LTI-Programme (Long Term Incentive)

The LTI program has introduced a remuneration tool for members of the Management Board and first-level managers with a view to promoting added value at CA Immo over the medium to long term. The program is passed by annually by the full Supervisory Board (starting in business year 2010) on the recommendation of the remuneration and nomination committee. The LTI scheme is a revolving program with a term (retention period) of three years per tranche. Participation requires a personal investment restricted to 50 % of basic salary for Management Board members and 25 % or 35 % of basic salary for other managerial staff. The investment is evaluated at the closing rate on 31 December, with the number of associated shares thereby determined. The following conditions are defined for the LTI program for 2011-2013: eligibility to participate, compulsory personal investment, profit criteria. As was the case with the LTI scheme for 2010-2012, target values have been defined as growth in NAV, ICR (interest coverage ratio) and TSR (total shareholder return). The extent to which the targets are met is determined by comparing the defined target values with the values actually attained. Payments are made in cash. For the Management Board a reserve totalling € 425 K (compared to € 172 K in the previous year) has been formed in connection with the LTI program.

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