Governance  Remuneration policy and report 102 In addition, the Risk Management and Compliance functions,  together with the Human Resources and Finance functions, are  responsible for the execution of the various ex-ante and ex-post  measures that have been introduced by Aegon to ensure the  Global Remuneration Framework and for ensuring practices are  aligned with the defined risk tolerances and behaviors. In this  respect, risk mitigating measures that are undertaken prior to the  payout of compensation to individual employees (regardless of  whether the compensation is deferred) are considered ex-ante  measures. Retribution measures that are applied after payout,  or concerning allocated but deferred payments (before vesting  of these payments) to ensure sustainability of performance, are  considered ex-post measures. Aegon endeavors to seek an appropriate balance of ex-ante and  ex-post assessments to ensure effectiveness in both the short-  and longer-term risk taking behavior of employees. Aegon´s Remuneration Policy with regard to members of its  Supervisory Board is aimed at ensuring fair compensation, and  protecting the independence of the Board´s members. Terms and  conditions for members of the Supervisory Board are part of  Aegon´s broader Remuneration Policy, and are the responsibility  of the company´s Compensation Committee 1 . Given the significant rise in the Supervisory Boards activities in  combination with the results from a peer review amongst  comparable Dutch and European companies, the General Meeting  of Shareholders on May 15, 2013, approved amendments to the  Supervisory Board Remuneration Policy as per January 2013. Members of the Supervisory Board are entitled to the following: Aegon has a pay philosophy which is based on total  compensation. This means that total remuneration for fully  functioning employees is aimed at being consistent with  compensation levels in the market in which it operates and  competes for employees. Total compensation typically consists  of base salaries and, where in line with local market practices,  variable compensation. Market survey information from  reputable sources is used to provide information on competitive  compensation levels and practices. Each of these fees is a fixed amount. Members of Aegon’s  Supervisory Board do not receive any performance or equity- related compensation, and do not accrue pension rights with  the company. These measures are designed to ensure the  independence of Supervisory Board members and strengthen  the overall effectiveness of Aegon’s corporate governance. Variable compensation, if any, is capped at an appropriate level  as a percentage of base pay. Usually variable compensation for  senior management is paid out in cash and shares over multiple  years and is subject to further conditions being fulfilled. Variable  compensation already paid out may be clawed back in defined  circumstances. In the next sections more detailed information is provided  on the compensation practice for the Supervisory Board and  Executive Board. Under the current policy, approved by shareholders on  May 15, 2013, members of the Supervisory Board are entitled  to the following fees: 1 Members of the Compensation Committee are as follows: Leo M. van Wijk (Chair); Irving W. Bailey II; Robert J. Routs. Annual Report 2013 Base fee for membership of the Supevisory Board EUR / year Chairman 80,000 Vice-Chairman 50,000 Member 40,000 Fee for membership of a Supervisory Board committee EUR / year Chairman of the Audit Committee 13,000 Member of the Audit Committee 8,000 Chairman of other committees 10,000 Member of other committees 5,000 General compensation practices Supervisory Board Remuneration Policy 2013 ■ A base fee for membership of the Supervisory Board itself.  No separate attendance fees are paid to members for  attendance at the regular Supervisory Board meetings;  ■ An attendance fee for each extra Board meeting, attended in  person or by video and/or telephone conference; ■ A committee fee for members on each of the Supervisory  Board’s Committees; ■ An attendance fee for each Committee meeting attended in  person or through video and/or telephone conference;  ■ An additional fee for attending meetings that require  intercontinental travel between the Supervisory Board  member's home location and the meeting location.  Fees and entitlements