28 Related parties
The Group has a related party relationship with its subsidiaries and with key management personnel (members of the Board of Directors and the Management Board).
The total compensation paid to the key management personnel was:
CHF 1,000 | 2012 | 2013 |
|---|---|---|
Short-term employee benefits | 4,640 | 3,998 |
Post-employment benefits | 374 | 425 |
Other long-term benefits1 | 16 | – |
Termination benefits | 799 | 230 |
Share-based payment2 | 2,093 | 1,239 |
Total compensation | 7,922 | 5,892 |
1 Settlement of long-term retention bonus
2 See note 10.4 for more details
The Group recognized termination benefits amounting to CHF 0.2 million in 2013 for one member of the Management Board (2012: CHF 0.8 million for one member of the Management Board). They relate to contractually agreed fixed and variable salaries as well as contributions to social security that are payable for the period in which the member was released from work prior to the termination of his employment.
For further details concerning compensation, ownership of shares and options and loans granted, please refer to notes 10 and 11 of the statutory financial statements of Tecan Group Ltd., the ultimate parent company.The information reported in this note and the information provided in the notes of the statu- tory financial statements may differ due to different recognition and valuation principles.