of
the supervisory board and the respective committees.
In addition, the supervisory board members receive a
performance-related component based on the
profit/loss before tax from continuing operations.
The chairman of the supervisory board, his
deputy and the chairperson and members of the audit
committee receive twice (chairperson) and one and a
half times (deputy and members of the audit commit-
tee) the amount of remuneration of a supervisory
board member. If a member of the supervisory board
holds several offices at the same time, he/she re-
ceives remuneration only for the office with the high-
est remuneration.
In addition, the company refunds each super-
visory board member for VAT payable on their remu-
neration.
Various members of Porsche SE’s supervi-
sory board are also members of supervisory boards
and other control bodies as defined by Sec. 125 (1),
Sentence 3 German Stock Corporation Act (AktG) in
the Porsche Zwischenholding GmbH group and the
Volkswagen group. The remuneration of Porsche AG’s
supervisory board is governed by article 13 of the
Porsche AG’s articles of association. Art. 17 of the
articles of association of Volkswagen AG contains the
rulings on the remuneration of the supervisory board
of Volkswagen AG. The remuneration of the members
of the supervisory board of AUDI Aktiengesellschaft,
Ingolstadt (AUDI AG) is governed by the provisions in
Art. 16 of the articles of association of AUDI AG.
Remuneration of the supervisory board
in the fiscal year 2009/10
In accordance with article 14 of Porsche SE’s
articles of association, the supervisory board receives
remuneration totaling 2.2 million euro for its service
at Porsche SE in the fiscal year 2009/10 (2008/09:
1.5 million euro). This amount includes fixed compo-
nents of 0.9 million euro and variable components of
1.3 million euro.
Beyond this, supervisory board members did
not receive any other remuneration or benefits for any
services they provided personally, such as consul-
tancy and mediation services.
The remuneration presented below for the in-
dividual members of Porsche SE’s supervisory board
comprises the remuneration paid for their work on the
supervisory boards of Porsche SE and its subsidiaries.
Accordingly, for those members of Porsche SE’s su-
pervisory board who are members of the supervisory
board or other control bodies in the Porsche
Zwischenholding GmbH group and the Volkswagen
group, it also includes remuneration for memberships
of supervisory board and other control bodies as de-
fined by Section 125 (1) Sentence 3 German Stock
Corporation Act (AktG) of these companies until de-
consolidation of Volkswagen AG on 3 December 2009
and of Porsche Zwischenholding GmbH on
7 December 2009. In accordance with article 13 (2)
of Porsche AG’s articles of association, members of
Porsche AG’s supervisory board who are also on Por-
sche SE’s supervisory board do not receive perform-
ance-related remuneration from Porsche AG in order
to avoid duplicate payment.
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