ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

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Annual Financial Statements of SinnerSchrader AGNotes935 OtherInformation5.1 Other Financial ObligationsTable 3 | Obligations from rent and lease contracts in €01.09.2009 – 31.08.2010 778,98401.09.2010 – 31.08.2011 1,032,123After 31.08.2011 –Total 1,811,107The financial obligations largely concern fixed-term rental contracts for the office space in Hamburg andFrankfurt am Main which have a minimum remaining term of just under two years each.5.2 EmployeesOn average for the 2007/2008 financial year, the Company had 23 employees (previous year: 20).5.3 Management BoardIn the 2008/2009 financial year, the following persons were members of the Management Board:Matthias Schrader, Chairman• Businessman, Hamburg• Member of the Supervisory Board of spot-media AGThomas Dyckhoff, Finance Director• Businessman, Hamburg• Chairman of the Supervisory Board of spot-media AGThe members of the Management Board performed their duties on a full-time basis. The compensation of theManagement Board members was made up as follows:Table 4 | Remuneration of the Management Board members 2008/2009Fixed salaryin €Other benefitsin €Variable componentsin €Share-basedcompensationin €Matthias Schrader 180,000 16,112 – –Thomas Dyckhoff 130,000 11,881 50,984 –Total 310,000 27,993 50,984 –In the 2008/2009 financial year, the total compensation for the Management Board amounted to € 388,977.
94NotesAnnual Financial Statements of SinnerSchrader AG5.4 Supervisory BoardIn the financial year, the following persons were members of the Supervisory Board:Prof. Dr Reinhard Pöllath, Chairman• Lawyer, Munich• Partner in P+P Pöllath + Partners, Munich• Chairman of the Supervisory Board of maxingvest ag, Hamburg• Chairman of the Supervisory Board of Beiersdorf AG, Hamburg• Member of the Supervisory Board of Tchibo GmbH, Hamburg• Chairman of the Supervisory Board of Escada AG, HamburgDieter Heyde, Deputy Chairman• Businessman, Bad Nauheim• Managing Partner of SALT Solutions GmbH, Würzburg• Member of the Advisory Board of CCP Software GmbH, MarburgProf. Cyrus D. Khazaeli• Communication Designer, Berlin• Professor for Information and Interaction Design at Berliner Technische Kunsthochschule, BerlinThe compensation of the Supervisory Board members in the 2008/2009 financial year was made up as follows:Table 5 | Remuneration of the Supervisory Board members 2008/2009Fixed salaryin €Other benefitsin €Variable componentsin €Stock options innumberProf. Dr Reinhard Pöllath 8,000 118 – –Dieter Heyde 6,000 118 – –Prof. Cyrus D. Khazaeli 4,000 118 – –Total 18,000 354 – –Another benefit for every member of the Supervisory Board is the proportionate premium for the economic lossindemnity insurance for bodies of legal persons taken out by the Company.5.5 ParticipationsOn 19 May 2009, SinnerSchrader AG signed a sales contract for all shares of newtention technologies GmbH.After all pending approvals were received, the first purchase price instalment comprising € 181,000 in cashand 20,000 shares of SinnerSchrader treasury stock worth € 29,000 was paid on 29 May 2009. On this date, allshares of newtention technologies GmbH passed to SinnerSchrader AG. A second purchase price instalment isto be paid in April 2010 depending on the development of certain factors in newtention’s business and has beenassessed at € 40,000. Furthermore, an amount of around € 19,000 had to be paid to remove a silent shareholderin newtention technologies GmbH, with the result that the acquisition costs total € 268,000.
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ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

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