UPDATE 1-Siemens, 6 ex-managers reach deal in bribery case

Wed Dec 2, 2009 7:12am EST

* Siemens, 6 former execs reach deal on corruption case costs

* Ex-Chairman von Pierer to pay 5 mln eur

(Adds details, background)

MUNICH, Dec 2 (Reuters) - Ex-Siemens Chairman Heinrich von Pierer agreed to pay the company 5 million euros ($7.54 million) to partly compensate for costs stemming from one of Germany's biggest-ever corporate bribery scandals, the company said on Wednesday.

Siemens AG (SIEGn.DE) said it also had reached agreements with five other former managers, including ex-Chief Executive Klaus Kleinfeld, who is now CEO of Alcoa (AA.N), on compensation for costs to the conglomerate as a result of corruption cases in Germany and the United States, the company said.

The announcement came a day after sources told Reuters that Siemens had struck a deal with von Pierer. [ID:nGEE5B02GQ]

Siemens had agreed in December to pay more than $1.3 billion to settle corruption probes in the U.S. and Germany, ending two years of controversy that rocked the German engineering conglomerate. [ID:nN15508680]

Von Pierer, Kleinfeld and the four others were not accused of any crimes and have denied any wrongdoing.

A Siemens spokesman said on Wednesday former management board members Uriel Sharef would pay 4 million euros, Juergen Radomski and Johannes Feldmayer would each pay 3 million euros.

Ex-CEO Kleinfeld will pay 2 million euros and Karl Hermann Baumann, like von Pierer a former chairman of the supervisory board, will pay 1 million euros, the spokesman said.

No settlement was reached with former management board members Thomas Ganswindt and Heinz-Joachim Neubuerger, the company said.

Siemens now intends to sue Ganswindt and Neubuerger before the annual general meeting (AGM), which is slated for January, a source at the company told Reuters.

The agreements reached with the executives, which now total nine, will have to be ratified by the shareholders at the AGM. ($1=.6635 EURO) (Reporting by Jens Hack and Marilyn Gerlach; editing by Karen Foster) ((Reuters Messaging: marilyn.gerlach.reuters.com@reuters.net; 00 49 69 7565 1279))

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