45. Compensation, shareholdings and loans
Total compensation granted directly or indirectly by Kudelski SA or by one of its affiliated companies during 2008 and 2007 to the members of the Board of Directors, members of the Group management and former board members are as follow:
| Base compensation Cash CHF | Variable compensation in Cash CHF | Variable compensation in Kudelski Shares (number) | Variable compensation in OpenTV Corp shares (number) | Variable compensation in OpenTV Corp options (number) | Other CHF | Total2008 CHF | |
|---|---|---|---|---|---|---|---|
| Board of Directors | |||||||
| Kudelski André, chairman | 498 400 | - | - | 50 000 | - | - | 549 600 |
| Smadja Claude, vice chairman | 201 155 | - | - | - | 10 000 | - | 216 977 |
| Bucher Norbert, member | 60 000 | - | - | - | - | - | 60 000 |
| Dassault Laurent, member | 40 000 | - | - | - | - | - | 40 000 |
| Foetisch Patrick, member | 50 000 | - | - | - | - | 173 653 | 223 653 |
| Lescure Pierre, member | 60 000 | - | - | - | - | - | 60 000 |
| Kudelski Marguerite, member | 50 000 | - | - | - | - | - | 50 000 |
| Zeller Alexandre, member | 40 000 | - | - | - | - | - | 40 000 |
| Total board members | 999 555 | - | - | 50 000 | 10 000 | 173 653 | 1 240 230 |
| Management | |||||||
| Kudelski André, CEO | 529 000 | 1 860 000 | 250 000 | - | - | 25 734 | 3 806 734 |
| Other management members | 3 398 617 | 1 299 231 | 171 816 | - | 30 000 | 109 500 | 5 915 217 |
| Total Management | 3 927 617 | 3 159 231 | 421 816 | - | 30 000 | 135 234 | 9 721 951 |
| Former board members | |||||||
| Kudelski Stefan, founder and "Président d'honneur" | 205 020 | - | - | - | - | - | 205 020 |
| Base compensation Cash CHF | Variable compensation in Cash CHF | Variable compensation in Kudelski Shares (number) | Variable compensation in OpenTV Corp shares (number) | Variable compensation in OpenTV Corp options (number) | Other CHF | Total2007 CHF | |
|---|---|---|---|---|---|---|---|
| Board of Directors | |||||||
| Kudelski André, chairman | 505 600 | - | - | 50 000 | - | - | 559 671 |
| Smadja Claude, vice chairman | 206 840 | - | - | - | 10 000 | - | 223 549 |
| Bucher Norbert, member | 60 000 | - | - | - | - | - | 60 000 |
| Dassault Laurent, member | 40 000 | - | - | - | - | - | 40 000 |
| Foetisch Patrick, member | 60 000 | - | - | - | - | - | 60 000 |
| Lescure Pierre, member | 60 000 | - | - | - | - | - | 60 000 |
| Kudelski Marguerite, member | 50 000 | - | - | - | - | - | 50 000 |
| Zeller Alexandre, member | 40 000 | - | - | - | - | - | 40 000 |
| Total board members | 1 022 440 | - | - | 50 000 | 10 000 | - | 1 093 220 |
| Management | |||||||
| Kudelski André, CEO | 514 125 | 3 280 000 | 115 000 | - | - | 25 734 | 4 917 879 |
| Other management members | 2 938 855 | 1 000 317 | 76 512 | - | 20 000 | 110 979 | 5 083 879 |
| Total Management | 3 452 980 | 4 280 317 | 191 512 | - | 20 000 | 136 713 | 10 001 758 |
| Former board members | |||||||
| Kudelski Stefan, founder and "Président d'honneur" | 205 020 | - | - | - | - | - | 205 020 |
Shares allotments are measured according to IFRS taking into consideration a discount factor for blocking periods. 331 444 (2007: 130 562) bearer shares granted to certain management members include a 7 year blocking period and 78 569 (2007: 39 720) bearer shares are subject to a 3 year blocking period. Variable compensation in cash and granted in Kudelski bearer shares, were granted based on the Remuneration Committee's assessment of the achievement of the objectives, but were neither paid nor issued as of December 31, 2008 and 2007. They were nevertheless fully accrued while establishing the financial statements.
Compensation does not include reimbursement for business expenses incurred in the performance of their service as well as representation allowances as these are not considered compensation.
At December 31, 2008 and 2007, no guarantees, loans, advances or borrowings in favor of members of the Board of Directors and members of the management or parties closely related to such persons were granted.
As of December 31, 2008, the members of the Board of Directors and members of the management had following interest within the company (without including shares from 2008 variable compensation - issued in 2009):
| 31 December 2008 | ||||
| Registered shares | Bearer shares | Options | Convertible bond | |
| Board of Directors | ||||
| Kudelski André, chairman (family pool) | 46 300 000 | 7 424 113 | 19 195 | - |
| Smadja Claude, vice chairman | - | 1 300 | 1 000 | - |
| Bucher Norbert, member | - | 1 700 | 1 000 | - |
| Dassault Laurent, member | - | 1 141 050 | 1 000 | - |
| Foetisch Patrick, member | - | 1 000 | 1 000 | - |
| Lescure Pierre, member | - | 2 000 | 1 000 | - |
| Kudelski Marguerite, member | - | 3 005 112 | - | - |
| Zeller Alexandre, member | - | 7 200 | - | - |
| Total board members | 46 300 000 | 11 583 475 | 24 195 | - |
| Management | ||||
| Kudelski André, CEO | see above | see above | see above | see above |
| Saladini Mauro, CFO | - | 62 806 | 6 165 | 125 000 |
| Roy Pierre, COO | - | 18 741 | 4 785 | - |
| Egli Charles, CEO Public Access | - | 32 807 | 4 234 | - |
| Gani Lucien, General Counsel | - | 10 490 | - | - |
| Osadzinski Alex, EVP Product | - | - | - | - |
| Pitton Yves, SVP Business Development | - | 1 840 | 200 | - |
| Goetschmann Nicolas, Corporate Secretary | - | 6 593 | 4 474 | - |
| Burke John, SVP head of Human Resources | - | 8 739 | 520 | - |
| Total Management | - | 142 016 | 20 378 | 125 000 |
And for 2007:
| 31 December 2007 | |||
| Registered shares | Bearer shares | Options | |
| Board of Directors | |||
| Kudelski André, chairman (family pool) | 46 300 000 | 6 753 147 | 19 000 |
| Smadja Claude, vice chairman | - | 1 300 | 2 000 |
| Bucher Norbert, member | - | 1 700 | 2 000 |
| Dassault Laurent, member | - | 1 195 050 | 1 000 |
| Foetisch Patrick, member | - | 1 000 | 1 000 |
| Lescure Pierre, member | - | 2 000 | 2 000 |
| Kudelski Marguerite, member | - | 3 000 342 | - |
| Zeller Alexandre, member | - | - | - |
| Total board members | 46 300 000 | 10 954 539 | 27 000 |
| Management | |||
| Kudelski André, CEO | see above | see above | see above |
| Saladini Mauro, CFO | - | 18 364 | 5 405 |
| Roy Pierre, COO | - | 9 109 | 6 785 |
| Egli Charles, CEO Public Access | - | 11 894 | 4 234 |
| Gani Lucien, General Counsel | - | 3 770 | - |
| Corboud Adrienne, EVP Business Development | - | 3 254 | 3 334 |
| Goetschmann Nicolas, Corporate Secretary | - | 4 189 | 4 234 |
| Burke John, SVP head of Human Resources | - | 1 596 | - |
| Total Management | - | 52 176 | 23 992 |
At December 31, 2008 and 2007, Marguerite Kudelski together with another family member as well as their respective descendants are the beneficial owners, through a common investment structure, of 3 000 000 Kudelski SA bearer shares, which represent 3.2% of the company's voting rights.