Remuneration of the Supervisory Board

The fixed remuneration paid to individual Supervisory Board members is €85,000, in accordance with the Articles of Association. In addition, Supervisory Board members are reimbursed for cash expenses. The Chairman of the Supervisory Board receives two-and-a-half-times the amount, while his deputy, as laid out in § 12 (1) sentence 1 of the Articles of Association receives one-and-a-half times this amount. Members of the Presiding, Audit, Personnel and Finance Committees also receive additional compensation for their work in these committees. If a member of the Supervisory Board simultaneously holds several offices for which increased remuneration is granted, he or she shall only receive the remuneration for the highest-paying office. More detailed information on the remuneration of our Supervisory Board members are published in the notes to the consolidated financial statements in the Annual Report.

In the current Annual Report we also published the individual remuneration of the Supervisory Board members, as recommended by the German Corporate Governance Code. The publication is made in the remuneration report as part of the Annual Report.

The remuneration of the Supervisory Board was laid down newly in § 15 of the Articles of Association with effect from July 1, 2018 by way of a resolution by the Annual General Meeting on April 25, 2018 with the recommendations of the German Corporate Governance Code being taken into account.

The provision of the Articles of Association reads as follows:

(1) Each member of the Supervisory Board shall receive remuneration of €85,000 for each full fiscal year. The Chairman of the Supervisory Board shall receive two-and-a-half times that amount and his deputy, as laid out in § 12 (1) sentence 1 of the Articles of Association, shall receive one-and-a-half times the amount.

(2) Furthermore, members of Supervisory Board committees shall receive remuneration of €20,000 for each full fiscal year; the members of the Audit Committee shall receive twice this amount. The chair of a committee shall receive two-and-a-half times the remuneration of a committee member. Members and chair of the committee formed in accordance with § 27 (3) Mitbestimmungsgesetz (German Co-determination Act, MitbestG) or the Nomination Committee shall not receive separate remuneration.

(3) If a member of the Supervisory Board simultaneously holds several offices within the meaning of the paragraphs above, he or she shall only receive the remuneration for the highest-paying office.

(4) Members of the Supervisory Board receive an attendance fee in the amount of €1,000 for participation at a Supervisory Board meeting. The same applies in the case of committee meetings. Participating in a meeting also encompasses participation in a meeting held by telephone or video conference and meeting participation via telephone or video conference.

(5) Members of the Supervisory Board who have only served on the Supervisory Board or a committee for part of a fiscal year shall receive remuneration in proportion to the time served. Furthermore, members of the Supervisory Board shall be reimbursed for any appropriate expenses incurred when performing their duties, as well as the value added tax payable on their remuneration and expenses insofar as the Company is entitled to deduction of input tax.