107
31 Related party transactions continued
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-
-
-
-
-
-
-
-
-
-
-
-
-
Notes to the consolidated financial statements continued
Ahold
Annual Report 2010
Group at a glance
Performance
Governance
Financials
Investors
Remuneration of the individual Corporate Executive Board members
The remuneration of the individual Corporate Executive Board members, which is disclosed as of the year the member's appointment was
approved by the General Meeting of Shareholders, can be specified as follows:
Direct remuneration Deferred remuneration
Total direct
Share-based
Total
thousand
Base salary
Bonuses1
Other2 remuneration
compensation3
Pensions4
remuneration
Dick Boer
2010
638
574
14
1,226
720
117
2,063
2009
625
488
14
1,127
632
186
1,945
Kimberly Ross
2010
550
495
174
1,219
503
162
1,884
2009
500
390
159
1,049
384
78
1,511
Lodewijk Hijmans van den Bergh
2010
500
450
11
961
98
149
1,208
2009
John Rishton5
2010
945
851
189
1,985
(275)
257
1,967
2009
945
737
173
1,855
830
193
2,878
Lawrence Benjamin6
2010
745
663
139
1,547
1,486
349
3,382
2009
683
517
128
1,328
188
149
1,665
Peter Wakkie7
2010
2009
600
468
8
1,076
1,834
170
3,080
Total 2010
3,378
3,033
527
6,938
2,532
1,034
10,504
Total 2009
3,353
2,600
482
6,435
3,868
776
11,079
1 Bonuses represent accrued bonuses to be paid in the following year.
2 "Other" mainly includes allowances for housing expenses, international school fees, employer's contributions to social security plans, and benefits in kind such as tax advice, tax
compensation, and medical expenses, and the associated tax gross up.
3 The amounts represent the share-based compensation expense calculated under IFRS 2. The fair value of each year's grant is determined on the grant date and expensed on a
straight-line basis over the vesting period. The expense for 2010 reflects this yeafe portion of the share grants over the previous five years (2006 to 2010), whereas the expense for
2009 reflects that year's portion of share grants for the four years from 2006 to 2009.
4 Pension costs are the total net periodic pension costs.
5 John Rishton resigned from the Corporate Executive Board on February 28, 2011The share-based compensation expense related to John Rishton's service period during 2010
was €317,000 (inclusive of shares vesting in 2011). In addition, an amount of €592,000 was reversed, representing the share-based compensation expense recognized in the
previous years related to shares that were forfeited (three-year grants for 2009 and 2010 and the five-year grants for 2007, 2008, 2009, and 2010).
6 Under the GRO program, all retirees are allowed to retain shares that have been granted to them and normal vesting conditions apply. Lawrence Benjamin's service period, for
share-based compensation expense purposes, ended with his retirement eligibility date on December 12010. The share-based compensation expense related to the service
performed by Lawrence Benjamin during 2010 was €402,000. In addition, an amount of €1,084,000 was recognized, representing the remaining unamortized expense on the non-
vested portion of GRO shares granted to him, as his service period ended with his retirement eligibility.
7 Peter Wakkie's service period ended with his retirement on December 312009. The share-based compensation expense related to the service performed by Peter Wakkie during
2009 was €551,000. In addition, an amount of €1,283,000 was recognized, representing the remaining unamortized expense on the non-vested portion of GRO shares granted to
him, as his service period ended with his retirement.
