Pension commitments under the previous system

The members of the Board of Management have direct pension commitments on the basis of their individual contracts, providing for benefits in case of permanent disability, death or retirement. If the contract of a member ends after at least five years of service on the Board of Management, the entitlements he has acquired will vest. Members become entitled to benefits due to permanent disability after at least five years of service.

Eligibility for retirement benefits begins at the earliest at the age of 55, or at the age of 62 in the case of Jürgen Gerdes. The members of the Board of Management may choose between regular pension payments and a lump sum. The benefit amount depends on the pensionable income and the pension level derived from the years of service.

Pensionable income consists of the fixed annual remuneration (annual base salary) computed on the basis of the average salary of the last 12 months of employment. Members of the Board of Management appointed for the first time between 2002 and 2007 attain a pension level of 25% after five years of service on the Board of Management. The maximum pension level of 50% is attained after ten years of service. For active Board of Management members appointed prior to 2002, the maximum pension level is 60%. Depending on the individual contractual arrangements, the pension level increases gradually based on either the period of service or the periods of appointment on the Board of Management. Subsequent pension benefits increase or decrease to reflect changes in the consumer price index in Germany.

B.09 Individual pension commitments under the previous system in financial year 2009
	Pension commitments
	Pension level on 31 Dec. 2009 %	Maximum pension level %	Service cost for pension obligation Financial year 2009 €
Dr Frank Appel, Chairman	25	50	415,539
Jürgen Gerdes1)	0	50	117,912
John Mullen (until 24 Feb. 2009)	45	50	674,2112)
Walter Scheurle	30	60	506,408
Total			1,714,070

B.10 Individual pension commitments under the previous system in 2008
	Pension commitments
	Pension level on 31 Dec. 2008 %	Maximum pension level %	Service cost for pension obligation Financial year 2008 €
Dr Frank Appel (Chairman since 18 Feb. 2008)	25	50	444,8971)
Jürgen Gerdes2)	0	50	112,312
John Mullen	35	50	546,824
Walter Scheurle	30	60	528,795