SEC Form 20-F - Deutsche Bank Annual Report 2012

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Deutsche Bank Additional Notes F-142 Annual Report 2010 on Form 20-F 32 – Share-Based Compensation Plans The weighted average share price at the date of exercise was € 64.31 in the year ended December 31, 2008. As of December 31, 2009 no more performance options were outstanding since those granted in 2004 were already exercised and all others not previously exercised expired in 2009. Compensation Expense Compensation expense for awards classified as equity instruments is measured at the grant date based on the fair value of the share-based award. Compensation expense for share-based awards payable in cash is re-measured to fair value at each balance sheet date, and the related obligations are included in other liabilities until paid. For awards granted under the cash plan version of the DB Equity Plan and DB Global Share Plan, re-measurement is based on the current market price of Deutsche Bank common shares. A further description of the underlying accounting principles can be found in Note 01 “Significant Accounting Policies”. The Group recognized compensation expense related to its significant share-based compensation plans as follows: in € m. 2010 2009 2008 DB Global Partnership Plan 1 4 10 DB Global Share Plan/DB Global Share Purchase Plan 3 6 39 DB Share Scheme/Restricted Equity Units Plan/DB KEEP/DB Equity Plan 1,173 637 1,249 Total 1,177 647 1,298 Of the compensation expense recognized in 2010, 2009 and 2008 approximately € 24 million, € 22 million and € 4 million, respectively, was attributable to the cash-settled variant of the DB Global Share Plan and the DB Equity Plan. Share-based payment transactions which will result in a cash payment give rise to a liability, which amounted to approximately € 33 million, € 26 million and € 10 million for the years ended December 31, 2010, 2009 and 2008 respectively. As of December 31, 2010, 2009 and 2008, unrecognized compensation cost related to non-vested share-based compensation was approximately € 1.0 billion, € 0.4 billion and € 0.6 billion respectively.
Deutsche Bank Additional Notes F-143 Annual Report 2010 on Form 20-F 33 – Employee Benefits 33 – Employee Benefits Deferred Compensation The Group granted cash awards to selected employees with deferred settlement. Each award consists of three tranches each amounting to one third of the grant volume. The three tranches vest one, two and three years, respectively, after grant date. As soon as a tranche vests it is paid out, net of those parts of the awards forfeited before vesting. Generally each tranche is expensed over its vesting period. As a rule, the awards are only paid out to the employee if there is a non-terminated employment relationship between the employee and Deutsche Bank at the respective vesting date. The awards are subject to additional forfeiture rules, for example if employees are in breach of internal policies or law. From 2010 onwards the awards granted to selected employees at the senior management level are also subject to performance-indexed forfeiture rules based on regulatory rules requiring that parts of the awards will not be paid out if defined performance metrics are not met. The volume of awards granted in February 2010 under the terms and conditions of the DB Restricted Incentive Plan was approximately € 0.5 billion. In February 2009 awards of approximately € 1.0 billion were granted under the terms and conditions of the DB Restricted Cash Plan. From 2011 onwards certain forfeiture rules are only applicable to senior management and employees who are specifically identified under the regulatory requirements of the new German Compensation Regulation for Institutions (“InstitutsVergV”). In February 2011, new awards totaling approximately € 1.0 billion were granted under the terms and conditions of the DB Restricted Incentive Plan. In addition, the Group granted share awards which are described in Note 32 “Share-Based Compensation Plans”. Post-employment Benefit Plans Nature of Plans The Group sponsors a number of post-employment benefit plans on behalf of its employees, both defined contribution plans and defined benefit plans. The Group’s plans are accounted for based on the nature and substance of the plan. The Group’s defined benefit plans are classified into retirement benefit plans, such as pension plans, and post-employment medical plans. The majority of the Group’s defined benefit commitments relate to beneficiaries of retirement benefit plans in Germany, the United Kingdom and the United States. For such plans, the value of a participant’s accrued benefit is based primarily on each employee’s remuneration and length of service. The Group maintains various external pension trusts to fund the majority of its retirement benefit plan obligations.
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2011 April 28, 2011 Interim Report
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SEC Form 20-F - Deutsche Bank Annual Report 2012

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