Reebok 2011 Annual Report Download - page 57

adidas Group
2011 Annual Report
TO OUR SHAREHOLDERS
53
2011
01.7 Compensation Report
03 Compensation of the Supervisory Board (in €)
2011 2010
Members of the Supervisory Board as at December 31, 2011
Igor Landau (Chairman of the Supervisory Board, Chairman of the General Committee) 160,000 160,000
Sabine Bauer (Deputy Chairwoman of the Supervisory Board, Member of the General Committee) 100,000 100,000
Willi Schwerdtle (Deputy Chairman of the Supervisory Board, Member of the General Committee) 100,000 100,000
Dieter Hauenstein 40,000 40,000
Dr. Wolfgang Jäger (Member of the Audit Committee) 80,000 80,000
Dr. Stefan Jentzsch (Member of the Audit Committee) 80,000 80,000
Herbert Kauffmann (Chairman of the Audit Committee) 100,000 100,000
Roland Nosko (Member of the General Committee) 60,000 60,000
Alexander Popov 40,000 40,000
Hans Ruprecht (Member of the Audit Committee) 80,000 80,000
Heidi Thaler-Veh 40,000 40,000
Christian Tourres 40,000 40,000
Total 920,000 920,000
Compensation of the Supervisory Board
The compensation of the Supervisory Board members is determined
by the Annual General Meeting and regulated by § 18 of the Articles
of Association of adidas AG. The compensation is linked to the size
of the Group and to the responsibility and scope of activities of the
Supervisory Board members. After the respective financial year, the
members receive fixed compensation for their function as well as
compensation for the chairmanship of or membership in committees,
in accordance with the German Corporate Governance Code. There is
no variable compensation granted in addition SEE CORPORATE GOVERNANCE
REPORT INCLUDING THE DECLARATION ON CORPORATE GOVERNANCE, P. 45
. Supervisory Board
members who have not been members of the Supervisory Board for
the entire financial year receive a pro-rated amount of compensation.
Each individual member of the Supervisory Board receives € 40,000
as fixed annual compensation; three times this amount is paid to the
Chairman of the Supervisory Board and twice this amount is paid to
each Deputy Chairperson. Members of the General Committee or
the Audit Committee receive additional compensation of € 20,000
and € 40,000, respectively. In addition to the fixed compensation, the
Chairman of the General Committee receives annual compensation
of € 40,000, while the Chairman of the Audit Committee receives
€ 60,000. The remuneration paid for committee chairmanship also
covers the membership in such committee. The members of the
Steering Committee, the Mediation Committee, the Nomination
Committee and committees which are established ad hoc do not
receive additional compensation. If a Supervisory Board member is in
more than one committee, the member only receives compensation
for his/her task in the committee with the highest compensation. The
Supervisory Board members are reimbursed for all expenses incurred
in connection with their mandates as well as for the VAT payable on
their compensation, insofar as they charge for it separately.
For the 2011 financial year, the total compensation paid to our
Supervisory Board amounted to € 0.92 million (2010: € 0.92 million)
TABLE 03 .
Other benefits and additional commitments
to the Supervisory Board
– The Supervisory Board members did not receive any loans or
advance payments from adidas AG.
– adidas AG maintains a consequential loss and liability insurance for
Board members of the adidas Group (D&O Insurance). It covers the
personal liability in the event of claims raised against Supervisory
Board members for indemnification of losses incurred in connection
with their acts and omissions. For cases of damage occurring as
of July 1, 2010, there is a deductible of 10% of the damage up to a
maximum of one and a half times the fixed annual compensation for
all cases of damage within one financial year in accordance with the
recommendations of the German Corporate Governance Code.