Landesbank Berlin Holding

44
Group management report Overview of the Group
The members of the Board of Management did
not receive any additional benefits for work carried
out for subsidiaries of the Holding and of LBB; in
particular, they received neither attendance fees nor
expense reimbursements.
Benefits from third parties were neither promised
to Board of Management members for their work as
a Board of Management member nor granted in the
financial year.
Benefits, which are promised to the members of
the Board of Management in the event of their duties
being terminated prematurely are:
In the event that members of the Board of Management
are unable to work as a result of accident or
illness, they are entitled to their full remuneration for
the following period: Mr. Tessmann up to six months,
Mr. Demolière up to one year, Dr. Evers, Mr. Kulartz
and Mr. Müller up to two years though not beyond the
end of their employment contracts. Following this
period, the members of the Board of Management
mentioned are entitled to a pension because of
occupational disability. If Mr. Müller or Mr. Tessmann
resigns because of invalidity, each will receive an
invalidity pension from the following month, the
amount of which is measured in accordance with
the provisions for the pension, with periods of
invalidity not counting as a member of the Board
of Management.
In the event of the contractual relationship being
dissolved by LBB, which is not triggered by good
cause on the part of the Board of Management
member (Article 626 of the German Civil Code), the
members of the Board of Management are entitled
to payment of a pension.
Dr. Veit made use of the right granted in the contract
of employment concluded with him and
retired of his own volition after his 62nd birthday.
The current members of the Board of Management
Mr. Kulartz and Mr. Tessmann are also entitled to
do this. After their 60th birthdays, the service
agreements can be terminated by Dr. Evers and
Mr. Demolière or by LBB. The members of the
Board of Management will then receive their pensions
before their 65th birthdays.
Benefits, which are promised to the members of the
Board of Management in the event of their duties
being terminated normally are:
The members of the Board of Management are
entitled to a pension following the end of the contractual
relationship as a result of reaching their
65th birthday and as a result of their appointment
ending, Mr. Tessmann following the end of a reappointment,
if the appointment is not renewed once
more, unless an extension of the appointment and
contract of employment at the same terms or terms
that are no worse is refused or there is good cause
as defined in Article 626 (1) of the German Civil Code.
During the first six months following their retire-
ment from the Company’s service, members of the
Board of Management are entitled to their official
remuneration but payment of their pension will start
from the seventh month. In the case of Mr. Müller
and Mr. Tessmann, their pension will be paid in the
first month following his retirement from the Company’s
service.
Pensions are measured by a certain percentage of
pensionable fixed salaries, which increases by 2 %,
by 1.34 % for Mr. Tessmann, for each year spent as
a member of the Board of Management. A maximum
percentage is contractually agreed for each Board
of Management member. The basis of measurement
for pensions is 100 % of pensionable fixed salaries,
or only 69 % for Mr. Demolière.