8.2 Members of the Management and Supervisory Board

In 2011, the Management Board members were paid the following amounts as compensation for their work:

           

in EUR

 

 

 

 

Benefits

 

 

Management Board

Fixed salary (gross)

Other additional payments*

Bonuses

Insurance premiums**

Other benefits

Reimbursments

 Net pay received  

Matjaž Rakovec

148,458

9,474

14,793

24,851

7,619

5,515

69,792

Igor Stebernak

143,820

9,000

13,949

22,679

7,477

5,031

71,083

Andrej Slapar

143,829

9,000

13,949

23,455

10,404

2,787

66,295

Vladimir Mišo Čeplak (as of 1 January until 30 September 2011)

118,389

9,000

14,712

18,718

3,999

147

58,114

Marica Makoter

0

0

0

0

0

0

0

TOTAL

554,496

36,474

57,403

89,703

29,499

13,480

265,284

* Other additional payments include holiday allowances.
 ** Insurance premiums include premiums for supplementary pension insurance, accident insurance, liability insurance and other types of insurance.

 

Documents

 
 
 

In 2011, members of the Management Board did not receive any payments for their work in subsidiaries. 

As at 31 December 2011, Zavarovalnica Triglav had the following receivables from and liabilities to the Management Board members:

 

 

in EUR

MANAGEMENT BOARD

31 December 2011

31 December 2010

RECEIVABLES

 

 

Matjaž Rakovec

206

150

Igor Stebernak

50

0

Andrej Slapar

37

0

Vladimir Mišo Čeplak

0

0

Marica Makoter

0

0

TOTAL RECEIVABLES FROM THE MANAGEMENT BOARD

293

150

LIABILITIES

 

 

Matjaž Rakovec

12,520

5,548

Igor Stebernak

12,536

5,631

Andrej Slapar

12,017

5,267

Vladimir Mišo Čeplak

7,127

0

Marica Makoter

2,047

0

TOTAL PAYABLES TO THE MANAGEMENT BOARD

46,247

21,622

 
 
 

In 2011, the Supervisory Board members were paid the following amounts as compensation for their work:

 

 

 

 

 

              in EUR

 

Supervisory Board

Compensation

Attendance fee

Reimbursments

Total gross pay

Total net pay

Borut Jamnik

6,356

6,960

0

13,316

10,320

Uroš Slavinec

8,670

6,297

0

14,967

11,600

Anton Ribnikar

8,383

5,244

1,120

14,747

11,429

Igor Mihajlovič

8,613

6,289

0

14,902

11,549

Aljoša Valentinčič

7,177

6,606

319

14,102

11,001

Vladimir Uršič

6,143

4,263

945

11,351

8,797

Boris Gabor

0

3,744

1,547

5,291

4,101

Branko Gorjan

7,177

6,924

1,488

15,589

12,081

Peter Celar

7,177

4,042

344

11,563

8,962

Miran Krštinc

7,579

2,667

138

10,384

8,048

Barbara Nose

1,212

2,564

0

3,776

2,927

Srečko Jadek

0

2,027

0

2,027

1,571

Eva Boštjančič

0

440

0

440

341

Tomaž Kuntarič

0

440

0

440

341

TOTAL

68,487

58,507

5,901

132,895

103,068

 

Documents

 
 
 

Members of Supervisory Board Committees:

  • Appointments and Compensation Committee: Borut Jamnik (till 17 October 2011), Anton Ribnikar (since 17 October 2011), Boris Gabor (till 29 May 2011), Miran Krštinc (since 20 June 2011), Srečko Jadek.
  • Audit Committee: Uroš Slavinec, Anton Ribnikar (till 17 October 2011), Vladimir Uršič (since 17 October 2011), Aljoša Valentinčič, Branko Gorjan, Barbara Nose.
  • Strategic Committee: Borut Jamnik (till 17 October 2011), Anton Ribnikar (since 17 October 2011), Igor Mihajlović, Peter Celar.
  • Nomination Committee (established on 17 October 2011): Uroš Slavinec, Miran Krštinc, Eva Boštjančič, Vanessa Grmek, Tomaž Kuntarič.

As at 31 December 2011 there are no outstanding receivables from members of Supervisory Board and members of Supervisory Board Committees. Liabilities to aforementioned members as at 31 December 2011 are shown in the table below:

 

in EUR

Supervisory Board

Liabilities as at 31 December 2011

Uroš Slavinec

1.556

Anton Ribnikar 2.063

Igor Mihajlovič

1.643

Aljoša Valentinčič

1.263

Vladimir Uršič

1.344

Branko Gorjan

1.344

Peter Celar

1.292

Miran Krštinc

1.643

Barbara Nose

313

Srečko Jadek

170

TOTAL

12.631

 

Documents

 
 
 

Proposed criteria for the assessment of the performance of Management Board Members are prepared by the Appointments and Compensation Committee and approved by the Supervisory Board. The purpose of these criteria is to ensure objective monitoring of existing goals and evaluation of the performance of Management Board Members on a regular basis. The above mentioned criteria are determined in such way so as to follow the
strategy of Zavarovalnica Triglav. The definition of an individual goal includes its description, expected target value, assigned weight and the method of measurement or assessment. According to this method, the Board member is entitled to a bonus when goals are exceeded. On the other hand, a deduction is assumed when the goals are not met.

First half of an annual bonus for business efficiency is paid 30 days after the Supervisory Board approves the annual report and adopts a decision on bonus payments. If the annual report is approved at the Annual General
Meeting, the first half of annual bonus is paid 30 days after the Annual General Meeting. Second half of an annual bonus is paid after 2 years. Bonus is paid in a proportion according to the time spent on a function.

Management Board Members are entitled to severance pay amounting to six of his average monthly salaries received as a board member, if he or she is dismissed for economic reasons. Severance is paid within one month after dismissal.

 
 
 
 
 
 
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