Compensation

Compensation system

The compensation system for management board members and the Supervisory Board complies with applicable law and the recommendations of the German Corporate Governance Code (GCGC) unless a deviation has been or is declared. Amadeus Fire AG regularly reviews the compensation system and revises it if necessary.

The currently applied compensation system for the Management Board was put to the vote at the Annual General Meeting on 17 June 2020 as a ” Resolution on the approval of the compensation system for members of the Management Board” and was approved with 91% consent (valid votes cast: 2,951,761, share capital represented thereby: 56.78%, votes in favour: 2,690,781, proportion of votes in favour: 91.16%, votes against: 260,980). The remuneration system of the Executive Board members is detailed in the underlying Remuneration Report 2019.

The currently applied compensation system for the Supervisory Board was put to the vote at the Annual General Meeting on May 27, 2021 as ” Resolution on compensation and the compensation system for members of the Supervisory Board and corresponding amendments to the Articles of Association” and adopted with 99% approval (valid votes cast: 3,467,417, share capital represented thereby: 60.64%, yes votes: 3,435,590, proportion of yes votes: 99.08%, no votes: 31,827). The compensation system for the Supervisory Board is determined by the Annual General Meeting and is governed by Art. 13 of the Articles of Association. Below you will find the motion on the resolution adopted:

Resolution on compensation and the compensation system for members of the Supervisory Board

Regarding the actual remuneration of the Executive Board members and the Supervisory Board, please refer to the remuneration report in the current annual report.