Compensation Report

Further Information

Advances or loans to members of the Board of Management or Supervisory Board

There were no advances or loans to members of the Board of Management or the Supervisory Board outstanding as of December 31, 2016, nor at any time during 2016 or 2015.

Pension payments to former members of the Board of Management or their surviving dependents

We currently pay retired members of the Board of Management a monthly pension equal to a maximum of 80% of the fixed compensation received immediately prior to retirement. The pensions paid to former members of the Board of Management or their surviving dependents are reassessed annually and adjusted, taking into account the development of consumer prices. The pensions paid to former members of the Board of Management or their surviving dependents in 2016 totaled €12,800 thousand (2015: €13,416 thousand). These benefits are paid in addition to any amounts they receive under previous employee pension arrangements. The present value of the defined benefit pension obligation for former members of the Board of Management and their surviving dependents according to the IFRS amounted to €188,850 thousand (2015: €172,767 thousand), while the settlement value of the pension obligation according to the German Commercial Code amounted to €149,632 thousand (2015: €148,632 thousand).