Julia Ortner examines the appropriate design of compensation systems for the board of directors and the supervisory board against the backdrop of value orientation. The focus of her investigation is on the implications of the supervisory board's compensation competence for the board of directors. The author derives requirements for the respective compensation systems to achieve interest harmony in terms of incentive compatibility within the framework of a two-tier principal-agent relationship. Both the case of known preferences and the case of unknown preferences are considered. Furthermore, the author provides practical recommendations regarding the design of compensation and desirable framework conditions.