Annual Report 2012 - Tivoli

❖ notes ❖DKK million 2012 201112 Staff expensesWages and salaries 281.4 267.9Defined contribution plans 19.9 19.0Other social security expenses 5.9 5.4Other staff expenses 5.5 4.1Wages and salaries are net of value of own work performed312.7 296.4on investments etc totalling 1.2 1.5Average number of employees 711 685Remuneration of Board of Directors, Executive Boardand senior executives:Remuneration 1.3 1.3Pension - -1.3 1.3Lars Liebst, CEOSalary including value of car 3.4 3.4Bonus 3.2 2.4Pension 0.5 0.57.1 6.3Claus Dyhr, CFOSalary including value of car 1.7 1.7Bonus 1.5 1.1Pension 0.2 0.23.4 3.0Total Executive BoardSalaries 5.1 5.1Bonus 4.7 3.5Pension 0.7 0.710.5 9.3Senior executivesSalaries and wages 5.6 6.2Bonus 1.9 0.6Pension 0.5 0.68.0 7.4Senior executives are the members of Tivoli's Senior Management Team (see page 10).Other than performance-based bonus programmes for the Executive Board and senior executives, Tivoli A/S has noincentive programmes, such as share option programmes etc. No unusual severance programmes have been agreed uponfor the Executive Board and there are no retention schemes.The basic fee paid to each member of the Board of Directors amounts to DKK 150,000. The Chairman of Tivoli's Board ofDirectors is remunerated by 3 times the basic fee, a total of DKK 450,000 and the Deputy Chairman by 1.75 times the basicfee, a total of DKK 262,500.53