D&O Insurance

The Executive Board and the Supervisory Board are under the obligation to apply the principles of proper corporate management. Should they culpably violate their duty to exercise due care, Bechtle AG may assert claims for damages against them. To cover this risk, the company has taken out directors & officers insurance for the Executive Board and Supervisory Board members. Contrary to the DCGK recommendation (Section 3.8 (2)), the D&O insurance for the Executive Board and Supervisory Board of Bechtle AG does not provide for a deductible. The company does not plan to change this arrangement. The company does not believe that a reasonable deductible would contribute to an improved sense of responsibility and motivation of the Supervisory Board and of the Executive Board.