Provisions to cap severance payments pursuant to the Corporate Governance Code recommendation, change-of-control provisions and post-contractual non-compete clauses starting in 2008

In accordance with the recommendation of Section 4.2.3 of the German Corporate Governance Code as amended on 6 June 2008, the Board of Management contracts newly concluded since financial year 2008 contain a provision stipulating that in the event of premature termination of a Board of Management member’s contract without good cause, the severance payment may compensate no more than the remaining term of the contract. The severance payment is limited to a maximum value of two years’ remuneration including fringe benefits (severance payment cap).