Philips 2014 Annual Report Download - page 87

Supervisory Board report 10.2.7
Annual Report 2014 87
Philips Group
Stock options
grant date
number of
stock options
value at
grant date1)
end of
lock-up period
value at
end of
lock-up period1)
F.A. van Houten 2011 75,000 366,000 2014 368,468
2012 75,000 212,550 2015 n.a.
20132) 55,000 242,534 2016 n.a.
R.H. Wirahadiraksa 2011 51,000 248,880 2014 250,558
2012 51,000 144,534 2015 n.a.
20132) 38,500 169,773 2016 n.a.
P.A.J. Nota 2011 51,000 248,880 2014 250.558
2012 51,000 144,534 2015 n.a.
20132) 38,500 169,773 2016 n.a.
1) Value based on Black & Scholes value
2) Accelerate! Grant
Philips Group
Restricted share rights
grant date
number of
restricted share
rights originally
granted
value at
grant date
number of
restricted share
rights
released in 2014
value at
release date
in 2014
F.A. van Houten 2011 20,001 418,021 6,667 145,607
2012 20,001 296,415 6,667 136,807
R.H. Wirahadiraksa 2011 13,602 284,282 4,534 99,023
2012 13,602 201,582 4,534 93,038
P.A.J. Nota 2011 13,602 284,282 4,534 99,023
2012 13,602 201,582 4,534 93,038
For more details of the LTI Plan see note 28, Share-
based compensation.
10.2.8 Pensions
In 2014 Members of the Board of Management
participated in the Executives Pension Plan in the
Netherlands consisting of a combination of a dened-
benet (career average) and dened-contribution plan.
The target retirement age under the plan is 62.5. The
plan does not require employee contributions. For
more details, see note 29, Information on
remuneration. With eect from January 1, 2015, a
revised approach to pensions was implemented driven
by changes in Dutch pension legislation, see 2015
outlook at the end of this section for more details.
10.2.9 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 in line with those for
Philips executives in the Netherlands. In the event of
disablement, members of the Board of Management
are entitled to benets 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 action 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 & Ocers) for the
persons concerned.
10.2.10 Remuneration of Supervisory Board
The table below gives an overview of the remuneration
structure, which has remained unchanged since 2008.
Philips Group
Remuneration Supervisory Board1) in EUR
2014
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
Entitlement to Philips product
arrangement 2,000 2,000
1) For more details, see note 29, Information on remuneration