SEC Form 20-F - Deutsche Bank Annual Report 2012

Deutsche Bank
Annual Report 2010 on Form 20-F
Item 6: Directors, Senior Management and Employees 108
Dr. Ackermann € 2,534,089; Dr. Bänziger € 824,399; Mr. Cohrs € 1,350,943 (see note 3 to the table above for
procedure); Mr. Fitschen € 799,770; Mr. Jain € 4,367,413; Mr. Krause € 849,029; Mr. Lamberti € 799,770 and
Mr. Neske € 824,399.
For the 2009 financial year the members of the Management Board were granted Restricted Incentive Awards
totaling € 3,955,007. For each Management Board member such grants vest beginning in February 2011 in
three equal annual tranches, in a total amount granted as follows: Dr. Ackermann € 1,925,000; Dr. Bänziger
€ 268,575; Mr. Cohrs € 130,210 (see note 3 to the table above for procedure); Mr. Fitschen € 201,431; Mr. Jain
€ 691,210; Mr. Krause € 268,575; Mr. Lamberti € 268,575 and Mr. Neske € 201,431.
The following table shows the other non-performance-related benefits for the 2010 and 2009 financial years.
Members of the Management Board Other benefits
in € 2010 2009
Dr. Josef Ackermann 148,723 154,030
Dr. Hugo Bänziger 54,833 51,388
Michael Cohrs 1 56,218 39,661
Jürgen Fitschen 2 130,171 131,111
Anshuman Jain 2 77,671 52,697
Stefan Krause 136,953 58,267
Hermann-Josef Lamberti 91,505 102,123
Rainer Neske 2 99,264 260,069
Total 795,338 849,346
1 Member of the Management Board from April 1, 2009 until September 30, 2010.
2 Member of the Management Board since April 1, 2009.
Management Board members do not receive any compensation for mandates on boards of our subsidiaries.
Pension benefits and transition payments
The members of the Management Board are entitled to a contribution-oriented pension plan. Under this contribution-oriented
pension plan, a personal pension account has been set up for each participating member of the
Management Board (after appointment to the Management Board). A contribution is made annually by us into
this pension account. This annual contribution is calculated using an individual contribution rate on the basis of
each member’s base salary and bonus up to a defined ceiling and accrues interest credited in advance, determined
by means of an age-related factor, at an average rate of 6 % per year up to the age of 60. From the age
of 61 on, the pension account is credited with an annual interest payment of 6 % up to the date of retirement.
The annual payments, taken together, form the pension amount which is available to pay the future pension
benefit. Under defined conditions, the pension may as well fall due for payment before a regular pension event
(age limit, disability or death) has occurred. The pension right is vested from the start. Management Board
members entitled to a Division Incentive do not participate in this pension plan.
Based on former contractual agreements individual Management Board members have additional entitlements:
Dr. Ackermann and Mr. Lamberti are entitled, under defined conditions, after they have left the Management
Board, to a monthly pension payment of € 29,400 each under a prior pension entitlement.
Dr. Ackermann, Dr. Bänziger and Mr. Lamberti are entitled to a transition payment for a period of six months
under defined conditions. Exceptions to this arrangement exist where, for instance, the Management Board
member gives cause for summary dismissal. The transition payment a Management Board member would