Payments to Management and Supervisory Board Members

On the basis of employment contracts concluded in 2008, the earnings of members of the Management Board are comprised of a fixed and a variable part. For the period from 1 November 2009 to 31 October 2010, all members of the Management Board signed annexes to their employment contracts, in which their salaries were reduced on average by 25 percent. The salary of the President of the Management Board was reduced by 35 percent with respect to the provisions of his employment contract. On 1 January 2011, all members of the Management Board signed new annexes to their employment contracts in which their salaries were set at the amounts specified in the first annex. Given the considerable reduction, the existing salaries are laid down by the annex in fixed form.

The Company has not adopted a stock option remuneration plan. For their work, the members of the Supervisory board are entitled to meeting attendance fees and the reimbursement of expenses for meeting attendance. So far, the General Meeting of Shareholders has not yet decided on additional payments to members of the Supervisory Board. Should the General Meeting adopt a resolution on additional payment for holding the office of member of the Supervisory Board, the costs thereof would be charged against the current operations of the Company.