Compensations

The compensation paid by VZ Holding Ltd and its subsidiaries to the Board of Directors for the 2012 financial year amounted to TCHF 125 (2011: TCHF 125).

Matthias Reinhart’s compensation as Chairman and Delegate of the Board of Directors is not included in this figure. His compensation is disclosed in combination with his compensation as CEO.

The compensation paid to the Group Executive Board totalled TCHF 4’996 (2011: TCHF 4’817). This sum comprises the fixed basic salary (including pension fund contributions paid by the employer) as well as bonus payments for the 2012 financial year.

Shareholdings

As at 31 December 2012 Matthias Reinhart owned 60.76% of the shares and voting rights (directly and indirectly). The other members of the Board of Directors held 1.26%. The members of the Group Executive Board owned 3.59% of the shares and voting rights.
 

Options

Options on shares are granted in connection with the share based management benefit programme. The benefit programme includes executive members of the management only; the non-executive members of the Board of Directors are not eligible for options under this programme. The members of the Group Executive Board including Matthias Reinhart held a total of 93’724 options as at 31 December 2012 (2011: 94’476).
 

Additional fees and compensation

Legal fees totalling TCHF 327were paid in 2012 to Blum & Grob Rechtsanwälte (2011: TCHF 244). Blum & Grob is represented by Dr. Albrecht Langhart, member of the Board of Directors of VZ Group. These services are charged at market rates. VZ Group also acquires further goods and services from companies with which members of the Board of Directors are associated. The scope of these services does not impair the independence of the members of the Board of Directors.

Loans

As at the end of 2012 there were no outstanding loans to members of the Board of Directors or the Group Executive Board.
 

Highest compensation

Matthias Reinhart, Chairman and Delegate of VZ Holding Ltd, received compensation of TCHF 852 for 2012 (2011: TCHF 835). This amount comprises a fixed basic salary (including pension fund premiums paid by the employer) and the bonus for the business year 2012.

Legal information