Compensation report
The June 13, 2006, Annual General Meeting decided to renounce the publication of the Board of Management’s remuneration broken down by member. Therefore, the following commentary is limited to the compensation model for the Board of Management.
The Supervisory Board reviews and adopts the compensation system for the Board of Management, including the key contractual elements. The remuneration of members of the Board of Management includes fixed and variable components. The Board of Management’s compensation system is distinguished by its performance orientation. This is reflected in the ratio of the variable to the fixed component. The variable element is based on the EBIT return on sales (ROS). The target return is subjected to an annual review to ensure it is aligned with the strategy and adjusted if necessary. Payment of the variable component is made once a year, after the financial statements of the preceding year have been adopted. Justice is done to the Code’s recommendations when drawing up contracts for the members of the Board of Management. Pensions for the Board of Management are calculated based on the individual’s years of service at Jungheinrich with a waiting period until the member has a right of non-forfeiture.
Hamburg, March 26, 2009
Supervisory Board Board of Management