Siemens 2011 Annual Report Download - page 149

51 C. Combined management’s discussion and analysis 273 E. Additional information 153 D. Consolidated Financial Statements

If a Supervisory Board member does not attend a meeting of
the Supervisory Board, one third of the aggregate 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 enti-
tled 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 du-
ties and for any value-added tax to be paid on their remunera-
tion. 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.
B.. 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 and the German Corporate
Governance Code.