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Allianz Annual Report 2012

Annual Report 2012    Allianz Group −− Set a remuneration structure to allow for proper over- sight of business as well as for adequate decisions on executive personnel and remuneration. REMUNERATION STRUCTURE AND COMPONENTS The Supervisory Board discussed changes to the remunera- tion structure during the second half of 2010, considering a review of market practices and developments by Kienbaum Management Consultants. The new remuneration structure, which comprises fixed and committee-related remunera- tion only, was approved by the Annual General Meeting 2011 and is laid down in the Statutes of ­Allianz SE. It became effective for the financial year 2011. Fixed annual remuneration The remuneration of a member of the Supervisory Board consists of a fixed cash amount paid after the end of each business year to a Supervisory Board member for services rendered over that period. A regular Supervisory Board member receives a fixed remuneration of € 100  Thou per year; each deputy Chairperson receives € 150  Thou and the Chairperson € 200  Thou. Committee-related remuneration The Chairperson and members of the Supervisory Board committees receive additional committee-related remu- neration.Thecommittee-relatedremunerationisasfollows: Committee-related remuneration B 016 € thou Committee Chair Member Personnel Committee, Standing Committee, Risk Committee 40 20 Audit Committee 80 40 Nomination Committee – – Attendance fees and expenses In addition to the fixed and committee-related remunera- tion, members of the Supervisory Board receive an atten- dance fee of € 750 for each Supervisory Board or committee meeting they attend in person. Should several meetings be held on the same or on consecutive days, the attendance fee will be paid only once. ­Allianz SE reimburses the mem- bers of the Supervisory Board for their out-of-pocket ex- penses and the VAT payable on their Supervisory Board activity. For the performance of his duties, the Chairman of the Supervisory Board is furthermore entitled to an office with secretarial support and use of the ­Allianz carpool service. In the financial year 2012, ­Allianz SE reimbursed expenses totaling € 42,873. 88

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