Saab 2012 Annual Report Download - page 110

are vested. In , pension costs for other senior executives, including 
and its equivalent, amounted to  ,, (,,). Other senior
executives are entitled, or obliged if the company so requests, to retire on
pension as of the age of  or  years.
Severance terms
If terminated by the company, the group of other senior executives will receive
a salary and pension benets for six months (period of notice). ereaer
they will receive severance pay equivalent to  months of salary, based on
their xed salary. Severance is paid monthly with the rst payment in the
month aer employment has ended. Severance is not paid for the period that
falls aer the contractual pension age. Employees hired before  January 
who have reached the age of  are entitled to another six months of severance.
e salary during the period of notice and severance will be deducted
from income received from other employment during the same period. If they
resign voluntarily, there is a six-month period of notice with salary and pen-
sion benets, but no severance pay.
Other benets
All senior executives have a company car and medical insurance. Several sen-
ior executives also have benets in the form of overnight housing and travel.
Summary of compensation and other benefits during 2012
SEK
Base salary/
Board and
Committee fee
Variable
compen sation
Performance
Share Plan Other benefits 3) Pension cost Total
Provisions 2012 for
long-term variable
compensation at
estimated outcome
Chairman of the Board
Marcus Wallenberg 1,245,000 - - - - 1,245,000 -
Deputy Chairman
Sten Jakobsson 560,000 - - - - 560,000 -
Other Board members
Åke Svensson 450,000 - - - - 450,000 -
Johan Forssell 550,000 - - - - 550,000 -
Per-Arne Sandström 600,000 - - - - 600,000 -
Cecilia Stegö Chilò 450,000 - - - - 450,000 -
Lena Treschow Torell 585,000 - - - - 585,000 2) -
Joakim Westh 550,000 - - - - 550,000 -
President and CEO Håkan Buskhe 9,209,371 - 1,513,359 26,576 3,420,807 14,170,113 2,049,006
Other senior executives 39,313,424 358,056 1) 3,535,145 2,485,927 16,319,513 62,012,065 5,751,708
Total 53,512,795 358,056 5,048,504 2,512,503 19,740,320 81,172,178 7,800,714
1) Relates to remuneration to two senior executives, which, according to their contracts, was paid in the form of pension premiums.
2) Social security costs must be added since parts of the fees are invoiced through a limited company. Board members who invoice the amount for board and committee fees through a limited company may on their invoices add an
amount for social security contributions. The social security contributions included in the invoiced amount do not exceed the employer’s contribution the company otherwise would have paid.
3) Including compensation for the additional costs the benefits lead to.
Guidelines for remuneration and other benets for senior executives are described in the administration report.
Summary of compensation and other benefits during 2011
SEK
Base salary/
Board and
Committee fee
Variable
compen sation
Performance
Share Plan Other benefits 6) Pension cost Total
Provisions 2011 for
long-term variable
compensation at
estimated outcome
Chairman of the Board
Marcus Wallenberg 1,180,000 - - - - 1,180,000 -
Deputy Chairman
Sten Jakobsson 505,000 - - - - 505,000 -
Other Board members 1)
Åke Svensson 425,000 - - - - 425,000 -
Johan Forssell 525,000 - - - - 525,000 -
Per-Arne Sandström 575,000 - - - - 575,000 -
Cecilia Stegö Chilò 425,000 - - - - 425,000 -
Lena Treschow Torell 560,000 - - - - 560,000 -
Joakim Westh 525,000 - - - - 525,000 -
Michael O’Callaghan 7) ---
--- -
President and CEO Håkan Buskhe 4) 8,663,247 - 520,042 1,158,219 2) 3,187,551 13,529,059 535,647
Other senior executives 4) 41,898,577 5) 2,393,866 3) 2,365,683 1,747,003 16,127,093 5) 64,532,222 3,041,908
Total 55,281,824 2,393,866 2,885,725 2,905,222 19,314,644 82,781,281 3,577,555
1) Excluding consultant’s fee payed to member of the Board.
2) Including benefits for air travel.
3) Including remuneration to two senior executives, which, according to their contracts, was paid in the form of pension premiums.
4) In addition, cash payments related to bonuses for 2010 were made in the amount of SEK 3,665,530.
5) Including estimated remuneration allocated for seniors executives who leave Group Management in 2012.
6) Including compensation for the additional costs the benefits lead to.
7) Employed by BAE Systems. Resigned on June 16 2011, as a result of BAE System’s sale of its shareholding in Saab.
NOTE 37, CONT.
FINANCIAL INFORMATION > NOTES
106 SAAB ANNUAL REPORT 2012