Compensation

Remuneration of the Management Board

The overall annual compensation paid to Management Board members consists of a number of compensation components. These include fixed compensation, a bonus, a medium- and long-term incentive component as well as additional benefits. Each year, the structure and appropriateness of the total compensation packages are subject to a review by the Remuneration & Nomination Committee. Compensation is based in particular on the duties of the individual Management Board member, his/her personal performance and that of the Management Board, as well as on the business situation, success and prospects of the Company relative to its competitive environment.

The complete compensation packages are compared to the outcome of the Annual German Biotechnology Industry Remuneration Study (GRS Study), and to other international benchmark sources. The adjustments to the compensation packages are adopted by the plenum of the Supervisory Board.

In the 2008 fiscal year, the total cash remuneration paid to the members of the Management Board amounted to EUR 1,819,317 (previous year: EUR 1,473,437). For a list of remuneration relating to individual Management Board members, divided into fixed, variable and other remuneration components, see the Group Management Report 2008 on page 47.

Remuneration of the Supervisory Board

In the 2008 fiscal year, the members of the Supervisory Board received a total of EUR 292,500 (2007: EUR 298,500), excluding reimbursement of travel expenses. This amount consists of fixed remuneration and variable compensation (attendance fees). For a list of remuneration relating to individual Supervisory Board members, see page 49 of the Group Management Report 2008.