entire - Deutsche Bank Annual Report 2012

Deutsche Bank 01 – Management Report 134
Financial Report 2010 Compensation Report
If Dr. Ackermann and Mr. Lamberti leave office after reaching the age of 60, they are each subsequently entitled,
under defined conditions, directly after the end of the six-month transition period, to payment of first 75 % and
then 50 % of the sum of his salary and last target bonus, each for a period of 24 months. This payment ends no
later than six months after the end of the Annual General Meeting in the year in which the Board member reaches
his 65th birthday.
The following table shows the annual additions to provisions for obligations regarding pension benefits and
transition payments for the years ended December 31, 2010 and December 31, 2009 and the related Defined
Benefit Obligation at the respective dates for the individual members of the Management Board. The different
sizes of the balances are due to the different length of services on the Management Board, the respective agerelated
factors, the different contribution rates as well as the individual pensionable compensation amounts and
the previously mentioned additional individual entitlements.
Members of the Management Board 1
Additions to provisions for
Present value of the defined
benefit obligation for pension
pension benefits and transition benefits and transition
in €
payments, year ended payments, end of year
Dr. Josef Ackermann 2010 1,263,161 13,236,187
2009 – 3
11,973,026
Dr. Hugo Bänziger 2010 670,727 2,161,491
2009 342,949 1,490,764
Jürgen Fitschen 2 2010 244,364 307,348
2009 62,984 62,984
Stefan Krause 2010 550,405 825,181
2009 166,891 274,776
Hermann-Josef Lamberti 2010 1,223,474 11,177,275
2009 2,488,164 9,953,801
Rainer Neske 2 2010 461,013 575,398
2009 114,385 114,385
1 Other members of the Management Board are not entitled to such benefits after appointment to the Management Board.
2 Member of the Management Board since April 1, 2009.
3 No addition to provision required in 2009.
Other termination benefits
The Management Board members are principally entitled to receive a severance payment upon a premature
termination of their appointment at our initiative, without us having been entitled to revoke the appointment or
give notice under the contractual agreement for cause. The severance payment, as a rule, will not exceed the
lesser of two annual compensation amounts and the claims to compensation for the remaining term of the
contract (compensation calculated on the basis of the annual compensation for the previous financial year).
If a Management Board member departs in connection with a change of control, he is under certain conditions
in principle entitled to a severance payment. The severance payment, as a rule, will not exceed the lesser of
three annual compensation amounts and the claims to compensation for the remaining term of the contract.
The calculation of the compensation is based on the annual compensation for the previous financial year.
The severance payment mentioned before is determined by the Supervisory Board in its reasonable discretion.
In principle, the disbursement of the severance payment takes place in two installments; the second installment
is subject to certain forfeiture conditions until vesting.