Compensation Supervisory Board

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Remuneration

Total remuneration of the Supervisory Board

Remuneration of the members of the Supervisory Board in 2017

In the year under review, each member of the Supervisory Board received fixed annual remuneration of €90,000. The Chairman of the Supervisory Board received annual remuneration of €180,000, and the Deputy Chairman received annual remuneration of €135,000.

Members of the Audit Committee each received an additional €45,000; members of the Standing Committee each received an extra €13,500; and members of the Personnel Committee each received an additional €27,000.

The chairs of these committees receive double the amounts stated for members. No additional remuneration is paid for serving on the Nomination Committee or the Conference Committee.

Members of the Supervisory Board receive a daily attendance fee of €1,000 for meetings of the Supervisory Board and its committees – with the exception of the Conference Committee.

Remuneration of the members of the Supervisory Board in 2018

The proposed remuneration for serving on the Remuneration Committee, which was set up with effect from 1 January 2018, will be submitted to the 2018 Annual General Meeting for a resolution. According to this proposal, its members are to receive an extra €27,000 for their work on this committee. For members of the Supervisory Board that are on the Remuneration Committee and the Personnel Committee, the fees for serving on the Personnel Committee also cover their membership on the Remuneration Committee.

No further change to the remuneration of the members of the Supervisory Board is envisaged for 2018.

Remuneration of the members of the Supervisory Board from 2019

A proposal to increase the remuneration for members of the Supervisory Board with effect from 1 January 2019, which has remained unchanged since 2014, will be submitted to the 2018 Annual General Meeting. Additional legal requirements have an immediate impact on the requirement profiles and specific activities of the members of the Supervisory Board. Examples comprise the EU regulation on statutory audits which came into force in 2016, the German Audit Reform Act, the EU market abuse regulation and the Corporate Social Responsibility Directive Implementation Act which came into force in 2017. Moreover, these extended obligations of the Supervisory Board members will result in increased liability risks. To take account of the increased requirements, in particular of the Chairman of the Supervisory Board and the members of the Audit Committee, the remuneration of the Chairman of the Supervisory Board and the members of the Audit Committee is to be raised.

As a result, the annual remuneration for members of the Supervisory Board is to be increased from €90,000 to €100,000. The Chairman of the Supervisory Board is to receive annual remuneration of €220,000 in future, and the Deputy Chairman is to be paid €150,000. The members of the Audit Committee are to receive an additional €55,000, and the members of the Standing Committee are to be paid an additional €15,000. The members of the Personnel Committee and the Remuneration Committee are to receive an additional €30,000. For members of the Supervisory Board serving on both committees, the compensation for serving on the Personnel Committee also covers their membership on the Remuneration Committee. The chairs of these committees are to continue to receive double the amounts stated for members. As previously the case, no remuneration is to be paid for serving on the Nomination Committee or the Conference Committee. If there are several meetings on the same day, the attendance fee of €1,000 per meeting will continue to be paid only once. The remuneration of members of the Supervisory Board will continue to exclude variable remuneration components and pension benefits.

Once these adjustments have been made, the remuneration of the members of the Supervisory Board will be at the same level as that of comparable DAX 30 companies.

Remuneration of the Supervisory Board members1

1 Plus value-added tax (USt) in each case, in accordance with the relevant Articles of Association.
2 The previous year’s figures do not include the remuneration of members who left the Supervisory Board in the 2016 financial year.

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