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4. Personnel costs

EUR 1,000 Group
2013		 Group
2012		 Parent company
2013		 Parent company
2012
Wages, salaries and fees 17,405 17,908 2,928 3,309
Pension costs 3,037 3,603 347 666
Other employer contributions 787 889 112 175
Total 21,229 22,400 3,387 4,150

Salaries and remunerations

Board of Directors and auditors

The Annual General Meeting decides on the remuneration of the Board of Directors and the auditor. The AGM held on 22/03/2013 decided on remuneration of EUR 20,000.00 for the Chairman of the Board of Directors, EUR 11,000.00 for the Deputy Chairman and EUR 8,000.00 for each Board member. In addition, the AGM decided that a fee of EUR 600.00 per meeting be paid to the Chairman and members of the Board, and to the chairmen and members of the Committees. It has been decided that the fee for the auditors will be paid in accordance with the invoice.
The fees paid to the members of the Board of Directors and the Committees were as follows:
EUR 1,000 Group
2013		 Group
2012		 Parent company
2013		 Parent company
2012
Members of the Board of Directors 116 117 116 117
Committee members 11 12 11 12
The members of the Board of Directors have not received any shares or share-based rights during the financial year.

CEO and Management Group

The company’s Board of Directors decides on the pay of the CEO and members of the Management Group, and on the principles and disbursement of their performance bonuses. Group employees do not receive additional compensation for serving as Board members or the CEO of a Group company.

The salaries and fees of the CEO and Deputy CEOs, including benefits in kind, came to EUR 648,325.04 (440,865.52). The Deputy CEO was replaced on 1 September 2013.

The retirement age for the members of the Management Group is 63 years. 'Old' Management Group members are entitled to a benefit-based pension amounting to 60% of pensionable earnings. New members of the Management Group are covered by a contribution-based system, where an insurance premium corresponding to two months' taxable income is paid annually into a group pension insurance plan.

The period of notice for terminating the CEO’s employment relationship is six months. If the company dismisses the CEO before retirement age, the CEO is entitled to severance pay equal to six months' total pay, in addition to pay for the period of notice.

Members of the Management Group are included in the annual bonus system, which is based on a balanced score card. Since 2010, they have also been included in a long-term incentive plan. The incentive plan is based on the Group’s performance and is divided into three-year periods. The first period ends in 2013.