Overview
Report of the
Executive Board
Report of the
Supervisory Board
Financial statements
Other information
Summary overview of remuneration elements
The Executive Board's remuneration policy is simple and transparent in design, and consists of the following key elements:
Remuneration element
Description
Base salary
Short-term variable pay
Pensions
involves fixed cash compensation
aims for the median of the labour market peer group.
attraction
reward for performance of day-to-day activities.
Long-term variable award
is based on achievements of annual measures,
of which a weighted 75 per cent relate to financial
measures for Heineken N .V. and 2 5 per cent to
individual leadership measures
aims, at target level, for the median of the labour
market peer group
is partly paid in cash, and partly in investment shares
with a holding restriction of five calendar years:
- the part paid in shares is between 25-50 per cent of
the full gross pay, depending on the
individual's choice
- the part in cash is paid net of taxes (i.e. after
deduction of withholding tax due on the full
gross pay)
investment shares are matched on a 1:1 basis after the
holding period.
is based on achievements of three-year financial
targets for Heineken N.V.
aims, at target level, for the median of the
labour market peer group
is awarded through the vesting of shares, net of
taxes (i.e. after deduction of withholding tax due
on the full gross award)
vested shares are blocked for another two years,
to arrive at a five-year holding restriction after
the date of the conditional performance grant.
Defined Contribution Pension Plan or Capital
Creation Plan.
drive and reward annual
HEINEKEN performance
drive and reward sound business decisions
for the long-term health of HEINEKEN
align Executive Board and shareholder interests.
drive and reward sound business decisions
for the long-term health of HEINEKEN
align Executive Board and shareholder
interests
support Executive retention.
provide for employee welfare and
retirement needs.
Heineken N.V. Annual Report 2012
61
