Corporate Governance Declaration 2008
In 2002, a government commission formed by the German Federal Ministry of Justice issued the German Corporate Governance Code.
The objective of the Code is to make internationally and nationally accepted standards of good and responsible corporate governance more transparent to investors. The recommendations and suggestions contained in the Code have already been a firm element of Pfeiffer Vacuum’s corporate governance for years. Pursuant to § 161 of the German Stock Corporation Act, the Management and Supervisory Boards issued the statement of compliance for the year 2008 in December 2008. With the following exceptions, this reflects compliance with the recommendations of the German Corporate Governance Code Government Commission (as of 2008):
• The Executive Board and the Supervisory Board are and were willing to arrange a deductible with the
D & O insurance company on condition that the insurance premium is reduced. The insurer was not prepared to agree to this reduction. Therefore, no deductible was arranged.
(Point 3.8 of the Code)
• The members of the Supervisory Board have in the past received and presently still receive fixed compensation, which does not contain any performance-related variable income components. Their compensation is stated in the compensation report.
(Point 5.4.6 of the Code)
Asslar, Germany, in December 2008
Supervisory Board Management Board
Pfeiffer Vacuum Technology AG
The full text of the Code is available at the following Internet address:
www.corporate-governance-code.de