40 Compensation of the Board of Management and the Supervisory Board

Compensation of the Board of Management

The presentation of the system used for compensation of the Board of Management and the disclosures required in accordance with § 314 (1) No. 6a sentences 5–8 HGB are a component of the combined management report.

Board of Management compensation for the 2017 financial year

Total compensation of the members of the Board of Management for the 2017 financial year amounted to EUR 21.3 million (2016: EUR 16.7 million). This includes a total of 116 808 entitlements to matching shares with a fair value of EUR 1.6 million on the date granted (2016: EUR 1.5 million).

Former members of the Board of Management

Total compensation included EUR 11.3 million (2016: EUR 7.2 million) for payments to and entitlements for former members of the Board of ­Management and those who left in the reporting year as well as any surviving dependents. Provisions (measured in accordance with IAS 19) totaling EUR 195.4 million (2016: EUR 201.6 million) were recognized for current pensions and vested rights to pensions for this group of persons and their surviving dependents.

Other

The Company has not granted any advances or loans to current or former Board of Management members, nor were any other financial obligations to the benefit of this group of people entered into.

Compensation of the Supervisory Board

The main features of the compensation system and the disclosure of the compensation of the individual members of the Supervisory Board are a component of the combined management report.

Total compensation of the members of the Supervisory Board for 2017 amounted to EUR 2,899,500.00 (plus VAT) and is comprised of fixed annual remuneration plus meeting attendance fees.

The Company has not granted any advances or loans to current or former Supervisory Board members, nor were any other financial obligations to the benefit of this group of people entered into.