155Combined Group Management Report Consolidated Financial Statements Corporate Governance Report Supervisory Board and Board of Management Tables and Explanations following expenses in accordance with IFRS 2 were recorded for the 2009 financial year: Dr. Bernotat 0.9 million, Dr.Teyssen 0.7 million, Mr. Dänzer-Vanotti 0.6 million, Mr. Feldmann 0.6 million, and Dr. Schenck 0.6 million. Additional detailed information about E.ON AG's stock-based compensation program can be found in Note 11 to the Con- solidated Financial Statements. No loans were outstanding or granted to members of the Board of Management in 2009 financial year. Page 167 contains additional information about the members of the Board of Management. Payments Made to Former Members of the Board of Management Total payments made to former Board of Management mem- bers and to their beneficiaries amounted to 9.9 million in 2009 (2008: 7.6 million). Provisions of 109.1 million (2008: 110.4 million) have been provided for pension obligations to former Board of Manage- ment members and their beneficiaries. The remaining other compensation of the members of the Board of Management consists primarily of benefits in kind from the personal use of company cars and reimbursement for relocation costs. The performance rights granted in 2009 as the fourth tranche of the E.ON Share Performance Plan were quoted at their fair value of 21.71 per right on the date of their issuance and were included in Board of Management members' total compensation. This fair value is determined by means of a recognized option-pricing model (a Monte Carlo simulation based on a two-dimensional Black-Scholes model). For purposes of internal communications between the Board of Management and the Supervisory Board, the target value is used instead of the fair value. The target value is equal to the cash payout amount of each performance right if at the end of the vesting period E.ON stock maintains its price and its performance equals the performance of the benchmark index. In 2009, the target value of the rights issued was 1.35 million for the Chairman of Board of Management, 1.075 million for the Vice Chairman of Board of Management, and 0.8 million for regular Board of Management members. The German Commercial Code (Section 314, Paragraph 1, Item 6a, Sentence 9) requires supplemental disclosure, by year, of the Company's expenses for all tranches granted in 2009 and in previous years and for tranches existing in 2009. The