Shareholders' Letter

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Compensation for the members of the Group Executive Board Total Total Group Group Executive Executive Thereof Thereof Board Board Carsten Schloter Carsten Schloter In CHF thousand 2010 2009 2010 2009 Fixed base salary paid in cash 4,889 5,474 770 770 Variable earnings-related compensation paid in cash 3,333 3,280 707 651 Non-cash compensation 76 80 17 15 Share-based payments variable 1,323 1,079 280 258 Benefits paid following retirement from Group Executive Board 664 640 – – Retirement benefits 1,054 1,165 125 125 Severance payments – – – – Total compensation to members of the Group Executive Board 11,339 11,718 1,899 1,819 The compensation paid to the Group Executive Board consists of a basic salary, a variable performance-related share of profits as well as non-cash benefits and additional benefits (in particular company car) as well as pension benefits. The variable performance-related share of profits is fixed in the subsequent year on the basis of the consolidated financial statements and the incentive targets fixed in the year under review and is paid out in April of the following year. Apart from a 100% cash payment in the case of one member who did not participate in the equity-share participation programme and one member who resigned from the Group Executive Board as of the end of August 2009, 75% of the variable performance-related share of profits are paid out in cash and 25% in Swisscom shares to the remaining members of the Group Executive Board with the exception of one member with a cash portion of 64% and an equity-share portion of 36%. In the reporting period, two members each were awarded a bonus in the form of shares or shares and cash. The shares are allocated on the basis of their value accepted for tax purposes – rounded up to the next whole number of shares – and are subject to a three-year retention period. The sharebased compensation for the reporting period is augmented by a factor of 1.19 in order to take account of the difference between the market value and the tax value. The market value is determined as of the acquisition date of the shares in case of their purchase (usually three weeks before their allocation) or, if treasury shares are allocated, as of the date of their allocation. Shares in respect of the current year are allocated in April 2011. As regards the financial year 2009, a total of 2,767 shares with a tax value of CHF 328 and a market value of CHF 392 per share were allocated to members of the Group Executive Board in April 2010. In April 2009, 3,254 shares with a tax value of CHF 265 and market value of CHF 316 per share were allocated in respect of the 2008 financial year. As regards the disclosure of non-cash benefits and expenses, these are dealt with from a tax point of view. Of the non-cash benefits reported, only a share of the use of a company car is thus included in the reported compensation. Reported pension benefits (amounts which give rise to pension entitlements or increase pension benefits) encompass all savings and risk contributions paid by the employer to pension plans, including proportionate contributions to constitute fluctuation reserves for changes in plan asset values. All compensation was accrued in accordance with the International Financial Reporting Standards (IFRS). The highest compensation in the reporting year and prior year was paid to the CEO of Swisscom Ltd, Carsten Schloter. Swisscom has granted no sureties, guaranties or pledges in favour of third parties or other collateral to any of the persons impacted by the reporting obligation. No compensation was paid to former members of the Group Executive Board in connection with their earlier activities as a member of a governing body of the Company and which is not at arm’s length. The compensation disclosed does not include the employer’s share of social security contributions in particular for old age, accident and unemployment insurance. The social security contributions for the Group Executive Board in 2010 totalled CHF 1.1 million (prior year: CHF 1.1 million). Payments to related parties Related parties are spouses and common-law spouses, close relatives who are financially dependent on the member of the governing body or live in the same household, other persons who are financially dependent on such individuals as well as partnerships or corporate entities that are controlled by the member of the governing body or over which the individual exercises a significant
influence. Parents, siblings and children are also considered to be related parties. During the reporting year, no payments were made to individuals who are closely related to any member of the Board of Directors or the Group Executive Board which is not at arm’s length. Loans and credits granted Swisscom has granted no loans and credits to present or former members of the Board of Directors and the Group Executive Board nor has it waived any rights to amounts due from such individuals. Further information Further information on compensation paid to management members is set out in the Remuneration Report on page 127. 13 Shareholdings of the members of the Board of Directors and the Group Executive Board The table below discloses the shares held by the members of the Board of Directors and the Group Executive Board as of 31 December 2009 and 2010. Shares Shares Number 31.12.2010 31.12.2009 Anton Scherrer 2,169 1,695 Hugo Gerber 589 451 Michel Gobet 956 818 Torsten G. Kreindl 674 514 Hansueli Loosli 1 271 133 Catherine Mühlemann 579 441 Felix Rosenberg 2,223 2,017 Richard Roy 674 514 Othmar Vock 852 692 Total shares of the members of the Board of Directors 8,987 7,275 Carsten Schloter (CEO) 4,172 3,511 Ueli Dietiker 2,720 2,323 Kathrin Amacker-Amann 2 40 – Eros Fregonas 1,259 817 Guido Garrone 3 – – Heinz Herren 515 426 Stefan Nünlist 4 – 443 Christian Petit 955 687 Günter Pfeiffer 5 – 475 Daniel Ritz 778 560 Urs Schaeppi 1,005 1,034 Total shares of the members of the Group Executive Board 11,444 10,276 1 Elected as of 21 April 2009. 2 Joined as of 1 October 2010. 3 Resigned as of 31 December 2010. 4 Resigned as of 31 May 2010. 5 Resigned as of 31 October 2010. No share of the voting rights of any person required to make disclosure thereof exceeds 0.1% of the share capital. 220 | 221 Financial statements of Swisscom Ltd Notes to financial statements
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2010 Annual Report
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Our promise We bring people togethe
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KPI’s of Swisscom Group In CHF mi
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Fastweb Fastweb is the third larges
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Swisscom share performance in 2010
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Changes to the Board of Directors T
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Management Commentary We combine th
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Environment, strategy and organisat
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See www.swisscom.ch/ networkcoverag
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Development of exchange rate CHF/EU
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Regulatory developments in Switzerl
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Market shares mobile subscribers in
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Market shares IT services in Switze
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Subsidiaries Associates 6 Board of
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Maximise Maximise our market positi
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Enterprise value In CHF million, ex
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Share performance 1998-2010 in CHF
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Employees Swisscom offers employees
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Full-time equivalent employees at e
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Staff development Swisscom makes ta
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Employee satisfaction In May 2010 S
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Staff recruitment Recruiting new st
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Financial review Group Development
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Share of operating segments in net
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Net financial result Net financial
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Operating segment results Developme
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Swisscom TV customer base increased
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Development of third-revenue in CHF
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Development of third-revenue in CHF
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Development of third-revenue in EUR
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Quarterly review 2009 and 2010 1. 2
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Quarterly review 2009 and 2010 1. 2
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Due to the early termination of cro
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Development of net debt in CHF mill
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Development of capital expenditure
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Risks Taking calculated risks - the
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Measures are in place for most risk
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Environmental and health risks Elec
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Ecology Leading role in business pr
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Objectives/Strategy Board of Direct
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See www.swisscomnature.ch/ CRblog P
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Materiality matrix Swisscom 2010 Ma
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See report page 100 See www.swissco
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Environmentally friendly products a
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See www.icnirp.org See www.swisscom
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Access for all See www.swisscom.ch
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See www.snowfriends.ch Internet for
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Energy-efficient infrastructure tio
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See www.cdproject.net/en-US the pas
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Innovation and development Swisscom
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GRI topics / KPI Objective Status /
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Corporate Governance and Remunerati
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See www.swisscom.ch/basicprinciples
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2 Capital structure 2.1 Capital At
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3 Board of Directors 3.1 Members of
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Hugo Gerber Michel Gobet Thorsten G
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Felix Rosenberg Richard Roy Othmar
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See report Page 128 3.6 Committees
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See report Page 69 3.9 Controlling
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4 Group Executive Board 4.1 Members
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Kathrin Amacker-Amann Eros Fregonas
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Urs Schaeppi Urs Schaeppi Swiss cit
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6.2 Statutory quorum requirements T
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8.4 Supplementary fees The suppleme
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Remuneration report See report Page
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Remuneration paid to the Board of D
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sizes domiciled in Switzerland and
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Clause on change of control The emp
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Financial Statements Swisscom’s b
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Consolidated income statement In CH
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Consolidated statement of cash flow
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Notes to the consolidated financial
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The exchange rates of significance
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3.8 Business combinations and goodw
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on sale-and-leaseback transactions
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of radio services, multi-platform s
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3.23 Income taxes Income taxes incl
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In CHF million Reported Adjustments
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Provisions for interconnection and
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The main reasons for the recognitio
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6 Segment information Operating seg
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Other Group Swisscom operating Head
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7 Net revenue In CHF million 2010 2
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Fastweb Employees of the Italian su
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The analysis of the comPlan’s pen
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Page 173 and 174: 15 Income taxes In CHF million 2010
Page 175 and 176: Balance Recognised Change in Foreig
Page 177 and 178: Analysis of maturity and allowances
Page 179 and 180: acquisitions. Other derivative fina
Page 181 and 182: Land, Advances made buildings and a
Page 183 and 184: As of 31 December 2010, other intan
Page 185 and 186: The following table provides select
Page 187 and 188: Private placements Carrying amount
Page 189 and 190: The future payments of the liabilit
Page 191 and 192: Since 2000, several telecommunicati
Page 193 and 194: in the Federal Administrative Court
Page 195 and 196: Other reserves Cumulative foreign c
Page 197 and 198: The following currency risks and he
Page 199 and 200: tional Swaps and Derivatives Associ
Page 201 and 202: Asset/liability categories and fair
Page 203 and 204: Asset/liability categories and resu
Page 205 and 206: In 2009, Swisscom terminated intere
Page 207 and 208: The value-added tax receivables are
Page 209 and 210: Key management compensation In CHF
Page 211 and 212: 41 List of Group companies Register
Page 213 and 214: Registered Registered Shareholding
Page 215 and 216: Report on Other Legal Requirements
Page 217 and 218: Balance sheet In CHF million Note 3
Page 219 and 220: 6 Treasury shares Swisscom Ltd reco
Page 221: Base emoluments and functional allo
Page 225 and 226: Report of the statutory auditor Rep
Page 227 and 228: Further Information Discovering new
Page 229 and 230: Glossary Technical terms ADSL (Asym
Page 231 and 232: LAN (Local Area Network) A LAN is a
Page 233 and 234: Networks Access network Swisscom’
Page 235 and 236: Financial terms Average minutes per
Page 237 and 238: Other terms Bit-stream access (BSA)
Page 239: Index of keywords Board of Director
Page 242: Publishing details Key dates > 17 F
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Shareholders' Letter

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