AEG 21604 G Bedienungsanleitung PDF herunterladen (Seite 605)

100

101

F-364

The number and weighted average exercise price of share options at 31 December 2008 and 2007 is as follows:

2008

2007

Weighted

average

exercise

price

Number of

options

Number of

options

€

Outstanding at the beginning of the year and at the end of

the year................................................................

.......................

1,773,616

Vesting adjustment................................................................

.....

24,568

–

Forfeited during the period................................

.........................

(3,210)

–

Outstanding and exercisable at 31 December

........................

1,794,974

1,773,616

Share options granted and recognised for the year ended 31 December 2008 amounted to € 8,000 (2007:

€ 77,000) and were recorded as compensation expense in selling, general and administrative expenses.

20 Pension and other post-retirement obligations

In accordance with the laws and customs of each country, the Group provides pension and retirement benefits to

its employees. In France, the Group employees benefit from a retirement indemnity plan. In other countries, the

plans depend upon local legislation, the business and the historical practice of the subsidiary concerned.

Over and above state pension plans, the plans can be defined contribution plans or defined benefit plans. In the

latter case, the plans are wholly or partially funded by assets solely to support such plans.

a) State plans

In certain countries, and more particularly in France and Italy, the Group participates in state plans for which

contributions expensed correspond to the contributions due to the state organisations. State plans are considered

to be defined contribution plans.

b) Defined contribution plans

The benefits paid out depend solely on the amount of contributions paid into the plan and the investment returns

arising from the contributions. The Group's obligation is limited to the amount of contributions that are ex-

pensed.

c) Defined benefit plans

Independent actuaries calculate annually the Group's obligation in respect of these plans, using the projected unit

credit method. Actuarial assumptions comprise mortality, rates of employee turnover, projection of future salary

levels and revaluation of future benefits. Future estimated benefits are discounted using discount rates appropri-

ate to each country. These plans have differing characteristics:

• Perpetual annuity: the retirees benefit from the receipt of a pension during their retirement. These plans

are to be found primarily in Germany and the Netherlands.

• Lump-sum payments on the employee's retirement or departure: these plans are to be found primarily in

France and Italy.

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