Siemens 2009 Annual Report Download - page 129

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 Managing Board statements, Independent auditors’ report, Additional information
Under this concept, each Supervisory Board member receives
fixed compensation of €, annually as well as short-term
variable compensation of € for each €. by which earn-
ings per share as disclosed in the Consolidated Financial State-
ments exceeds a minimum amount of €.; this minimum
amount is increased annually by  percent, beginning with
the fiscal year starting on October , . In addition, long-
term compensation of € for each €. by which the aver-
age earnings per share over the last three completed fiscal
years as disclosed in the Consolidated Financial Statements
exceeds the amount of €.; this minimum amount is in-
creased annually by  percent, beginning with the fiscal year
starting on October , . The determination of the Supervi-
sory Board remuneration is based on basic earnings per share
(basic EPS) from continuing operations as disclosed in the
Consolidated Financial Statements prepared in accordance
with the accounting principles to be applied in each case.
. Supervisory Board remuneration
The remuneration of the members of the Supervisory Board
was determined at the Annual Shareholders’ Meeting through
shareholder approval of a proposal by the Managing and Su-
pervisory Boards. Details of the remuneration are set forth in
the Articles of Association of Siemens AG.
The remuneration of the members of the Supervisory Board is
commensurate with compensation paid by companies of com-
parable size and reflects the responsibilities and scope of work
of the Supervisory Board members as well as the Company ’s
economic situation and performance. The Chairman, the
Deputy Chairmen, as well as the Chairman and the members
of the Audit Committee, the Chairman’s Committee of the
Supervisory Board, and − to a lesser degree − the Compliance
Committee and the Finance and Investment Committee, re-
ceive additional compensation.
The current remuneration policies for the Supervisory Board
were authorized at the Annual Shareholders’ Meeting of Janu-
ary , . Details are set out in §  of the Articles of Associa-
tion of Siemens AG.
As a result, the remuneration of Supervisory Board members
for fiscal year  includes three components:
◾a fixed compensation component,
◾a short-term compensation component based on earnings
per share, and
◾a long-term compensation component based on earnings
per share.