Siemens 2012 Annual Report Download - page 132

1 A. To our Shareholders 21 B. Corporate Governance
22 B. Corporate Governance Report
28 B. Corporate Governance statement pursuant to
Section a of the German Commercial Code
(part of the Combined Management Report)
29 B. Compliance Report
31 B. Compensation Report
(part of the Combined Management Report)
44 B. Takeover-relevant information (pursuant to
Sections  para.  and  para.  of the
German Commercial Code) and explanatory report
(part of the Combined Management Report)

.. Remuneration of members
of the Supervisory Board
The current remuneration policies for the Supervisory Board
were authorized at the Annual Shareholders’ Meeting held on
January , . Details are set out in Section  of the Articles
of Association of Siemens AG. The remuneration of the Super-
visory Board consists entirely of fixed compensation. The re-
muneration of the members of the Supervisory Board reflects
the responsibilities and scope of work of the Supervisory Board
members. The Chairman and deputy chairmen of the Supervi-
sory Board, as well as the Chairmen and members of the Audit
Committee and the Chairman’s Committee, and – to a lesser
degree – the Compliance Committee and the Finance and In-
vestment Committee, receive additional compensation.
According to current rules, members of the Supervisory Board
receive an annual base compensation of €,; the Chair-
man of the Supervisory Board receives a base compensation of
€,, and each of the deputy chairmen receives €,.
The members of the Supervisory Board committees receive the
following additional fixed compensation for their work on
those committees: The Chairman of the Audit Committee re-
ceives €,, and each of the other members receives
€,; the Chairman of the Chairman’s Committee receives
€,, and each of the other members receives €,;
the Chairman of the Finance and Investment Committee re-
ceives €,, and each of the other members receives
€,; the Chairman of the Compliance Committee receives
€,, and each of the other members receives €,.
However, no additional compensation is paid for work on the
Compliance Committee if a member of that committee is al-
ready entitled to compensation for work on the Audit Committee.
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
Supervisory Board meetings not attended by the member in
relation 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 value-added tax to be paid on their remu-
neration. For the performance of his duties, the Chairman of
the Supervisory Board is furthermore entitled to an office with
secre tarial support and use of the Siemens carpool service.
No loans or advances from the Company are provided to mem-
bers of the Supervisory Board.
The following compensation was determined for each of the
members of the Supervisory Board for fiscal  (individual-
ized disclosure):