10.8. Quantitative information on the remuneration of the Identified Staff

Below is a breakdown by area of activity of the total remuneration of the Identified Staff for 2013, and that will be paid according to the settlement and payment scheme established in section 10.3.2 c. Payment will be complete in 2017, subject to the aforementioned “malus clauses”:

The following table gives aggregate information on the remuneration of the Identified Staff in 2013, broken down by type of employees and executive managers:

Table 48. Remuneration of the Identified Staff in 2013 (I)

(Thousand of euros)

Remuneration for Identified Staff	Total Remuneration 2013
Investment Banking (1)	30,423
Commercial Banking (2)	34,673
Other (3)	24,020
Total for the Identified Staff	89,115

(1) It includes wholesale and investment banking activities. (2) It includes retail and commercial banking and insurance activities. (3) Other activities, plus members of the Management Committee and Asset Management.

Table 49. Remuneration of the Identified Staff in 2013 (II)

(Thousand of euros)

Remuneration of the Identified Staff in 2013 (1)	Executive directors	Other senior executives	Rest of Identified Staff	Total for Identified Staff
Total fixed remuneration paid in 2013 (2)	4,551	10,117	49,956	64,624
Total variable remuneration paid in 2013 (3)	4,156	7,635	25,906	37,697
In cash	1,809	3,396	12,242	17,447
In shares or related instruments	2,347	4,239	13,664	20,250
In other instruments	0	0	0	0
Outstanding deferred variable remuneration (4)	5,543	9,996	25,008	40,547
Consolidated	0	0	0	0
Not consolidated	5,543	9,996	25,008	40,547
In cash	2,354	4,359	11,613	18,326
In shares or related instruments	3,190	5,637	13,395	22,221
In other instruments	0	0	0	0
Deferred remuneration granted and/or paid in 2013 (5)	1,629	2,761	6,288	10,678
Amount of explicit ex post performance adjustment applied in the year on remuneration paid in previous years	0	0	0	0
Number of beneficiaries	3	13	142	158
Number of employees receiving severance pay	0	0	6	6
Total severance pay paid in the year	0	0	8,490	8,490
Securitized positions	0	0	0	0

(1) Includes all employees who have occupied positions defined as among the Identified Staff for more than 6 months in 2013. (2) Gross annual fixed remuneration as of December 31, 2013. (3) It includes the variable remuneration paid in 2013, both the part corresponding to 2012 and the deferred part for previous years (1 third of deferred 2011 RVA and 1 third of deferred 2010-2011 ILP). (4) It includes the deferred variable remuneration for previous years pending payment in 2013 (2 thirds of deferred 2011 RVA, 2 thirds of deferred 2010-2011 ILP and deferred percentage of 2012 RVA). (5) It includes the deferred variable remuneration for previous years and paid in 2013 (1 third of deferred 2011 RVA and 1 third of deferred 2010-2011 ILP).

At the close of 2013, the annual variable remuneration of the members of the Identified Staff for that year was determined.

According to the settlement and payment scheme established for the Identified Staff, a percentage of the 2013 variable remuneration was paid in 2014 (50% for executive directors and members of the Management Committee and 60% in all other cases). The rest has been deferred, to be paid out in thirds in 2015, 2016 and 2017.

This results in the following amounts:

Table 50. Remuneration of the Identified Staff in 2013 (III)

(Thousand of euros)

Remuneration for the Identified Staff corresponding to 2013 (1)	Executive directors	Other senior executives	Rest of Identified Staff	Total for Identified Staff
Amount of variable remuneration corresponding to 2013 received in 2014	2,680	5,941	23,719	32,340
In cash	1,340	2,971	11,819	16,129
In shares or related instruments	1,340	2,971	11,900	16,211
In other instruments	0	0	0	0
Amount of variable remuneration corresponding to 2013 that has been deferred (2)	2,680	5,941	15,870	24,491
In cash	1,340	2,971	7,915	12,225
In shares or related instruments	1,340	2,971	7,955	12,266
In other instruments	0	0	0	0

(1) Includes all employees who have occupied positions defined as among the Identified Staff for more than 6 months in 2013. (2) It includes the amount corresponding to the deferred percentage of 2013 RVA.

The new hires in Identified Staff include the executive director José Manuel González-Páramo, whose remuneration is detailed in the Report on the Remuneration of BBVA Directors.