Remuneration to Key Management Personnel

Remuneration paid to persons who have power and responsibility over the planning, management and control of the Group, including executive and non-executive Directors, is as follows:

(EUR thousand) 2010 2009
Compensation 4,149 6,006
Post-employment benefits - 99
Other long-term benefits - -
Severance pay - -
Stock Grants 597 623
Total 4,746 6,728

Directors’ fees amounted to EUR 4,746 thousand in 2010, EUR 6,728 thousand in 2009.
Statutory Auditors’ fees amounted to EUR 140 thousand in 2010, value remained unchanged from 2009.
These fees include emoluments and any other sum paid as compensation and social security for the office of Director or Statutory Auditor in the Group parent and in the other companies included in the scope of consolidation, that represented a cost for the Group.

The detail of compensation paid to the Directors, Statutory Auditors and General Managers of the Group parent is reported in the following table*:

Person (Euro units) Description of position  
 
 
Name Position Office term Term of office expiring Emoluments by position in the reporting Company for 2010 Non-cash benefits Bonuses and other incentives Other remunerations
Pansa Alessandro Chairman of BoD 21/11/2005 Approval of 2010 Financial Statements 60,000 (1) - - -
Roberti Sante (a) Deputy Chairman of BoD 21/11/2005 Approval of 2010 Financial Statements 40,000 (9) 6,065 50,000 90,357**
Sergio De Luca Chief Executive Officer 14/06/2007 Approval of 2010 Financial Statements 40,000 (2) 97,197 80,000 1,367,830***
Lalli Francesco (b) Director 21/11/2005 Approval of 2010 Financial Statements 55,000 (3) - - -
Salvetti Attilio (c) Director 24/03/2006 Approval of 2010 Financial Statements 55,000 (4) - - -
Cereda Maurizio (e) (d) Director 14/06/2006 Approval of 2010 Financial Statements 75,000 (5) - - -
Genuardi Gerlando (f) Director 27/09/2007 Approval of 2010 Financial Statements 55,000 (6) - - -
Pinto Eugenio (g) (h) Director 01/04/2008 Approval of 2010 Financial Statements 75,000 (7) - - -
Gitti Gregorio (i) Director 01/04/2008 Approval of 2010 Financial Statements 60,000 (8) - - -
Sarubbi Giacinto Chairman of BoSA 01/04/2008 Approval of 2010 Financial Statements 60,000 - - -
Scotton Massimo Statutory Auditor 01/04/2008 Approval of 2010 Financial Statements 40,000 - - -
Tripodi Francesca Statutory Auditor 21/11/2005 Approval of 2010 Financial Statements 40,000 - - -
(*): data extracted from the 2009 Financial Statements of Ansaldo STS SpA. (Euro units) Unitary emoluments per year Chairman of BoD 60,000 Member of BoD 40,000 Chairman of Supervisory Board 20,000 Member of Supervisory Board 15,000 Chairman of Remuneration Committee 20,000 Member of Remuneration Committee 15,000 Chairman of Internal Audit Committee 20,000 Member of Internal Audit Committee 15,000 (a) Deputy Chairman of BoD - appointed 24/02/2006 (1) 12 months Chairman of BoD Remuneration renounced since 1.4.2008 (b) Member of Remuneration Committee - appointed 27/06/2006 (2) 12 months BoD - Remuneration retroceded to Ansaldo STS SpA (c) Member of Internal Audit Committee - appointed 24/03/2006 (3) 12 months BoD + 12 months RC - Remuneration renounced since 1.4.2008 (d) Member of Internal Audit Committee - appointed 27/06/2006 (4) 12 months BoD + 12 months ICC (e) Chairman of Remuneration Committee - appointed 27/06/2006 (5) 12 months BoD and ICC +12 months RC Chairman (f) Member of Remuneration Committee - appointed 01/04/2008 (6) 12 months BoD + 12 months RC (g) Member of Internal Audit Committee - appointed 01/04/2008 (7) 12 months BoD and ICC + 12 months SB Chairman (h) Chairman of Supervisory Board - appointed 01/04/2008 (8) 12 months BoD + 12 months ICC Chairman (i) Chairman of Internal Audit Committee - appointed 01/04/2008 (9) 12 months BoD - Remuneration retroceded to Ansaldo STS SpA up to 31.05.2010 (**): entirely fixed remuneration. Subordinate employment was interrupted on 31 May 2010 (***): of which EUR 445,560 for fixed remuneration for the position of CEO in 2010 FY and EUR 922,270 for variable remuneration paid for the same position in 2009 FY.

The Group Parent, Ansaldo STS SpA, in order to create an incentive and retention system for Group employees and consultants, implemented incentive plans providing for the granting of Ansaldo STS SpA shares, subject to the attainment of specific objectives.

With regard to the “Stock Grant” item, the shares relating to the 2009 objectives were granted in December 2010 since all the targets were achieved; consequently the reserve recognised in the previous financial year was used.
The counter-value of the shares granted to employees participating in the plan was charged by the Group parent to the subsidiaries as an “equity transaction” without affecting the Income Statement. The differentials relating to the fair value (difference between assignment and delivery) and to the percentage of granted shares were recorded in a special equity reserve (please refer to section § 15.14).