SOFTWARE AG | ANNUAL REPORT 2012 132 In the event of illness, three members of the Management Board will receive full pay based on the annual target remu- neration for a period of six months. After six months, the variable remuneration component will be reduced by 1/12 for every month that follows. Salary payments will cease at the end of the term of the contract in any event. Any health insurance benefits received by the Board member must be credited against such payments. In case of permanent disability, the employment contract of the Management Board member concerned will terminate at the end of the month in which the permanent disability was determined or at the end of the month in which the Management Board member has been incapacitated for work for an uninterrupted period of twelve months. In such a case, severance pay will be provided for one Management Board For further information on total remuneration of the Man- agement Board, on the remuneration of former members of the Management Board and pension provisions for former members of the Management Board, please refer to the Notes to the Consolidated Financial Statements. Other remuneration components A member of the Management Board who leaves after a change of control within 12 months of such change and without good cause will receive a severance payment equal to three annual salaries based on the most recently agreed annual target remuneration. In case of resignation, the above mentioned regulation is not applicable if the position of the Management Board member has only been altered marginally with the change of control. Summary in € Performance Phantom Shares Total short-term remuneration Total remuneration excluding MIP IV MIP IV from 2012 to 2016 Total Karl-Heinz Streibich (Chief Executive Officer) 1,751,444.15 3,798,311.76 5,549,755.91 221,400.00 5,771,155.91 Dr. Wolfram Jost 443,680.13 798,980.33 1,242,660.46 501,600.00 1,744,260.46 Arnd Zinnhardt 1,468,626.60 2,420,182.99 3,888,809.59 110,700.00 3,999,509.59 Performance phantom shares No. of options Expenses from performance phantom shares* in € Karl-Heinz Streibich (Chief Executive Officer) 55,205 1,592,801.97 Dr. Wolfram Jost 14,732 500,592.87 Arnd Zinnhardt 47,926 1,525,382.49 * The expenses attributable to the fair value at the time of award in the amount of €29.47 (2011: €27.43) per phantom share are included in long-term remuneration components. These expenses were decreased by €1,611 thousand (2011: increased by €428 thousand in hedging expenses) in hedging income.