H fifillslE3 141 31 Related party transactions Ahold at a glance Notes to the consolidated financial statements Our strategy Our performance Governan Financials Investors Ahold Annual Report 2013 Compensation of key management personnel Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. In 2013, the Company announced a new leadership structure. In place of the Corporate Executive Board and the Ahold Executive Team, a broader Executive Committee (ExCo) has been installed. The ExCo consists of the Management Board (formerly referred to as the Corporate Executive Board) and three other ExCo members. In light of the composition of the ExCo during 2013, the Company reassessed which persons constitute key management personnel as defined in IAS 24 "Related parties." The Company determined that key management personnel consist of the members of the ExCo and the members of the Supervisory Board. In 2012, the Company considered the members of the Management Board and the Supervisory Board to be the key management personnel. The total compensation of key management personnel amounts to €13,755 thousand (2012: €8,596 thousand, based on the definition of key management personnel as disclosed in the 2012 Annual Report). This includes a crisis levy in The Netherlands of €758 thousand (2012: €773 thousand) following the Budget Agreement 2013 Tax Measures Implementation Act that was extended in the 2014 Tax Plan. The crisis levy is €758 thousand (2012: €773 thousand) for members of the ExCo and nil for the members of the Supervisory Board (2012: nil). Employment contracts with individual Management Board members Dick Boer In 2013, the Company provided Dick Boer with a base salary of €975,000 on an annual basis, participation in the annual cash incentive plan and participation in the Company's equity- based long-term incentive plan (GRO - see Note 32). The at-target payout under the annual cash incentive plan is 100% of base salary and is capped at 1 50% in case of extraordinary performance. Unless Boer's employment agreement is otherwise terminated, he will be eligible for reappointment at the annual General Meeting of Shareholders in April 2015. In the event that the Company terminates his employment agreement for reasons other than cause or because he is not reappointed by the shareholders, Boer is entitled to a severance payment equal to one year's base salary. His employment agreement may be terminated by the Company with a notice period of 12 months and by Boer with a notice period of six months. Boer participates in Ahold's Dutch Pension Plan. Jeff Can- In 2013, the Company provided Jeff Carr with a base salary of €615,000 on an annual basis, participation in the annual cash incentive plan and participation in the Company's equity-based long term incentive plan (GRO - see Note 32). The at-target payout under the annual cash incentive plan is 1 00% of base salary and is capped at 150% in case of extraordinary performance. Furthermore, Carr receives a housing allowance of €7,000 net per month for the first term of four years. Unless Carr's employment agreement is otherwise terminated, he will be eligible for reappointment at the annual General Meeting of Shareholders in April 2015. In the event that the Company terminates his employment agreement for reasons other than cause or because he is not reappointed by the shareholders, Carr is entitled to a severance payment equal to one year's base salary. His employment agreement may be terminated by the Company with a notice period of 12 months and by Carr with a notice period of six months. Carr participates in Ahold's Dutch Pension Plan. Lodewijk Hijmans van den Bergh In 2013, the Company provided Lodewijk Hijmans van den Bergh with a base salary of €537,500 on an annual basis, participation in the annual cash incentive plan and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32). The at-target payout under the annual cash incentive plan is 100% of base salary and is capped at 150% in case of extraordinary performance. Unless Hijmans van den Bergh's employment agreement is otherwise terminated, he will be eligible for reappointment in 2014. In the event that the Company terminates his employment agreement for reasons other than cause or because he is not reappointed by the shareholders, Hijmans van den Bergh is entitled to a severance payment equal to one year's base salary. His employment agreement may be terminated by the Company with a notice period of 12 months and by Hijmans van den Bergh with a notice period of six months. Hijmans van den Bergh participates in Ahold's Dutch Pension Plan. James McCann In 2013, the Company provided James McCann with a base salary of €650,000 on an annual basis, participation in the annual cash incentive plan and participation in the Company's equity-based long-term incentive plan (GRO - see Note 32). The at-target payout under the annual cash incentive plan is 100% of base salary and is capped at 1 50% in case of extraordinary performance. Furthermore, McCann receives a housing allowance of $10,000 net per month for the first term of four years. Unless McCann's employment agreement is otherwise terminated, he will be eligible for reappointment at the annual General Meeting of Shareholders in April 2015. In the event that the Company terminates his employment agreement for reasons other than cause or because he is not reappointed by the shareholders, McCann is entitled to a severance payment equal to one year's base salary. His employment agreement may be terminated by the Company with a notice period of 12 months and by McCann with a notice period of six months. McCann participates in Ahold's Dutch Pension Plan.

Jaarverslagen | 2013 | | pagina 47