Porsche 2010 Annual Report Download - page 29

Corporations Act (AktG) has been arranged for the
D&O insurance policy concluded by the company for
its executive board members.
There are no other benefits provided for by
the company. In particular, the members of the com-
pany’s executive board do not receive any pension
benefits. The executive board members’ individual
service agreements with the company do not contain
any special regulations regarding premature termina-
tion of membership of the executive board.
Remuneration of members of the executive board according to Sec. 314 (1) No. 6a HGB
in the short fiscal year 2010
Remuneration of the executive board
in fiscal 2009/ 10
In accordance with the provisions of the law,
the presentation of the structure and composition of
remuneration for members of the executive board in
the fiscal year 2009/ 10 takes into account not only
the remuneration for service as a member of Porsche
SE’s executive board, but also the pro rata remunera-
tion earned up until the date of deconsolidation of the
Volkswagen group on 3 December 2009 and of Por-
sche Zwischenholding GmbH on 7 December 2009
for membership of those groups’ boards.
Remuneration principles at Volkswagen AG
The remuneration of the executive board mem-
bers Prof. Dr. Martin Winterkorn and Hans Dieter Pötsch
for their service to the Porsche SE group as presented
in the remuneration report for the fiscal year 2009/ 10
also contains the remuneration earned from Volkswagen
AG for the period from acceptance of their appointment
to the company’s executive board effective as of
25 November 2009 to the date of deconsolidation of
the Volkswagen group on 3 December 2009.
This remuneration comprises a fixed basic
salary, including other benefits in kind, and a variable
component based on the business development of the
previous two years. No remuneration was granted
from conversion rights under the stock option plan in
effect until the end of 2009.
Instead, the supervisory board of Volkswagen
AG decided to introduce a long-term incentive (LTI) as
a new variable component for the board of manage-
ment and management of the Volkswagen group, the
amount of which is largely dependent on whether the
aims of the Strategy 2018 are met.
The underlying indices of customer satisfac-
tion, in the field of employer appeal and sales growth
are added and then multiplied by the return index
derived from the development of return on sales. The
LTI is consequently paid out only if the group is finan-
cially successful. The supervisory board determines
the amount of the LTI for each fiscal year on the basis
of the total index’s four-year average. In the introduc-
tory phase, the LTI will be calculated and paid out for
Non-performance-
related components
Prof. Dr. Martin Winterkorn 323,945
Thomas Edig 208,333
Matthias Müller
(since 13 October 2010) 109,722
Hans Dieter Pötsch 218,995
Dr. Michael Macht
(until 30 September 2010) 83,333
Total 944,328
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