Remuneration for the Supervisory Board
SUPERVISORY BOARD REMUNERATION (BEGINNING FINANCIAL YEAR 2013/2014, AS ADOPTED AT THE ANNUAL MEETING ON 26 MARCH 2013):
The members of the Supervisory Board shall receive a fixed fee of 50,000 euros annualy. The Chairman of the Supervisory Board shall receive 1.75 times and the Vice Chairman 1.25 times this fixed fee. Membership on the Executive Committee shall, in addition to the remuneration based on the aforesaid rates, be remunerated by 0.25 times the fixed fee and the Chairmanship of the Audit Committee by 0.5 times the fixed fee. Irrespective of membership on the various Committees or an office as their Chairman, the Chairman of the Supervisory Board shall receive a maximum of 2.0 times the fixed fee and the Vice Chairman of the Supervisory Board as well as Chairman of the Audit Committee a maximum of 1.5 times the fixed fee.
The remuneration shall be paid at the end of the respective financial year. Members who serve on the Supervisory Board or on the Executive Committee, or act as the Chairman or Vice Chairman on the Supervisory Board or as the Chairman of the Audit Committee for only a part of a financial year shall receive a proportionate part of the remuneration for their time of service.
The Company shall reimburse the members of the Supervisory Board for expenses incurred in exercising their offices, including value-added tax that might be imposed on the remuneration or on reimbursed expenses. The Company may take out D&O insurance on behalf of the Supervisory Board members covering the legal liability in conjunction with their activities on the Supervisory Board.