Remuneration of Management and Supervisory Board
Management Board
The remuneration of the Members of the Management Board consists of
- fixed remuneration
- variable remuneration, so-called bonus, and
- stock options.
The remuneration paid to the members of the Management Board in the financial year totalled T€ 1,041 of which T€ 380 was variable remuneration.
Fixed remuneration includes base salaries, contributions to personal pension plans, premiums for accident and accidental death insurances as well as the benefit derived from the use of company cars.
The variable remuneration is based on a bonus scheme designed by the Remuneration Committee of the Supervisory Board and is then approved by the Supervisory Baord.
Scheme for the variable portion of the remuneration in 2008 relating to the business year 2007:
| |
Achievement of defined milestones
% |
Achievement of budget financial targets
% |
Stock price
% |
Personal objectives
% |
| Jörn Aldag |
40 |
30 |
30 |
- |
| Dr Klaus Maleck |
40 |
40 |
- |
20 |
| Dr Mario Polywka |
40 |
40 |
- |
20 |
Scheme for the variable portion of the remuneration of Jörn Aldag and Dr Dirk Ehlers in 2007 relating to the business year 2006:
30% based on the achievement of defined corporate milestones, 30% on the achievement of share price targets, 30% on the achievement of budget financial targets and 10% on the achievement of personal objectives.
In addition, under the Company's stock option plans, the members of the Management Board received in 2007 280,000 stock options. The options granted in 2007 and 2006 are subject to the stipulation of the Option Plan 2005 and may be exercised after three years if the conditions of this plan are met.
Remuneration 2007
| |
Fixed remuneration
T€ |
Variable remuneration
T€ |
Stock options
in pcs. |
Fair values
stock options
T€ |
| Jörn Aldag |
365 |
252 |
200,000 |
284 |
| Dr Klaus Maleck* |
40 |
- |
20,000 |
18 |
| Dr Mario Polywka* |
49 |
- |
60,000 |
55 |
| Dr Dirk H Ehlers** |
207 |
128 |
- |
- |
| Total |
661 |
380 |
280,000 |
357 |
- *
- Member of the Management Board since November 1, 2007
- **
- Member of the Management Board until August 31, 2007
Supervisory Board
The remuneration of the Supervisory Board is laid out in the Articles of Association of Evotec AG and consists of a fixed and variable remuneration.
The fixed remuneration is set at T€ 15 annually per member plus verified expenses. The Chairman of the Supervisory Board will receive double, his Deputy one and a half times this amount. The additional remuneration for a member of a Supervisory Board committee amounts to T€ 3.75, for the Chairman of those committees to T€ 7.5.
Besides the fixed remuneration, and in accordance with the suggestions of the German Corporate Governance Code, the members of the Supervisory Board receive a remuneration based on the Company's long-term performance. They receive an element of the remuneration to be made in shares of the Company worth T€ 7.5 per member, in order to further align the interests of the individual Supervisory Board members and the development of Evotec's share price. The Chairman of the Supervisory Board will receive double, his Deputy one and a half times this amount.
In addition, if the shareholders receive a dividend, every Supervisory Board Member will receive, as variable remuneration, an extra € 500 for every cent that the dividend per share exceeds 15 cents.
The total remuneration paid to Supervisory Board in the financial year 2007 amounted to T€ 198.8:
Remuneration 2007
|
Fixed
remuneration
T€ |
Equity-based
remuneration
T€ |
Total
T€ |
| Prof Dr Heinz Riesenhuber |
37.5 |
15.0 |
52.5 |
| Peer Schatz |
30.0 |
11.2 |
41.2 |
| Dr Hubert Birner |
22.5 |
7.5 |
30.0 |
| Dr Peter Fellner |
18.8 |
7.5 |
26.3 |
| Dr William Jenkins |
15.0 |
7.5 |
22.5 |
| Mary Tanner |
18.8 |
7.5 |
26.3 |
| Total |
142.6 |
56.2 |
198.8 |