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The Dutch Corporate Governance Code requires
that the main elements of the contract of an Executive Board member
shall be made public immediately after it is concluded.
The material elements of the remuneration of the Executive Board
members incuding the material elements of the employment contracts
of the Executive Board members, are included in the
attachment (pdf).
Executive Board compensation
Executive Board compensation consists of three basic
components:
- Fixed or base salary, which represents the total
guaranteed annual income.
- Short-term incentive in cash, which compensates
for past performance measured over one year.
- Long-term incentive in stock options and/or
performance shares, which compensates for performance measured over
multiple years and is forward-looking.
In the Annual Report extensive information is given on the
remuneration of the Executive Board. See the Remuneration report in
the
2008 Annual Report (pages 73 to 82).
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