Remuneration of the Supervisory Board

The remuneration of the Supervisory Board is determined by the shareholders at the Annual General Meeting and is regulated in Article 13 of the Articles of Association of Vonovia.

The current Supervisory Board remuneration system is based on the resolution passed by the Annual General Meeting on June 9, 2013.

Each member of the Supervisory Board receives annual fixed basic remuneration of € 100,000. The chairman of the Supervisory Board receives double this amount and a deputy chairman receives one-and-a-half times this amount.

The members of the Audit Committee receive additional annual fixed remuneration of € 40,000; the Audit Committee chairman receives double this amount. Supervisory Board members who are members of one or more other Supervisory Board committees that have acted at least once a year receive additional annual remuneration of € 20,000 per committee; in the case of the committee chairman € 40,000.

The sum total of all aforementioned remuneration plus remuneration for membership of Supervisory Boards and comparable supervisory bodies of Group companies must not exceed an amount of € 300,000 per calendar year and Supervisory Board member.

The company reimburses the Supervisory Board members for appropriate expenses incurred due to the exercising of their office. VAT is reimbursed by the company to the extent that the Supervisory Board members are eligible to separately invoice VAT and have exercised such right.

The remuneration of the Supervisory Board of Vonovia breaks down as follows for each member – on a pro rata basis according to the length of service on the Supervisory Board:

 

 

Fixed remuneration

 

Remuneration for committee work

 

Total remuneration

 

 

 

 

 

 

 

 

 

 

 

 

 

in €

 

2014

 

2015

 

2014

 

2015

 

2014

 

2015

(1)

Chairman of the Audit Committee

(2)

Member of the Audit Committee

(3)

Chairman of the Executive and Nomination Committee

(4)

Member of the Executive and Nomination Committee

(5)

Chairman of the Finance Committee

(6)

Member of the Finance Committee

 

 

 

 

 

 

 

 

 

 

 

 

 

Supervisory Board members in office as of December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Dr. Wulf H. Bernotat2 3 6 (since Jun. 18, 2013) Chairman

 

200,000

 

200,000

 

100,000

 

100,000

 

300,000

 

300,000

Prof. Dr. Edgar Ernst1 (since Jun. 18, 2013) Deputy Chairman

 

116,667

 

150,000

 

80,000

 

80,000

 

196,667

 

230,000

Burkhard Ulrich Drescher (since Dec. 12, 2014)

 

8,333

 

100,000

 

 

6,667

 

8,333

 

106,667

Dr. Florian Funck2 (since Aug. 21, 2014)

 

41,667

 

100,000

 

13,333

 

40,000

 

55,000

 

140,000

Dr. Ute Geipel-Faber6 (since Nov. 1, 2015)

 

 

16,667

 

 

3,333

 

 

20,000

Hendrik Jellema2 (since Jun. 2, 2015)

 

 

66,667

 

 

6,666

 

 

73,333

Daniel Just6 (since Jun. 2, 2015)

 

 

66,667

 

 

3,333

 

 

70,000

Hildegard Müller4 (since Jun. 18, 2013)

 

100,000

 

100,000

 

20,000

 

20,000

 

120,000

 

120,000

Prof. Dr. Klaus Rauscher4 (since Aug. 1, 2008)

 

100,000

 

100,000

 

6,667

 

20,000

 

106,667

 

120,000

Clara-Christina Streit4 5 (since Jun. 18, 2013)

 

100,000

 

100,000

 

46,667

 

60,000

 

146,667

 

160,000

Christian Ullbrich2 6 (since Aug. 21, 2014)

 

41,667

 

100,000

 

13,333

 

28,333

 

55,000

 

128,333

Gerhard Zeiler4 (since Jun. 2, 2015)

 

 

66,667

 

 

3,333

 

 

70,000

Former Supervisory Board members

 

 

 

 

 

 

 

 

 

 

 

 

Manuela Better6 (until May 31, 2015)

 

41,667

 

41,667

 

6,667

 

8,333

 

48,333

 

50,000

Fraser Duncan2 (until Aug. 20, 2014)

 

66,667

 

 

26,667

 

 

93,333

 

Total

 

 

 

 

 

 

 

 

 

1,130,000

 

1,588,333

All remuneration is payable after the expiry of each fiscal year. Supervisory Board members who are Supervisory Board members or members of a committee of the Supervisory Board for only part of a fiscal year receive corresponding pro rata remuneration rounded up to the full month.

Furthermore, Vonovia has taken out a liability insurance (D&O insurance) for the members of the Supervisory Board. Vonovia follows the statutory requirements, which provide for a deductible of 10% of any claim up to an amount of one-and-a-half times the fixed annual remuneration for all claims in one fiscal year.