No power train without Miba technology

Expenditures for severance payments and contributions to company-sponsored employee
provision funds and the expenses for post-retirement benefits are comprised of the following:
2009-2010 2008-2009
Severance payments Severance payments
and payments to and payments to
company Retirement company Retirement
TEUR benefit funds benefits benefit funds benefits
Management Board members,
managing directors and
executive employees –47 412 130 252
Other employees 2,034 665 2,158 455
Total 1,986 1,077 2,288 707
The compensation system for Board members aims to adequately compensate the Board
members in accordance with their scope of activities and responsibilities and in line with
domestic and international compensation packages. For the business unit Management
Boards, a significant part of this compensation varies based on the company’s results. The
annual bonus is a variable cash payment, the amount of which is determined on the basis
of individual objectives and results-based targets.
Management Board members have individual pension arrangements, and the company
pays defined amounts to the Management Board members. The Chairman of the Management
Board has an additional “old” pension plan, which provides a fixed valueprotected
pension. This obligation is covered through pension reinsurance.
The statutory provisions currently in effect in Austria apply to the termination of employment
of Management Board members.
Compensation to the Board Members in the past business year totaled TEUR 1,326 (previous
year: TEUR 1,054), of which TEUR 488 (previous year: TEUR 218) consisted of variable
salary components. No compensation was granted to former Management Board
members or their surviving dependents.
Expenses for retirement benefits were as follows:
2009-2010 2008-2009
TEUR TEUR
Members of the Management Board 412 –124
121