Compensation Report 2011
Supervisory Board Compensation 2011
The rules governing Supervisory Board compensation are laid down in the articles of association of MTU Aero Engines Holding AG. Such compensation is established relative to the size of the company and as a function of the duties and responsibilities of the respective members.
Pursuant to Section 12 of the articles of association of MTU Aero Engines Holding AG, members of the Supervisory Board receive a fixed annual payment of € 30,000, payable at the end of the financial year; this sum is tripled in the case of the chair of the Supervisory Board, and multiplied by one-and a- half in the case of the deputy chair. The chairs of the committees (Audit Committee and Personnel Committee) each receive an additional € 10,000 in fixed compensation, while the ordinary committee members each receive an additional € 5,000. Further, members of the Supervisory Board receive an attendance fee of € 3,000 for each meeting of the Supervisory Board and its committees, subject to an upper limit of € 3,000 per day. Expenses incurred in connection with the exercise of their office are reimbursed, as is the value-added tax payable on the fees.
The members of the Supervisory Board do not receive any share-based compensation.
The following compensation was awarded to the individual members of the Supervisory Board of MTU Aero Engines Holding AG for the financial years 2011 and 2010 respectively:
Table " Supervisory Board compensation", please see Annual Report 2011, page 55
Further information about the Supervisory Board compensation can be found in the Annual Report 2011 (page 55).