In addition to the duties and authorities incumbent on it by law, the supervisory board has in particular the following duties and authority:
It monitors the managing directors and represents the company vis à vis the managing directors before court and out-of-court, in particular with respect to the contracts of employment of the managing directors. It proposes to the shareholders' meeting the nomination or dismissal of managing directors and loges claims for compensation on behalf of the company against the managing directors. It is entitled to examine the books and records of the company or to appoint individual members or experts to do so. Pursuant to § 1 Para. I no. 3 DrittelbG (Law on One-Third Participation of Employees on Supervisory Boards) in conjunction with § 90 Para III to V AktG (German Stock Corporation Law) it can require the managing directors to report to it at any time. It proposes to the shareholders' meeting the balance sheet auditor for the company. It checks the annual accounts, the status report and the proposal for the use of balance sheet profits, and reports to the shareholders' meeting in writing about the result of this: § 1 Para I no. 3 DrittelbG (Law on One-Third Participation of Employees on Supervisory Boards) in conjunction with § 171 Para. II AktG (German Stock Corporation Law) applies accordingly. It advises the managing directors in advance on their submissions for the shareholders' meeting.
Chair of the Supervisory Board
Erich Stather
