Pallet-Management-Services - AFM

Board of Managing Directors
According to the articles of association:
The Board of Managing Directors is in charge of managing the Company. It shall consist out of
one or more Managing Directors. Presently, the Board of Managing Directors consists of two
Managing Directors.
The Managing Directors are appointed by the General Meeting of Shareholders. They are
appointed for a maximum period of four (4) years, provided that, unless a Managing Director
resigns at an earlier date, his appointment term ends on the day of the next General Meeting of
Shareholders to be held in the fourth year after the year of his appointment. A Managing Director
can be reappointed for consecutive periods of not more than four (4) years and with due
observance of the provisions in the preceding sentence. The Supervisory Board can draw up a
rotation schedule for the Managing Directors.
The Board of Managing Directors meets as often as a Managing Director requests a meeting. In
the meeting of the Board of Managing Directors each Managing Director has a right to cast one
(1) vote. All resolutions by the Board of Managing Directors shall be adopted by an absolute
majority of the votes cast.
The Board of Managing Directors shall timely provide the Supervisory Board with any such
information as may be necessary for the Supervisory Board to perform its duties.
Supervisory Board
According to the articles of association:
The Company has a Supervisory Board, consisting of at least three (3) natural persons, the
precise number of whom is determined by the General Meeting of Shareholders. Presently the
Supervisory Board consists of six (6) natural persons.
The Supervisory Board Directors are appointed by the General Meeting of Shareholders for a
maximum term of four (4) years, provided that, unless a Supervisory Board Director retires
earlier, his appointment term expires on the day of the next General Meeting of Shareholders to
be held in the fourth year after the year of his appointment. At expiration of this term a
Supervisory Board Director can be reappointed with due observance of the provisions in the
previous sentence, provided always that a Supervisory Board Director may not serve more than
three (3) consecutive four-year terms.
The duty of the Supervisory Board is to supervise the policies of the Board of Managing
Directors and the general course of affairs of the Company and its affiliated business. It shall
give advice to the Board of Managing Directors. The Supervisory Board can give instructions to
the Board of Managing Directors outlining the Company's general financial, social, economic,
investment, staffing and environmental policy.
The Supervisory Board shall meet as often as a Supervisory Director or the Board of Managing
Directors may deem necessary. In the meeting of the Supervisory Board each Supervisory
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