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36 corporate governance Statement Remuneration report1 Structure of the remuneration system for the Board of Management in conformity with the German corporate governance code, we here explain the

According to item 4 of the German corporate governance code — remuneration (inflated to current value) For the year 2009, the total remuneration consists of: the total of all compensation packages for the Board of Management as a whole (i.e. the remuneration for the Board of Management, the executive committee, the audit committee and the insurance company staff); a basic salary of €250,000; a commission for each of the first 4 years of continuous employment, as in the case of the CEO of Munich Re, which amounts to 5% per annum. Additional salary for the Board of Management as a whole, which amounts to 10% per annum. On a cumulative basis, the total remuneration consists of: 12% of the total salary of the board of management as a whole, as per item 4 of the German corporate governance code. Additional salary for the senior management in each of the three segments of the institution which is relevant for the board of management as a whole, and 6% (at €1,500 per month for the CEO) of the total salary of the Board of Management as a whole, as per item 4 of the German corporate governance code. Total remuneration consists of these components multiplied by €1,500 per month (for the board of management as a whole), as per item 4 of the German corporate governance code. The maximum monthly salary is thus €21,534, an annual salary of €1,000,000. The annual salary for the highest-paid member of the Board of Management is calculated as per item 1 for Munich Re (see also item 1 of item 8 of the German corporate governance code). Total remuneration as a gross amount of €1,534,000 (equivalent to 18.5% of the turnover of the institution) is also available by presenting the following total figures for Munich Re in the Annual Report of Munich Re: the total of remuneration for the Board of Management in total plus the additional salary of the board of management of the highest-paid member of the Board of Management (total compensation as a gross amount of €1,533,000); the total of all three compensation packages of the top 10 management (total compensation as a gross amount of €1,527,000); the total of all three compensation packages of the top 3 executives (total compensation as a gross amount of €1,501,200).

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What is remuneration report - munich?

The remuneration report in Munich is a document that provides information about the compensation and benefits received by individuals within an organization, typically executives and board members. It is intended to enhance transparency and accountability regarding the remuneration practices in an organization.

Who is required to file remuneration report - munich?

Companies in Munich and other jurisdictions may have different requirements for filing a remuneration report. It is typically required for publicly listed companies or those with a certain size or number of employees. It is advisable to consult the local regulations and legal requirements to determine which companies are required to file a remuneration report in Munich.

How to fill out remuneration report - munich?

Filling out a remuneration report in Munich may involve gathering relevant compensation and benefits data for the specified reporting period. Companies may need to provide information about the remuneration policies, individual executive and director compensation, pensions, share-based payments, and any other relevant details. It is important to follow the reporting guidelines provided by the local regulatory authorities and seek professional assistance if needed.

What is the purpose of remuneration report - munich?

The purpose of a remuneration report in Munich is to promote transparency and accountability in relation to executive and director compensation. It allows stakeholders, including shareholders, employees, and the public, to understand how executives and directors are rewarded and incentivized. It can help identify any potential conflicts of interest or excessive compensation, and foster better corporate governance.

What information must be reported on remuneration report - munich?

The information that must be reported on a remuneration report in Munich may vary depending on local regulations and legal requirements. However, it typically includes details about individual executive and director compensation, including salaries, bonuses, stock options, and other benefits. It may also cover information about pensions, share-based payments, and any other elements of remuneration. It is essential to consult the specific reporting guidelines provided by the local regulatory authorities.

When is the deadline to file remuneration report - munich in 2023?

The deadline to file a remuneration report in Munich in 2023 may vary depending on the specific jurisdiction and reporting period. It is advisable to consult the local regulatory authorities or seek professional advice to determine the exact deadline. The deadline is typically set in accordance with the company's financial year-end or within a specified period after the end of the reporting period.

What is the penalty for the late filing of remuneration report - munich?

The penalties for the late filing of a remuneration report in Munich may vary depending on the specific jurisdiction and local regulations. It is important to consult the local regulatory authorities or seek legal advice to understand the potential penalties and consequences for late filing. Penalties may include financial penalties, reputational damage, or other regulatory sanctions.

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