Download - Salzgitter AG

1) Including amounts
provisioned for
2007; determined
by way of resolution
passed by the
Presiding
Committee of the
Supervisory Board
once the annual
statements have
been adopted
2.3 Remuneration of Executive Board and Supervisory Board
Remuneration of the Executive Board
The remuneration of the Executive Board members is determined in their contracts of employment.
The individual members of the Executive Board receive remuneration which reflects their tasks,
their own individual performance as well as the economic situation and success of the company. This
remuneration consists of a basic fixed component and a variable component. The latter is divided into
two parts: one which is results-based and calculated according to the return on capital employed
(ROCE), and the other which depends on the overall performance of the individual Board member.
The results-based part is capped, which creates a long-term incentive to achieve good, sustainable
results.
The members of the Executive Board also receive a pension commitment which is a percentage portion
of between 50 and 60 % of the fixed remuneration component and therefore does not depend
on the variable component. This percentage portion rises depending on the term of office of the
respective board member. No other payments have been pledged to any Board member in the event
that the respective member’s service to the company should end. The structure of remuneration is
regularly reviewed by the Supervisory Board, the last time in 2007.
Remuneration with long-term incentive was neither granted nor pledged to the individual members of
the Executive Board in 2006 or in 2007. Similarly, no benefits relating to their activities as members of
the Executive Board were pledged or granted by third parties.
Remuneration received by the individual members of the Executive Board:
in € Annual payment in 2007
Fixed Remuneration Variable Total
remuneration in kind remuneration1) Dr.-Ing. Wolfgang Leese (Chairman)
Dr.-Ing. Heinz Jörg Fuhrmann
624,000 43,344 1,187,500 1,854,844
(Vice Chairman) 473,010 27,091 804,219 1,304,320
Wolfgang Eging 375,000 18,103 629,390 1,022,493
Hans Fischer 375,000 19,603 662,813 1,057,416
Heinz Groschke 375,000 18,910 661,900 1,055,810
Peter-Jürgen Schneider 375,000 34,763 665,000 1,074,763
Total 2,597,010 161,814 4,610,822 7,369,646