05.12.2011
The declaration of the Management Board and the Supervisory Board regarding the recommendations of the "Government Commission on the German Corporate Governance Code" in the version of 26 May 2010 in accordance with Section 161 of the German Stock Corporation Act (AktG) as of 30 November 2011 is amended as follows:
According to Clause 4.2.3 Sentence 3 of the German Corporate Governance Code, the monetary compensation elements of the remuneration of members of the Management Board shall comprise fixed and variable elements. It is unclear whether this recommendation shall also apply for members of the Supervisory Board that are appointed to the Management Board according to Sec. 105 (2) of the German Stock Corporation Act (AktG). As a matter of precaution, the Management Board and the Supervisory Board hereby declare that the member of the Supervisory Board, Mr. Axel Arendt, appointed to the Management Board according to Sec. 105 (2) of the German Stock Corporation Act (AktG) with effect from 5 December 2011 for a period not beyond 30 November 2012 receives a fixed salary without any variable elements for his services as a member of the Management Board. With regard to the shortness of the duration of his delegation, a variable compensation element, which according to Clause 4.2.3 Sentence 4 of the German Corporate Governance Code would in general have to be based on a multi-year assessment, would not be appropriate.
Düsseldorf, 05 December 2011
The Management Board The Supervisory Board