Philips 2010 Annual Report Download - page 128

11 Supervisory Board report 11.2.6 - 11.2.9
128 Annual Report 2010
Restricted share rights
in euros
grant date number of restricted share rights value at grant date
number of restricted
share rights released
in 2010 value at release date in 2010
G.J. Kleisterlee 2007 24,642 762,916 8,214 203,954
2008 22,401 517,687 7,467 185,331
2009 17,922 226,355 5,974 148,275
2010 18,000 448,200 n.a. n.a.
P-J. Sivignon 2007 14,301 442,759 4,767 118,365
2008 12,801 295,831 4,267 105,907
2009 10,242 129,356 3,414 84,735
2010 10,200 253,980 n.a. n.a.
G.H.A. Dutiné 2007 13,200 408,672 4,400 109,252
2008 12,801 295,831 4,267 105,907
2009 10,242 129,356 3,414 84,735
2010 10,200 253,980 n.a. n.a.
R.S. Provoost 2007 13,200 408,672 4,400 109,252
2008 12,801 295,831 4,267 105,907
2009 10,242 129,356 3,414 84,735
2010 10,200 253,980 n.a. n.a.
S.H. Rusckowski 2007 14,301 442,759 4,767 118,365
2008 12,801 295,831 4,267 105,907
2009 10,242 129,356 3,414 84,735
2010 10,200 253,980 n.a. n.a.
For more details of the LTIP, see note 29.
11.2.7 Pensions
Eligible members of the Board of Management participate
in the Executives Pension Plan in the Netherlands
consisting of a combination of a defined-benefit (career
average) and defined-contribution plan. The target
retirement age under the plan is 62.5. The plan does not
require employee contributions.
11.2.8 Additional arrangements
In addition to the main conditions of employment, a
number of additional arrangements apply to members of
the Board of Management. These additional
arrangements, such as expense and relocation allowances,
medical insurance, accident insurance and company car
arrangements, are broadly in line with those for Philips
executives in the Netherlands. In the event of
disablement, members of the Board of Management are
entitled to benefits in line with those for other Philips
executives in the Netherlands.
Unless the law provides otherwise, the members of the
Board of Management and of the Supervisory Board shall
be reimbursed by the Company for various costs and
expenses, like reasonable costs of defending claims, as
formalized in the articles of association. Under certain
circumstances, described in the articles of association,
such as an act or failure to act by a member of the Board of
Management or a member of the Supervisory Board that
can be characterized as intentional (“opzettelijk”),
intentionally reckless (“bewust roekeloos”) or seriously
culpable (“ernstig verwijtbaar”), there will be no
entitlement to this reimbursement. The Company has
also taken out liability insurance (D&O - Directors &
Officers) for the persons concerned.
11.2.9 Remuneration Supervisory Board
The table below gives an overview of the remuneration
structure, which has remained unchanged since 2008.
Remuneration 20101)
in euros per year
Chairman Member
Supervisory Board 110,000 65,000
Audit Committee 15,000 10,000
Remuneration Committee 12,500 8,000
Corporate Governance and
Nomination & Selection
Committee 12,500 6,000
Fee for intercontinental traveling
per trip 3,000 3,000
1) For more details, see note 31