Highest compensation paid to a member of the Management Board 1 1 in CHF 000 2013 2012
Type of compensation Fees/salaries 831 Performance bonus and share of profits paid in cash 676 Share of profits paid in shares 158 Pension and social security contributions 204 Expense reimbursements 23 Total 1 891
997 807 808 261 23 2 895
1 2013 – Compensation Christoph Tonini (Chief Executive Officer) 2012 – Compensation Martin Kall (Chief Executive Officer until 6 December 2012)
Profit participation programme for members of the Management Board The current profit participation programme is valid for 2013. Members of the Management Board are entitled to participate as of their second year of service. A payment is made when the profit margin (net income in relation to net revenues) reported by the Tamedia Group exceeds 8.0 per. A profit participation, which will be determined at the time, will be paid out of any amount exceeding the profit margin of 8.0 per cent, with 50 per cent being paid in cash and the remaining 50 per cent in shares. Other than that, the same conditions apply as for the profit participation programme for employees (see note 43 of the consolidated financial statement). The cash amount will be paid out following publication of the consolidated annual financial statements of Tamedia. The shares will be allocated in the accounting year in which entitlement is acquired. The number of shares to be allocated will be determined based on the average share price over the 30 days prior to 31 December of the respective accounting year. The shares will only be transferred if the beneficiary has not given notice of termination of employment prior to 31 December of the third year after the accounting year in which entitlement to the share allocation was acquired. Recognition in the income statement is made on a pro rata basis over four years. This pro rata recognition over four years can result in pro rata recognition in reporting periods in which no new entitlement to a profit participation is acquired. For the shares allocated in the 2010, 2011 and 2012 financial years, a personnel expense of CHF 0.02 million, CHF 0.11 million and CHF 0.07 million respectively was recognised. For the 2013 financial year, the Management Board will be granted a profit participation of CHF 1.51 million, with CHF 0.15 million being recognised as a personnel expense for the shares allocated. Under the profit participation programme, 12,875 treasury shares were issued in total for former members of the Management Board for the 2010, 2011 and 2012 financial years. Measured in terms of market value on the allocation date, the total value of these shares is CHF 1.5 million.
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