The compensation of the Members of the Board of Management consists of basic / fixed and performance-related parts. Included in the basic compensation are fringe benefits as well as contributions to pensions. Members have received a commitment from the Corporation for pension payments beginning at age of 60. These pension rights do not expire and may be passed on to heirs. The premiums for this pension plan are paid by schlott gruppe AG into an external pension fund. Share options or similar constructions are not granted. In addition, D&O insurance without deductible has been established for the Board of Management, the Supervisory Board and Managing Directors. Premiums paid for this insurance cannot be broken down by beneficiary.
For fiscal year 2008/09, the total compensation of the Board of Management amounted to € 1,162.4 thousand and consisted entirely of fixed compensation as well as fringe benefits. No performance-based compensation has been paid. The compensation and other benefits granted to the individual members of the Management Board has been reported in the annual report 2008/9 of schlott gruppe AG.
No Member of the Board of Management has received financial commitments with respect to the termination of their appointments. Moreover, no Member of the Board of Management has received compensation or similar financial commitments from third parties on account of being a Member of the Board of Management. In addition, no financial commitments exist in favor of Members of the Board of Management or employees in the event a takeover offer for the Corporation is received. Furthermore, no agreement exists within schlott gruppe AG which contain a “change-of-control clause” in favor of Members of the Board of Management.
