[35] Additional information about the Supervisory Board and Executive Board

Disclosed below are the total emoluments of the Executive Board and the Supervisory Board as required by § 315a (1) in conjunction with § 314 (1) No. 6 of the German Commercial Code (HGB). The information required by IAS 24.17 regarding the total emoluments of the Executive Board is also reported in this Note.

Supervisory Board

The total emoluments of the Supervisory Board shown in the table below are based on the cost incurred in the financial year in accordance with IAS 24.17.

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Emoluments of the Supervisory Board (incl. VAT)

 

 

 

 

 

in EUR

 

2015

 

2014

Fixed emoluments

 

2,891,700

 

2,891,700

Attendance fees

 

97,580

 

94,010

Total emoluments

 

2,989,280

 

2,985,710

At 31 December 2015, there were no advances or loans to members of the Supervisory Board. This was also the case at 31 December 2014.

Executive Board

The total emoluments of the Executive Board in accordance with the provisions of the German Commercial Code (HGB) and German Accounting Standard DRS 17 were as follows:

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Emoluments of the Executive Board in accordance with the German Commercial Code (HGB)

 

 

 

 

 

in EUR

 

2015

 

2014

Fixed emoluments/Benefits in kind/Other benefits

 

4,295,945

 

4,263,230

Variable cash emoluments short-term

 

4,369,260

 

4,622,705

Variable cash emoluments long-term

 

2,912,840

 

3,081,804

Total cash emoluments

 

11,578,045

 

11,967,739

Long Term Incentive Plan (value on the grant date)

 

3,374,969

 

3,124,883

Total emoluments

 

14,953,014

 

15,092,622

Service cost for pension obligation

 

1,590,875

 

1,022,807

Total emoluments (HGB)

 

16,543,889

 

16,115,429

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Shares granted from share-based payments

 

 

 

 

 

 

 

 

 

 

 

2015

 

2014

 

 

units

 

Value per unit when granted in EUR

 

units

 

Value per unit when granted in EUR

Options (LTIP 2012)

 

40,231

 

67.11

 

38,450

 

65.02

Matching shares (LTIP 2012)

 

4,275

 

157.91

 

4,463

 

140.01

In the reporting year as well as the in the year before, there were no advances or loans to members of the Executive Board.

Total remuneration paid to former members of the Executive Board and their surviving dependants amounted to EUR 2,214,936 (2014: EUR 3,290,586). A provision of EUR 58,771,380 (2014: EUR 58,273,773) has been made in The Linde Group for current pensions and future pension benefits in respect of former members of the Executive Board and their surviving dependants. Within Linde AG, the corresponding provision was EUR 50,381,450 (2014: EUR 44,793,684).

The emoluments of the Executive Board in accordance with IAS 24.17, based on the cost incurred in the financial year, were as follows:

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Emoluments of the Executive Board in accordance with IFRS

 

 

 

 

 

in EUR

 

2015

 

2014

Short-term cash emoluments

 

8,665,205

 

8,885,935

Long-term cash emoluments

 

2,912,840

 

3,081,804

Total cash emoluments

 

11,578,045

 

11,967,739

Change in value of virtual shares

 

65,644

 

285,411

Cost Long Term Incentive Plan

 

1,122,133

 

4,869,835

Service cost for pension obligation

 

2,105,419

 

1,228,535

Total emoluments (IFRS)

 

14,871,241

 

18,351,520

In the course of 2015 no post-employment benefits arose (2014: EUR 582 thousand).

The remuneration report presents the basic features and structure of the remuneration of the Executive Board. It is presented as part of the combined management report.