Compensation of former EC members

In 2018, certain former EC members received contractual compensation for the period after leaving the EC, as shown in Exhibit 24, footnote (5).

Exhibit 24: EC compensation 2018 (audited)

 

Cash compensation

 

 

Name

Base salary

Short-term variable compen­sation(1)

Pension benefits

Other benefits(2)

2018 Total
cash-based compen­sation(3)

Estimated value of share-based grants under the LTIP in 2018(4)

2018 Total
(incl. conditional share-based grants)(5)

 

CHF

CHF

CHF

CHF

CHF

CHF

CHF

(1)

Represents accrued short-term variable compensation for the year 2018 for all current EC members, which will be paid in 2019, after the publication of ABB’s financial results. Short-term variable compensation is linked to the objectives defined in each EC member’s scorecard. Upon full achievement of these objectives, the short-term variable compensation of the CEO corresponds to 150 percent of his base salary, while for each other EC member it represents 100 percent of their respective base salary.

(2)

Other benefits comprise payments related to social security, health insurance, children’s education, transportation, tax advice and certain other items.

(3)

Prepared on an accruals basis.

(4)

On the day of vesting (April 6, 2021), the value of the share-based awards granted under the LTIP may vary from the above amounts due to changes in ABB’s share price and the outcome of the performance factors. The estimated value of the share-based grants are based on a Monte Carlo simulation and the price of ABB shares on the grant date, adjusted for EPS factor for the expected foregone dividends during the vesting period.

(5)

Payments totaling CHF 23,558 were made in 2018 on behalf of certain other former EC members.

(6)

Frank Duggan received 20 percent of his base salary in AED and 80 percent in EUR. The company purchased EUR with AED to meet this obligation. All AED amounts were converted into Swiss francs using a rate of CHF 0.2678411 per AED.

(7)

Greg Scheu received 100 percent of his base salary in USD. All USD amounts were converted into Swiss francs using a rate of CHF 0.9837 per USD.

(8)

Chunyuan Gu received 100 percent of his base salary in CNY. All CNY amounts were converted into Swiss francs using a rate of CHF 0.1430712 per CNY.

Ulrich Spiesshofer

1,685,010

2,082,660

631,775

989,918

5,389,363

3,153,750

8,543,113

Timo Ihamuotila

920,012

810,520

487,435

502,703

2,720,670

819,965

3,540,635

Jean-Christophe Deslarzes

940,007

908,980

506,036

718,111

3,073,134

1,005,365

4,078,499

Diane de Saint Victor

1,000,001

1,024,000

295,325

266,153

2,585,479

891,283

3,476,762

Frank Duggan(6)

697,573

643,163

354,222

569,854

2,264,812

699,649

2,964,461

Greg Scheu(7)

806,634

713,065

291,077

118,426

1,929,202

559,393

2,488,595

Chunyuan Gu(8)

715,357

688,888

263,125

499,338

2,166,708

748,669

2,915,377

Sami Atiya

720,008

576,720

441,235

427,729

2,165,692

513,368

2,679,060

Tarak Mehta

860,004

540,940

472,097

566,773

2,439,814

766,494

3,206,308

Claudio Facchin

810,006

423,630

462,386

463,666

2,159,688

577,548

2,737,236

Peter Terwiesch

770,006

726,110

446,435

377,080

2,319,631

823,534

3,143,165

Total Executive Committee members

9,924,618

9,138,676

4,651,148

5,499,751

29,214,193

10,559,018

39,773,211