Supervisory Board

The supervisory board appoints and controls the members of the management board and advises on the direction of the Company. Pursuant to the Company's articles of association and section 95 and 96 of the German Stock Corporation Act, the supervisory board is composed of three members that are appointed by the general shareholders' meeting.

The supervisory board consists of the following members.

Unless otherwise determined by the shareholders, under the Company's articles of association the term of a supervisory board member expires at the end of the annual general shareholders' meeting that formally ratifies the actions of the supervisory board for the fourth fiscal year following the commencement of the member's term of office, not including the fiscal year in which the term commences.

Any supervisory board member may be removed by a resolution of the general shareholders' meeting, approved by at least three-quarters of the votes cast by the shareholders in the general shareholders' meeting. In addition, according to the articles of association, any supervisory board member may resign, for any reason, by serving one month's prior written notice to the Company, represented by the management board. The chairman of the supervisory board may waive the notice period.