Pay Structure for the Managing Board

The compensation for members of the managing board consists of a base salary and variable compensation. The variable compensation is largely dependent on the attainment of corporate objectives with respect to sales and earnings. A smaller portion of the variable compensation is paid out upon achieving individual targets.

With a view to corporate management over the long term, the supervisory board discussed and approved the underlying conditions for a long-term incentive plan for the managing board and executive officers in the group in its meeting in October 2009. This plan came into effect at the beginning of 2010 and covers a time frame of four years. The incentive plan ensures that the interests of the managing board and the interest of shareholders in the long-term increase of the shareholder value are closely linked.