Corp. governance

Good corporate governance has the highest priority at MAXDATA. We welcome the initiatives that have been arranged in Germany and at an international level.

German Corporate Governance Code

Declaration by the MAXDATA AG management and supervisory boards on the recommendations of the "German Corporate Governance Code Government Commission"

This declaration of conformity relates to the German Corporate Governance Code, as at 12 June 2006.

Declaration as per Section 161 of the German Share Code (AktG)

View the declaration of conformity dated 27 February 2007
[pdf download - german version]

[ Sect 4.2.3 Para. 3 Sent. 2 ]
Board member compensation is comprised of the basic annual salary plus a percentage of the profits. Goals for profit sharing for the following year are set together annually, with the board members of MAXDATA AG. This assessment, carried out by the Supervisory Board’s Human Resources Committee is based on quantitative and qualitative criteria. Ascertaining whether a goal has been reached, as well as the amount of the profit sharing, is done along with and based on the determination of annual profit or loss. Payout is made along with the normal salary payment in the same month that the annual company profit or loss is determined.

In connection with the stock option plan from 1999, board member Thomas Stiegler received 3,000 options. Currently, up to 65 percent of the first and second tranches could be exercised, due to existing waiting periods. Since the price of MAXDATA shares underlying the options plan does not currently create enhancement of value, the stock options are not valuated in the sense of the German Corporate Governance Codex (here: Sect 4.2.3 Para. 3 Sent. 2).