Remuneration

Remuneration of the Board of Executive Directors & Supervisory Board

The remuneration report explains the remuneration system for the Board of Executive Directors. The remuneration of the members of the Board of Executive Directors and the Supervisory Board is disclosed on an individual basis and broken down into its components.

Remuneration of the Board of Executive Directors

Criteria for the appropriateness of the remuneration of the members of the Board of Executive Directors are, in particular, the tasks and performance of the Board of Executive Directors, the comparison with senior executives worldwide and the entire workforce as well as the economic situation, success and future prospects of the Company taking into account its peer group environment. The remuneration of the members of the Board of Executive Directors consists of annual components and components with a long-term incentive effect.

Please refer to the Compensation Report 2019 for details on the compensation of the members of the Board of Executive Directors.

 

Remuneration of the Supervisory Board

The remuneration of the Supervisory Board is governed by Article 12 of the Articles of Association. The members of the Supervisory Board receive an annual fixed remuneration and are also entitled to reimbursement of reasonable expenses necessary for the performance of their duties. The chairmanship and deputy chairmanship of the Supervisory Board as well as the chairmanship and membership of committees are considered separately. Each member of the Supervisory Board receives an attendance fee for attending a meeting of the Supervisory Board or one of its committees to which they belong.

Please refer to the Remuneration Report 2019 for details of the remuneration of the Supervisory Board members.

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