Remuneration

Remuneration of Board members

Fees and other benefits of Board members

Remuneration for the Board during the financial year 2010-2011 totalled € 12.000,00. In addition, any travel expenses arising from Board work were reimbursed in accordance with the company's travel policy. No other fees or benefits were paid. A separate bonus can be paid by arrangement for special responsibilities.

Payment of Board fees in shares

The company has not paid any Board and Committee fees either in whole or in part in the company's own shares. The company has no share-related incentive scheme for Board members; consequently, no shares or share derivatives were given to Board members on those grounds during the financial year.

Compensation of the Managing Director and other executives

Managing Director

The Managing Director's salary and other benefits in the financial year 2010-2011 totalled € 61.333,00 In the financial year 2010-2011 the Managing Director received no shares or share-related rights by way of compensation.

The Managing Director´s pension and retirement age are determined in accordance with the valid Pension Act. No separate agreement has been made regarding early retirement.

The Managing Director's service contract is valid until further notice. The company can terminate the contract by giving six (6) month's notice and the Managing Director by giving three (3) month's notice.

Chairman of the Board of Directors

The size of the company does not require a full-time Chairman of the Board.