Board of Management remuneration in 2013.

Total Board of Management remuneration in 2013. The total remuneration granted by Group companies (excluding retirement benefit commitments) to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of

  • the base salary in 2013,
  • the half of the annual bonus for 2013 payable in 2014,
  • the half of the medium-term share-based component of the annual bonus for 2013 payable in 2015 with its value at the balance sheet date (entitlement depending on the development of Daimler’s share price compared with the Dow Jones STOXX Auto Index),
  • the value of the long-term share-based remuneration at the time when granted in 2013, and
  • the taxable non-cash benefits in 2013.

For both of the share-based components – the second 50% of the annual bonus and the PPSP with a long-term orientation – the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters. Upward deviation is possible only as far as the maximum limits described above. Both components can also be zero.

The remuneration of the Board of Management for the year 2013 amounts to €32.1 million (2012: €28.2 million). Of that total, €9.1 million was fixed, that is, non-performance-related remuneration (2012: €7.5 million), €12.1 million (2012: €9.3 million) was short- and medium-term variable performance-related remuneration (annual bonus with deferral), and €10.9 million was variable performance-related remuneration granted in 2013 with a long-term incentive effect (2012: €11.4 million). (See table C.46)

When comparing with the prior-year figures, with regard to the total of base salary, the annual bonus and the PPSP granted, it is necessary to consider effect pro rata over time of the appointment of Mr. Troska taking effect as of December 13, 2012.

The granting of non-cash benefits in kind, primarily the reimbursement of expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2013 as shown in the table  C.47.

C.46

Board of Management remuneration in 2013
    Base salary Short and medium-term variable remuneration (annual bonus) Long-term variable remuneration (PPSP) Total
      Short-term Medium-term Number Value when granted 
(2013: at share price €44.39)
(2012: at share price €48.23)
 
In thousands of euros              
               
Dr. Dieter Zetsche 2013 2,008 1,707 1,707 63,643 2,825 8,247
  2012 2,008 1,426 1,426 68,273 3,293 8,153
Dr. Wolfgang Bernhard 2013 715 590 590 25,458 1,130 3,025
  2012 715 508 508 27,309 1,316 3,047
Dr. Christine Hohmann-
Dennhardt
2013 715 590 590 25,458 1,130 3,025
  2012 715 526 526 27,309 1,317 3,084
Wilfried Porth1 2013 715 608 608 25,458 1,044 2,975
  2012 715 508 508 27,309 1,229 2,960
Andreas Renschler2 2013 755 623 623 28,420 1,226 3,227
  2012 755 536 536 30,487 1,460 3,287
Hubertus Troska 2013 715 590 590 25,458 1,130 3,025
  2012 37 24 24 85
Bodo Uebber3 2013 866 736 736 30,433 1,199 3,537
  2012 866 636 636 32,647 1,402 3,540
Prof. Dr. Thomas Weber 2013 715 626 626 27,031 1,200 3,167
  2012 715 490 490 28,998 1,399 3,094
               
Summe 2013 7,204 6,070 6,070 251,359 10,884 30,228
  2012 6,526 4,654 4,654 242,332 11,416 27,250
1 Taking into account supervisory board remuneration of €85,734 (2012: €88,460).
2 Taking into account supervisory board remuneration of €35,646 (2012: €10,913).
3 Taking into account supervisory board remuneration of €152,197 (2012: €173,048).

C.47

Non-cash benefits and other fringe benefits
  2013 2012
In thousands of euros    
     
Dr. Dieter Zetsche 151 151
Dr. Wolfgang Bernhard 90 63
Dr. Christine Hohmann-Dennhardt 84 191
Wilfried Porth 93 114
Andreas Renschler1 511 152
Hubertus Troska2 603 4
Bodo Uebber 112 112
Prof. Dr. Thomas Weber 210 156
     
Total 1,854 943
1 Taking into account jubilee money of €62,995.
2 Taking into account jubilee money of €59,714.
For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), this amount is reduced by €155,000 for the year 2013. The corresponding fringe benefits were granted and borne by a subsidiary and are thus not included in the amounts to be disclosed in the annual financial statements of the parent company, Daimler AG.
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