(26) Related Parties

A list of affiliated companies of Wincor Nixdorf AG is included in Note 29. Related parties according to IAS 24 “Related Party Disclosures” are, besides the Board of Directors, essentially the Supervisory Board, investments, and shareholders.

The compensation of the Board of Directors is as follows:

 

 

€k

 

2010/2011

2009/2010

Short-term benefits (without share-based compensation)

3,263

2,543

Share-based compensation

1,930

1,313

Total compensation

5,193

3,856

Post-employment benefits

326

276

Total

5,519

4,132

The disclosure of share-based compensation refers to the fair value at the grant date. Additions to superannuation (current service costs) for current members of the Board of Directors are disclosed as post-employment benefits. With the conversion of the pension scheme from pension payments to a one-time pay-off or payments in several installments, also pension obligations of the Board of Directors were adapted. As of September 30, 2011, the entitlement to funds of the Board of Directors upon reaching the specified age limit (retirement capital) amounts to €2,146k (2009/2010: €1,661k).

The members of the Board of Directors own 332,332 share options from the share-based payment programs 2010 and 2011 as of September 30, 2011 (2009/2010: 268,000 share options from share-based payment programs 2009 and 2010). As of September 30, 2011, the Supervisory Board held no share options (2009/2010: 3,700 share options that were not granted during the period in which its members discharged their Supervisory Board duties).

In fiscal 2010/2011, the members of the Supervisory Board received fringe benefits amounting to €675k (2009/2010: €672k). No long-term benefits are arranged with the members of the Supervisory Board.

For individualized presentation and further details of the Board of Director’s and Supervisory Board’s compensation, please refer to the presentation of the compensation report, which is part of the Group Management Report.

Total compensation paid to former members of the Board of Directors amounted to €115k in fiscal 2010/2011 (2009/2010: €114k). An amount of €1,787k (2009/2010: €1,961k) is accrued for pension obligations benefiting former members of the Board of Directors.

The Group has business relations with the investment companies WINSERVICE AS and CI Tech (since July 1, 2011). Transactions with these related parties result from the delivery and service relations in the ordinary course of business. The volume of business relations is presented in the following table:

 

 

 

 

 

 

 

€k

Net sales

Supplies and services

Receivables

Payables

2010/2011

2009/2010

2010/2011

2009/2010

Sept. 30, 2011

Sept. 30, 2010

Sept. 30, 2011

Sept. 30, 2010

1,512

0

10,736

279

8,183

367

28,140

884

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