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44. Related party transactions

44.3 Key management compensation

44.3 Key management compensation

Key management compensation as disclosed below comprises compensation recognized in the income statement for members of the Board of Directors  and the Executive Committee , for the portion of the year where they exercised their mandate.

€ million

2020

2019

Short-term employee benefits

18

18

Termination benefits

7

2

Post-employment benefits

3

4

Share-based payments

8

11

Total key management compensation

36

35

Short-term employee benefits include salaries (including social security contributions), bonuses earned during the year, car leasing and other allowances where applicable. Share-based compensation includes the amortization over the vesting period of the fair value of equity instruments granted, and comprises share options, share awards and performance shares further explained in Note 28 . The termination benefits contain all compensated amounts, including benefits in kind and deferred compensation. There have been no loans granted by the Company or a subsidiary of the Group to any Director or officer of the Group, nor any guarantees given with respect hereto.