Merck 2008 Annual Report Download - page 141
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The remuneration of the Executive Board of Merck KGaA is largely paid by the general
partner, E. Merck KG, and recorded as an expense in its income statement. For January
to December 2008, fixed salaries of € 2.4 million (2007: € 3.0 million) and variable
compensation of € 9.9 million (2007: € 21.9 million) were recorded for Members of the
Executive Board of Merck KGaA. Variable compensation is in principle based on the
three-year rolling average of profit after tax of the E. Merck Group. Furthermore, addi-
tions to pension provisions of E. Merck KG include current service costs of € 2.0 million
(2007: € 2.0 million) for members of the Executive Board of Merck KGaA.
Subject to the approval of the Annual General Meeting on the proposed distribution
of a € 1.50 dividend per share, the remuneration of the Supervisory Board amounting to
€ 586 thousand (2007: € 964 thousand) consists of a fixed portion of € 116 thousand
(2007: € 95 thousand) and a variable portion of € 470 thousand (2007: € 869 thousand).
Further material transactions, for example the provision of services or the extension
of loans, between companies of the Merck Group and members of the Executive Board
and the Supervisory Board of Merck KGaA, the Executive Board and the Board of Part-
ners of E. Merck KG or close members of their families did not take place in 2008.
[49] Information on preparation and approval
The Executive Board of Merck KGaA prepared the consolidated financial statements on
February 5, 2009 and approved them for forwarding to the Supervisory Board. The Su-
pervisory Board has the responsibility to examine the consolidated financial statements
and to declare whether it approves them.
136 | Merck Annual Report 2008