Siemens 2010 Annual Report Download - page 114


The Chairman of the Supervisory Board is entitled to receive
%, and each of the deputy chairmen %, of the fixed and
the variable compensation of an ordinary member. Further-
more, each member of the Audit Committee and the Chair-
man‘s Committee is entitled to receive additional compensa-
tion amounting to % of the fixed and the variable compensa-
tion of an ordinary member, while the chairmen of these
committees are entitled to receive additional compensation
amounting to % of the fixed and the variable compensation
of an ordinary member. In addition, each member of the Com-
pliance Committee and the Finance and Investment Commit-
tee is entitled to receive additional compensation amounting
to % of the fixed and the variable compensation of an ordi-
nary member, while the chairmen of these committees are
entitled to receive additional compensation amounting to %
of the fixed and the variable compensation of an ordinary
member. The aggregate compensation of the Chairman of the
Supervisory Board is not to exceed % of the fixed and the
variable compensation of an ordinary member. If a Supervisory
Board member does not attend a meeting of the Supervisory
Board, one third of the aggregate fixed and variable compensa-
tion due to that member is reduced by the percentage of Su-
pervisory Board meetings not attended by the member in rela-
tion to the total number of Supervisory Board meetings held
during the fiscal year.
In addition, the members of the Supervisory Board are entitled
to receive a meeting attendance fee of €, for each meeting
of the Supervisory Board and its committees that they attend.
The members of the Supervisory Board are reimbursed for out-
of-pocket expenses incurred in connection with their duties
and for any sales tax to be paid on their remuneration. In con-
sideration for the performance of his duties, the Chairman of
the Supervisory Board is furthermore entitled to an office with
secretarial support and use of the Siemens carpool service.
No loans from the Company are provided to members of the
Supervisory Board.
. OTHER
The Company provides a group insurance policy for board and
committee members and certain employees of the Siemens
organization that is taken out for one year and renewed annu-
ally. The insurance covers the personal liability of the insured
in the case of a financial loss associated with employment
functions. The insurance policy for fiscal  includes a de-
ductible for the members of the Managing Board and the Su-
pervisory Board in compliance with the requirements of the
German Stock Corporation Act (AktG) and the German Corpo-
rate Governance Code which replaced prior individual commit-
ments. As part of these commitments, with effect from Octo-
ber , , the Company and the individual members of the
Managing Board and the Supervisory Board had agreed on a
deductible up to an amount equivalent to  % of the fixed
salary or the fixed compensation component, respectively.