Executive Board Compensation
Annual fixed salary
The annual fixed salary amounts to €449 thousand for full members of the Executive Board and €768 thousand for the Chairman of the Executive Board. As newly appointed Executive Board members, the remuneration received by Mr. Töpfer and Mr. Enenkel is reduced by 20 percent until March 31, 2011 and April 7, 2012 respectively.
Variable remuneration
As the starting amount of variable remuneration, the full members of the Executive Board receive €3,800, the new Executive Board members receive €3,040, and the Chairman of the Executive Board receives €6,600 per €1 million of the average EBT achieved by the Group in the past three years. This starting amount is limited by a cap of €1,300 thousand for full members of the Executive Board, €1,040 thousand for newly appointed Executive Board members, and €2,200 thousand for the Executive Board Chairman. 65 percent of the starting amount is paid out immediately. The remaining 35 percent (deferral) is paid out after a waiting period of 2 years depending on the development of Bilfinger Berger’s share price (in terms of total shareholder return) compared with the MDAX. If the relative development of the share price is more than 60 percent worse than the MDAX, the deferral is not paid out. The deferral is limited by a cap to 150 percent of its starting value (which is 35 percent of the starting amount of the variable remuneration).
Supervisory Board Compensation
As specified by Article 16 of Bilfinger Berger’s Articles of Incorporation the members of the Supervisory Board are to be paid a fixed annual compensation of EUR 70,000. The Chairman of the Supervisory Board is to be paid two-and-a-half times this amount, the Deputy Chairman of the Supervisory Board and the Chairmen of the committees, with the exception of the Nomination Committee, are to be paid twice this amount, the members of the committees, with the exception of the Nomination Committee, are to be paid one-and-a-half times this amount. If a member of the Supervisory Board exercises several of the aforementioned functions, he or she will be entitled to only one of these compensation amounts, i.e. whichever is highest
In addition, the members of the Supervisory Board also receive an attendance fee of EUR 500 for every meeting of the Supervisory Board or its committees which they attend.