Erste Bank JPMorgan Merrill Lynch International

The Managing Board is comprised of the following individuals:
Chairman:
Dr. Günter Geyer
General Manager, Chairman of the Managing Board
Member of the Managing Board since 1988
Members:
Dkfm. Karl Fink
Deputy General Manager
Member of the Managing Board since 1987
Mag. Christian Brandstetter
Member of the Managing Board since 2003
(until 31 December 2006)
Dr. Rudolf Ertl
Member of the Managing Board since 2001
Dr. Peter Hagen
Member of the Managing Board since 2004
Ing. Mag. Robert Lasshofer
Member of the Managing Board since 1999
Dr. Martin Simhandl
Member of the Managing Board since 2004
There were no loans outstanding to Managing Board members as of 31 December 2006.
No guarantees existed for Managing Board members as of 31 December 2006.
Compensation plan for Managing Board members:
The earnings of Managing Board members are comprised of a fixed (approximately 60%) and a
variable (approximately 40%) component.
Profit participation is essentially measured in terms of the result from ordinary activities, both of
the Company and the Group. There is a maximum limit on profit participation. The Managing Board
does not participate in profits if the result from ordinary operations falls below certain thresholds. The
standard employment agreement of a WIENER STÄDTISCHE Versicherung AG VIENNA INSURANCE
GROUP Managing Board member includes a pension plan obligation which can equal at most 40% of
the measurement basis if the member remains in the Managing Board until the age of 65 (the
measurement basis is essentially equal to the fixed salary). The rules for Managing Board members
with many years of prior employment differ in part. The rules for Managing Board members with many
years of prior employment differ in that the percentage of the measurement basis based on past
employment is higher (up to 55%), and increases can be awarded if the Supervisory Board would like
a member to remain in the Managing Board after the age limit has been reached. A pension is
received only if a Managing Board member’s position is not extended through no fault of the member,
or the Managing Board member retires due to illness or age.
The Managing Board agreements of WIENER STÄDTISCHE Versicherung AG VIENNA INSUR-
ANCE GROUP make provision for a post-employment benefit claim, which is essentially structured
according to the model of the old post-employment benefit provision in the Austrian Employee Act
(Angestelltengesetz) in combination with relevant sector-specific arrangements. Under these provisions,
depending on the period of service, Managing Board members can receive two to twelve
months’ compensation, with an increase of 50% if the member retires or withdraws after a long-term
illness. A member who withdraws of his or her own volition before retirement is possible, or withdraws
due to a fault of his or her own, is not entitled to post-employment benefits.
In 2006, the total expenses for post-employment benefits and pensions of EUR 22.412 million
(2005: EUR 15.718 million) included post-employment benefit and pension expenses of EUR
8.291 million (2005: EUR 7.732 million) for Managing Board members and senior management
according to § 80 (1) of the Austrian Stock Corporation Act (AktG).
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