Compensation of Executive Committee




in Swiss francs
Gilles Andrier
CEO
Executive
Committee
members
(excl. CEO) a
Total
remuneration
2010
Total
remuneration
2009
Base salary 905,441 2,348,908 3,254,349 3,278,700
Annual incentive b 402,687 941,381 1,344,068 1,743,908
Total cash 1,308,128 3,290,289 4,598,417 5,022,608
Pension benefits c 127,580 376,009 503,589 732,260
Other benefits d 176,839 537,070 713,909 739,858
Number of options granted e 60,000 160,000 220,000 220,000
Value at grant f 909,600 2,425,600 3,335,200 3,295,600
Number of RSUs granted g 400 400 526
Value at grant h 322,480 322,480 312,970
Number of performance shares granted i 3,000 6,900 9,900 9,900
Annualised value at grant j 533,580 1,227,234 1,760,814 1,760,814
Total remuneration 3,055,727 8,178,682 11,234,409 11,864,110

a) Represents full year compensation of five Executive Committee members.

b) Annual incentive paid in March 2010 based on year 2009 performance.

c) Company contributions to broad-based pension and retirement savings plans and annualised expense accrued for supplementary executive retirement benefit.

d) Represents annualised value of health & welfare plans, international assignment benefits and other benefits in kind. Contributions to compulsory social security schemes are excluded.

e) Options vest on 2 March 2012.

f) Economic value at grant based on a Black & Scholes model, with no discount applied for the vesting period.

g) Restricted share units vest on 1 March 2013.

h) Economic value at grant according to IFRS methodology, with no discount applied for the vesting period.

i) Performance shares are granted in March 2008 for the 5 year period 2008-2012 and vest on 1 March 2013.

j) Annualised value at grant calculated according to IFRS methodology, and assuming 100% achievement of performance target.

Highest total compensation

CEO Gilles Andrier was the Executive Committee member with the highest total compensation in 2010. For compensation details, please refer to the above table as well as the complete disclosure of compensation to Board of Directors and Executive Committee members set out in the 'Related Parties' section of the 2010 Financial Report.

Other compensation, fees and loans to members or former members of the Executive Committee

No other compensation or fees were accrued for or paid to any member or former member of the Executive Committee during the reporting period.

No member or former member of the Executive Committee had any loan outstanding as of 31 December 2010.

Special compensation of members of the Executive Committee who left the Company during the reporting period

No such compensation was incurred during the reporting period.

Contractual termination clauses of Executive Committee members

Employment contracts of Executive Committee members provide for a maximum indemnity equivalent to twelve months’ total remuneration for termination of employment by the Company. No additional compensation or benefits are provided in the case of change in control, except for the immediate vesting of share options granted by the Company.

All contractual arrangements of Executive Committee members are approved by the Compensation Committee of the Board of Director.