Compensation System for Supervisory Board Members


The principles of the compensation of the Supervisory Board members are set forth in our Articles of Association, which our shareholders amend from time to time at the Annual General Meeting. Such compensation provisions were last amended at our Annual General Meeting on May 24, 2007.

The following provisions apply to the 2011 financial year: compensation consists of a fixed remuneration of € 60,000 per year and a dividend-based bonus of € 100 per year for every full or fractional € 0.01 increment by which the dividend we distribute to our shareholders exceeds € 1.00 per share. Each member of the Supervisory Board also receives annual remuneration linked to our long-term profits of € 100 for each € 0.01 by which the average earnings per share (diluted), reported in our financial statements in accordance with the accounting principles to be applied in each case on the basis of the net income figures for the three previous financial years, exceed the amount of € 4.00.

These amounts are increased by 100 % for every membership in a committee of the Supervisory Board. Committee chairpersons receive an increase of 200 %. These provisions do not apply to the Mediation Committee formed pursuant to Section 27 (3) of the Co-Determination Act. The Supervisory Board Chairman is paid four times the base compensation of a regular member, and does not receive incremental increases for committee work. The deputy to the Supervisory Board chairman is paid one and a half times the base compensation of a regular member. In addition, the members of the Supervisory Board receive a meeting fee of € 1,000 for each Supervisory Board and committee meeting they attend. Furthermore, in our interest, the members of the Supervisory Board will be included in any financial liability insurance policy held in an appropriate amount by us, with the corresponding premiums being paid by us.

We also reimburse members of the Supervisory Board for all cash expenses and any value added tax (Umsatzsteuer, at present 19 %) they incur in connection with their roles as members of the Supervisory Board. Employee representatives on the Supervisory Board also continue to receive their employee benefits. For Supervisory Board members who served for only part of the year, we pay a portion of the total compensation based on the number of months they served, rounding up to whole months.

The members of the Nomination Committee, which was first formed after the Annual General Meeting in 2008, waived all remuneration, including the meeting fee, for their Nomination Committee work for 2009 and the following years, as in the previous years.

Supervisory Board Compensation for Fiscal Year 2011

We compensate our Supervisory Board members after the end of each fiscal year. In January 2012, we paid each Supervisory Board member the fixed portion of their remuneration and meeting fees for services in 2011. In addition, we will generally pay each Supervisory Board member remuneration linked to our long-term performance as well as a dividend-based bonus, as defined in our Articles of Association, and expect to do so again for their services in 2011. Assuming that the Annual General Meeting in May 2012 approves the proposed dividend of € 0.75 per share, the Supervisory Board will receive a total remuneration of € 2,608,600 (2010: € 2,453,000).

Individual members of the Supervisory Board received the following compensation for the 2011 financial year (excluding statutory value added tax).

Members of the Supervisory Board

Compensation for fiscal year 2011

Compensation for fiscal year 2010

in €

Fixed

Variable7

Meeting fee

Total

Fixed

Variable

Meeting fee

Total

1

Member until July 31, 2010.

2

Member since May 26, 2011.

3

Member until May 26, 2011.

4

Member until October 25, 2011.

5

Member since November 30, 2011.

6

Member until June 30, 2010.

7

Variable compensation for a regular member of € 7,200 is made up of a dividend-based amount of € 0 and an amount of € 7,200 linked to the long-term performance of the company.

Dr. Clemens Börsig

240,000

28,800

23,000

291,800

240,000

31,000

271,000

Karin Ruck

210,000

25,200

17,000

252,200

210,000

25,000

235,000

Wolfgang Böhr

60,000

7,200

6,000

73,200

60,000

9,000

69,000

Dr. Karl-Gerhard Eick

180,000

21,600

12,000

213,600

180,000

13,000

193,000

Heidrun Förster1

70,000

14,000

84,000

Katherine Garrett-Cox2

40,000

4,800

3,000

47,800

Alfred Herling

120,000

14,400

11,000

145,400

85,000

12,000

97,000

Gerd Herzberg

60,000

7,200

6,000

73,200

60,000

9,000

69,000

Sir Peter Job3

75,000

12,600

8,000

95,600

180,000

14,000

194,000

Prof. Dr. Henning Kagermann

120,000

14,400

12,000

146,400

120,000

13,000

133,000

Peter Kazmierczak4

50,000

6,000

6,000

62,000

30,000

3,000

33,000

Martina Klee

60,000

7,200

6,000

73,200

60,000

9,000

69,000

Suzanne Labarge

120,000

14,400

11,000

145,400

120,000

13,000

133,000

Maurice Lévy

60,000

7,200

5,000

72,200

60,000

7,000

67,000

Henriette Mark

120,000

14,400

12,000

146,400

120,000

15,000

135,000

Gabriele Platscher

60,000

7,200

6,000

73,200

60,000

9,000

69,000

Dr. Theo Siegert

145,000

17,400

13,000

175,400

120,000

12,000

132,000

Dr. Johannes Teyssen

60,000

7,200

6,000

73,200

60,000

8,000

68,000

Marlehn Thieme

120,000

14,400

11,000

145,400

120,000

13,000

133,000

Tilman Todenhöfer

120,000

14,400

11,000

145,400

120,000

18,000

138,000

Stefan Viertel

60,000

7,200

6,000

73,200

25,000

2,000

27,000

Renate Voigt5

10,000

1,200

11,200

Werner Wenning

60,000

7,200

6,000

73,200

60,000

8,000

68,000

Leo Wunderlich6

30,000

6,000

36,000

Total

2,150,000

261,600

197,000

2,608,600

2,190,000

263,000

2,453,000

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Deutsche Bank Annual Report 2011

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