Supervisory Board remuneration

Remuneration system

The Supervisory Board’s remuneration is defined in article 18 of KION GROUP AG’s articles of association. Members of the Supervisory Board receive fixed remuneration plus reimbursement of out-of-pocket expenses. The fixed annual remuneration of an ordinary member amounts to €55,000. The chairman of the Supervisory Board receives three times the amount of an ordinary member, i.e. €165,000, and his deputy receives two times the amount of an ordinary member, i.e. €110,000.

Additional remuneration is paid for being a member or chairman of a committee, although this does not apply in the case of the Nomination Committee or the Mediation Committee pursuant to section 27 (3) of the German Codetermination Act (MitbestG). The annual remuneration for members of the Executive Committee is usually €8,000, while the chairman of the Executive Committee receives double this amount, i.e. €16,000. Ordinary members of the Audit Committee receive €15,000, the chairman of the Audit Committee €45,000 and his deputy €30,000 in view of their greater responsibilities and thus the greater amount of their time taken up.

If a member of the Supervisory Board or one of its committees does not hold their position for a full financial year, remuneration is paid pro rata in the amount of one twelfth of the annual amount for each full or partial month that they were a member. The same formula is applied if the chair of the Supervisory Board or one of its committees does not hold their position for a full financial year.

The members of the Supervisory Board receive an attendance fee of €1,500 per day for meetings of the Supervisory Board and its committees, although they only receive this amount once if they attend more than one meeting on the same day.

The Company reimburses each member for any VAT incurred in connection with his or her remuneration.

In the interests of the Company, a D&O insurance policy without an excess has been taken out for the members of the Supervisory Board. The Company pays the premiums for this.

Remuneration paid to members of the Supervisory Board in 2019

The total remuneration paid to the Supervisory Board in 2019 was €1,469 thousand (2018: €1,455 thousand). Of this amount, €1,063 thousand (2018: €1,050 thousand) was attributable to fixed remuneration for activities carried out by the Supervisory Board. The remuneration paid for committee work (including attendance fees) totalled €406 thousand (2018: €406 thousand). The following table shows the breakdown of remuneration paid to each Supervisory Board member for 2019. > TABLE 036

In 2019, no company in the KION Group paid or granted any remuneration or other benefits to members of the Supervisory Board for services provided as individuals, such as consulting or brokerage activities. Nor were any advances or loans granted to members of the Supervisory Board.