101.
26. Related parties
Identity of related parties
Heineken also has a related-party relationship with its associates (refer note 11), joint ventures (refer note 31),
Heineken Holding N.V., Heineken pension fund and with its Executive Board and the Supervisory Board.
oard remuneration
lions of EUR 2005 2004
xecutive Board
16.7
6.7
upervisory Board
0.3
0.2
17.0
6.9
xecutive Board
The remuneration of the members of the Executive Board comprises a fixed component and a variable
component. The variable component is made up of a Short-Term Incentive Plans and a Long-Term Incentive
Plan. The Short-Term Incentive Plan is based on an organic net profit growth target and specific year
targets as set by the Supervisory Board. The Long-Term Incentive Plan includes performance share rights
id is linked to Heineken's Relative Total Shareholder Return (RTSR) performance in comparison with the
SR performance of a selected peer group.
he performance period for share rights granted in 2005 is from 1 January 2005 to 31 December 2007.
he vesting date is five business days after the publication of the annual results of 2007 after which
two-year restriction on the sale of the shares starts. We refer to the separate remuneration report
n page 56. In 2005, Mr. J.F.M.L. van Boxmeer was awarded 14,244 performance shares rights and
lessrs M.J. Bolland and D.R. Hooft Graafland were awarded 13,250 performance shares rights. At target
>erformance, 100 percent of these shares will vest. At maximum performance 150 percent of these
lares will vest.
he costs recognised are measured at grant date using the Monte Carlo model taking into account the
2rms and conditions of the plan.
>s at 31 December 2005, the members of the Executive Board did not hold any of the Company's shares,
onds or option rights, other than under the Long-Term Incentive Plan aforementioned. One of the
xecutive Board members held 790 shares of Heineken Holding N.V. as at 31 December 2005.
Heineken N.V. - Annual Report 2005