I rt lla - 2009 Remuneration overview 67 The Supervisory Board may at its sole discretion adjust the number of shares that would have vested under the plan rules based on the above described vesting schedule downwards or upwards if the vesting of shares based on plan rules would produce an unfair result due to extraordinary circumstances. The Supervisory Board can also recover from the Executive Board any shares which vested on the basis of incorrect financial or other data (clawback provision). The net vested performance shares are subject to an additional holding restriction of two years. Pensions The members of the Executive Board can either participate in the Defined Contribution Plan or in a Capital Creation Plan. In the Defined Contribution Plan, apart from the survivor's pension, a separate lump sum of two times base salary will be paid in the event of death whilst in service. Ii the Capital Creation option the Executive Board member may elect to receive as income the Defined Contribution f emium amounts from the pension scheme, less an amount t juivalent to the employee contribution. Instead of a s wivor's pension, a lump sum of, depending on age, ten, e |ht, six or four times base salary will be paid, in the event death whilst in service. 7 e retirement age is 65, but individual Executive Board r embers may retire earlier with a reduced level of benefit. ntribution rates are designed to enable the current 1 ecutive Board members to retire from the Company a the age of 62. 7 e following table gives details of the remuneration i ieived by each member of the Executive Board in 2009. Long-term incentive No. of performance shares Value of vested for vested shares UR Base salary Short-term incentive' 2007-2009 for 2007-2009 Pension cost 1 Boxmeer 750,000 1,125,000 - - 379,280 >ft Graafland 550,000 618,750 314,569 ort-term incentive is based on results achieved in 2009 and therefore payable in 2010. Realisation 2009 short-term incentive The STI awards for 2009 were subject to achievement of organic net profit growth and cash conversion rate targets in combination with individual targets. The specific targets are commercially sensitive and cannot be disclosed. The Supervisory Board measured the results against the set targets and determined the STI payment for 2009 to be equal to 150 per cent of payout at target level for the CEO and 150 per cent of payout at target level for the CFO. Annual Report 2009 - Heineken N.V.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2009 | | pagina 64