Annual report 2006 - Dexia.com

CORPORATE GOVERNANCE
The maximum amount of variable compensation is fixed for each member of the Management Board, which assumes that each
criterion represents between 0 and a maximum percentage of the fixed compensation. These maximum amounts have been
fixed as follows:
(% of fixed compensation) Maximum amount Maximum Maximum Maximum
for Group part amount for amount for total amount
Management individual part
Board part
MANAGEMENT REPORT
COMPTES CONSOLIDÉS
Chief Executive Officer 75% 75% 75% 225%
Vice-Chairman 60% 60% 60% 180%
Other members 50% 50% 50% 150%
Any attendance allowance or percentage paid by a company
in the Dexia Group to a member of the Management Board is
deducted from the fixed or variable compensation of the latter.
Pensions
Members of the Management Board benefit from extralegal
supplementary pensions put in place by Dexia. Various
schemes are applicable to each of its members:
• Jacques Guerber and Rembert von Lowis are entitled, under
certain conditions, to an annual retirement pension when they
retire, in an amount equivalent to 75% of their average gross
fixed compensation over the two years prior to retirement.
That amount is nonetheless reduced by amounts received by
way of legal pension of private origin.
• Axel Miller, Dirk Bruneel and Xavier de Walque are entitled,
under certain conditions, to an annual retirement pension
when they retire, in an amount equivalent to a certain percentage
of a reference compensation (the percentage varies
depending upon length of service in the Dexia Group). That
amount is nonetheless reduced by amounts received by way
of legal pension and, if necessary, other extra-legal pensions
acquired within the Dexia Group.
In the case of a career of 35 years in the Dexia Group, that
percentage would be equal to 80% of an annual fixed gross
reference compensation of EUR 665,233* for the Chairman
of the Management Board and, unless there is an exception,
of EUR 434,707* for other members of the Management
Board.
A supplementary survival pension is also provided for the
beneficiaries of all members of the Management Board in the
event of their death.
* These amounts are indexed each year.
COMPTES SOCIAUX
COMPENSATION AND OTHER ADVANTAGES OF MEMBERS
OF THE MANAGEMENT BOARD FOR THE YEAR 2006
(in thousands of EUR) Gross fixed Gross variable Pension Cover for Other
compensation (A) compensation plan (B) death, advantages (C)
disability,
medical
2005 2006 2005 2006 treatment
Axel Miller 550 725 587.08 989.63 175.76
(D)
26.2 (E)
Jacques Guerber 550 625 538.15 671.25 202.18
(D)
/
Dirk Bruneel 560 560 572.33 439.60 148.64
(D)
5.8 (F)
Xavier de Walque 420 500 328.50 525 112.65
(D)
6.3 (F)
Rembert von Lowis 450 500 366.94 410 115.93
(D)
/
(A) For Jacques Guerber, Rembert von Lowis and Dirk Bruneel (for his period of activity in the Netherlands), “employer’s” social contributions have been paid,
in addition to the amounts indicated in this section, by the Dexia Group.
(B) Amount borne by Dexia in 2006 for supplementary pension plans.
(C) An official car is provided to each member of the Management Board for professional and private use. Related costs are not included in the amounts
indicated in this section.
(D) Annual collective premiums of EUR 32,320 were paid in 2006 in favor of Belgian members of the Management Board for additional cover for death,
permanent disability and the costs of medical treatment, and EUR 14,160 in favor of the French members of the Management Board for additional cover
for death and disability.
(E) Annual lump-sum indemnity for costs of representation and hire of a car for private use.
(F) Annual lump-sum indemnity for costs of representation.
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Dexia / Annual Report 2006