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| Declaration of Compliance 2003 |
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Declaration by the Management and Supervisory Boards of Carl Zeiss Meditec AG on the German Corporate Governance Code in accordance with Art. 161 AktG (Stock Corporation Act)
Pursuant to Art. 161 AktG the Management and Supervisory Boards of Carl Zeiss Meditec AG are obliged to submit an annual declaration that the recommendations of the Government Commission on the German Corporate Governance Code have been complied with. This declaration must be made permanently accessible to shareholders.
The Management Board and Supervisory Board declare herewith that since its last declaration of 6 December 2002, Carl Zeiss Meditec AG has applied the recommendations of the "Government Commission on the German Governance Code" in the version dated 26 February 2002 without limitation. The Management and Supervisory Boards furthermore declare that Carl Zeiss Meditec AG observes and will continue to observe the recommendations of the Code in the version dated 21 May 2003. Merely the following recommendation is applied in a qualified form.
Art. 4.2.4:
In the notes to the consolidated financial statements, remuneration paid to members of the Management Board shall be shown divided into fixed allowances, profit-orientated components and components with long-term incentive effect. The figures shall be shown for each director individually.
Payments received by the Management Board are shown as a total in the notes to the consolidated financial statements for the financial year 2002/2003. The Management and Supervisory Boards will examine the possibility of an individualised declaration in future.
Jena, 8 December 2003
For the Supervisory Board
Dr. Michael Kaschke | For The Board of Management
Ulrich Krauss |
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