Temporary deviations from the remuneration system
Pursuant to section 87a, paragraph 2, sentence 2 of the German Stock Corporation Act (AktG), the Supervisory Board may temporarily deviate from the present remuneration system if special and exceptional circumstances exist and if this is necessary in the interest of the long-term well-being of the company.
Such deviations may be necessary, for example, to ensure adequate incentives in the event of a serious corporate or economic crisis. However, unfavourable market developments shall not be considered as special and exceptional circumstances justifying a deviation from the remuneration system. The exceptional circumstances underlying and necessitating a deviation shall be determined by a resolution of the Supervisory Board. The following components of the remuneration system may be deviated from:
- Remuneration structure,
- the financial and non-financial performance targets as well as the
- assessment bases and
- threshold, target and maximum values of the performance-related remuneration.
If the incentive effect of the Executive Board remuneration cannot be adequately restored by adjusting the existing remuneration components, the Supervisory Board may also temporarily grant additional remuneration components or replace individual remuneration components with other remuneration components in the event of extraordinary developments. Even in the event of a deviation from the remuneration system, the remuneration and its structure must continue to be geared towards the long-term and sustainable development of the company and be commensurate with the success of the company and the performance of the Executive Board. Insofar as a temporary deviation from this remuneration system occurs, it is reported in the remuneration report and the underlying circumstances are explained.