47 Remuneration

Remuneration of the Supervisory Board

The members of the Supervisory Board received total remuneration of € 1.8 million during the 2016 fiscal year (2015: € 1.6 million) for their work.

Total Remuneration of the Management Board

The total remuneration paid to the individual members of the Management Board comprises the following:

 

 

Rolf Buch,
CEO

 

Thomas Zinnöcker,
CRO
April 1, 2015 until January 31, 2016

 

Klaus Freiberg,
COO

 

 

 

 

 

 

 

 

 

 

 

 

 

Total remuneration of the Management Board in €

 

2015

 

2016

 

2015

 

2016

 

2015

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed remuneration

 

900,000

 

1,000,000

 

600,000

 

66,667

 

550,000

 

600,000

Cash remuneration/deferred compensation

 

180,000

 

225,000

 

112,500

 

12,500

 

110,000

 

160,000

Fringe benefits

 

38,702

 

39,446

 

19,713

 

2,369

 

22,813

 

27,627

Total

 

1,118,702

 

1,264,446

 

732,213

 

81,536

 

682,813

 

787,627

Annual variable remuneration (bonus)

 

693,000

 

700,000

 

1,284,600

 

50,000

 

434,808

 

440,000

Multi-year variable remuneration (LTIP “Plan”):

 

 

 

 

 

 

 

 

 

 

 

 

2015–2017

 

 

 

 

 

419,790

 

2015–2018

 

1,263,136

 

 

907,879

 

 

421,045

 

2016–2018

 

 

 

 

 

 

212,035

2016–2019

 

 

1,429,217

 

 

101,481

 

 

635,201

Total

 

1,956,136

 

2,129,217

 

2,192,479

 

151,481

 

1,275,643

 

1,287,236

Total remuneration

 

3,074,838

 

3,393,663

 

2,924,692

 

233,017

 

1,958,456

 

2,074,863

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dr. A. Stefan Kirsten,
CFO

 

Gerald Klinck,
CCO
since April 1, 2015

 

Total remuneration

 

 

 

 

 

 

 

 

 

 

 

 

 

Total remuneration of the Management Board in €

 

2015

 

2016

 

2015

 

2016

 

2015

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed remuneration

 

550,000

 

600,000

 

412,500

 

600,000

 

3,012,500

 

2,866,667

Cash remuneration/deferred compensation

 

109,600

 

160,000

 

82,500

 

160,000

 

594,600

 

717,500

Fringe benefits

 

36,665

 

31,571

 

15,300

 

25,865

 

133,193

 

126,878

Total

 

696,265

 

791,571

 

510,300

 

785,865

 

3,740,293

 

3,711,045

Annual variable remuneration (bonus)

 

434,500

 

440,000

 

330,000

 

440,000

 

3,176,908

 

2,070,000

Multi-year variable remuneration (LTIP “Plan”):

 

 

 

 

 

 

 

 

 

 

 

 

2015–2017

 

419,790

 

 

314,842

 

 

1,154,422

 

2015–2018

 

421,045

 

 

315,784

 

 

3,328,889

 

2016–2018

 

 

212,035

 

 

212,035

 

 

636,105

2016–2019

 

 

635,201

 

 

635,201

 

 

3,436,301

Total

 

1,275,335

 

1,287,236

 

960,626

 

1,287,236

 

7,660,219

 

6,142,406

Total remuneration

 

1,971,600

 

2,078,807

 

1,470,926

 

2,073,101

 

11,400,512

 

9,853,451

The Management Board members do not receive any additional remuneration for positions held at Group companies.

Pension Obligations to Members of the Management Board

Rolf Buch, Dr. A. Stefan Kirsten and Gerald Klinck are paying their contractual share of € 225,000 (Rolf Buch), € 160,000 (Dr. A. Stefan Kirsten) and (Gerald Klinck) respectively, based on their fixed remuneration, into the deferred compensation scheme. Klaus Freiberg and Thomas Zinnöcker opted for a cash payout for their entitlements of € 160,000 and € 12,500 respectively.

The pension obligations to members of the Management Board from deferred compensation comprise the following:

 

 

Contribution total
as of December 31,

 

Defined benefit obligation
as of December 31,

 

 

 

 

 

 

 

 

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

Rolf Buch

 

225,000

 

180,000

 

2,105,694

 

1,324,821

Dr. A. Stefan Kirsten

 

160,000

 

109,600

 

1,782,051

 

1,255,072

Gerald Klinck

 

160,000

 

82,500

 

742,668

 

223,785

Remuneration of Former Management Board Members and Their Surviving Dependents

The total remuneration of the former Management Board members and their surviving dependents amounts to € 1.9 million for the 2016 fiscal year (2015: € 0.2 million). The pension obligations (DBO) to former members of the Management Board and their surviving dependents amount to € 14.4 million (2015: € 13.2 million).