The compensation of the Supervisory Board members is defined by Article 20 of the Articles of Association of Merck KGaA. However, a new compensation system will be proposed to the General Meeting to reflect the changes in the German Corporate Governance Code announced on June 15, 2012. The rules that still apply at the present time provide for the following:
Apart from reimbursement of their expenses, the members of the Supervisory Board receive fixed and variable compensation.
The fixed compensation amounts to € 7,000 per year. The Chairman receives double this amount and the Vice Chairman receives one and a half times this amount.
The members of the Supervisory Board also receive € 550 for each percent of the dividend resolved by the General Meeting in excess of 6% of the share capital, with a corresponding portion for fractions of a percent. The Chairman receives double this amount and the Vice Chairman receives one and a half times this amount.
Supervisory Board members who have only been in office for part of the fiscal year receive lower compensation in proportion to their term of office. The company reimburses the value-added tax levied on the compensation.
The individual values are presented in the following table:
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Compensation of the Supervisory Board members of Merck KGaA |
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Fixed compensation |
Variable compensation |
Total compensation | |||||||||||||||||||
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€ |
2012 |
2011 |
2012 |
2011 |
2012 |
2011 | ||||||||||||||||
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Rolf Krebs1 (Chairman) |
14,000 |
14,000 |
65,318 |
56,859 |
79,318 |
70,859 | ||||||||||||||||
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Heiner Wilhelm (Vice Chairman) |
10,500 |
10,500 |
48,988 |
42,644 |
59,488 |
53,144 | ||||||||||||||||
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Crocifissa Attardo |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Mechthild Auge |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Johannes Baillou2 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Frank Binder3 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Wolfgang Büchele2 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Michael Fletterich |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Edeltraud Glänzer |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Jürgen Glaser5 |
4,686 |
– |
21,862 |
– |
26,548 |
– | ||||||||||||||||
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Michaela Freifrau von Glenck4 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Frieder Kaufmann6 |
2,505 |
7,000 |
11,689 |
28,429 |
14,194 |
35,429 | ||||||||||||||||
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Hans-Jürgen Leuchs2 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Albrecht Merck3 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Karl-Heinz Scheider |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Theo Siegert1 |
7,000 |
7,000 |
32,659 |
28,429 |
39,659 |
35,429 | ||||||||||||||||
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Osman Ulusoy7 |
2,314 |
7,000 |
10,797 |
28,429 |
13,111 |
35,429 | ||||||||||||||||
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Berthold Wagner8 |
4,495 |
– |
20,969 |
– |
25,464 |
– | ||||||||||||||||
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Total |
122,500 |
122,500 |
571,531 |
497,509 |
694,031 |
620,009 | ||||||||||||||||
By contrast, the new compensation system to be proposed to the 2013 General Meeting in conformity with the new recommendations of the German Corporate Governance Code provides exclusively for fixed compensation. To this extent, annual fixed compensation of € 47,000 (the Chairman receives twice this amount, the Vice Chairman one and a half times this amount) as well as additional compensation of € 750 per meeting will be proposed.
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