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Inhoudsopgave Bestuursverslag Corporate governance
For all Identified Staff variable pay is no more than 100% of fixed
pay, where 171 Identified Staff received no variable pay at all.
The members of the supervisory board was paid 1.0 in cash,
in the form of a fixed fee. As the supervisory board receives
no variable pay this category Identified Staff is not included in
tables 61-64.
In 2015 no buy outs were awarded to Identified Staff. Severance
payments were agreed upon for 10 Identified Staff for the total
amount of EUR 3.1, with the highest being EUR 0.7.8 Identified
Staff earned a total remuneration (including pension
contributions) between EUR 1.0 and 1.5.
Jaarrekening Rabobank Groep Jaarrekening Rabobank
Table 62 discloses the actual payments to Identified Staff.
Distinction is made between the direct payments of the cash
based direct variable pay relating to 2015, and the amounts that
are payable from former years (i.e. direct instruments, relating
to 2014, that have been held for one year, the deferred cash
relating to 2012 that has been deferred for three years and the
deferred instruments relating to 2011 that have been deferred
forthree years and a holding period of one year).
Table 62: Actual payments to Identified Staff
(former) Executive Board
Retail, incl. RN
Wholesale
Leasing
Real Estate
from from
In thousands of euros1 2015 former years
from
2015
from
formeryears
from
2015
from
formeryears
from
2015
from
formeryears
from from
2015 formeryears
Cash based
81
271
5,302
2,865
744
748
150 39
Instruments - 230
836
9,644
1,332
329
Table 63 shows the amounts of malus (withdrawal of conditional amounts) and claw back (withdrawal of unconditional, but not yet
paid amounts) Rabobank applied to Identified Staff members in 2015.
Table 63: Malus and claw back
(former) Executive Board
Retail, incl. RN
Wholesale Leasing
Real Estate
In thousands of euros1 Malus Claw back
Malus Claw back
Malus Claw back Malus Claw back
Malus Claw back
Cash based
54 51
30
Instruments
56 54
33
Table 64 shows the outstanding deferred compensation for Identified Staff. Vested amounts are unconditional, but subject to
a holding period of one year. The unvested amounts are conditional, and may be subject to malus in the future.
Table 64: Total amount of outstanding deferred compensation for Identified Staff
(former) Executive Board
Retail, incl. RN
Wholesale
Leasing
Real Estate
In thousands of euros1 Vested Unvested
Vested Unvested
Vested Unvested
Vested Unvested
Vested
Unvested
Cash based - 5
438
74 15,250
1,975
195
Instruments - 6
418 486
8,899 13,242
1,694 2,113
199
198
Exceptions to the Group Remuneration Policy
The Supervisory Board has agreed to an arrangement for
employees in France, which applies in 2015 also to 2 Identified
Staff. The arrangement implies that a small part of their variable
pay is not subject to the Identified Staff deferral policy and paid
out in cash.
1 Calculations to EUR are based on the average exchange rates
Jan-Oct 2015.The DRN price is based on the average closing rates of
Rabobank Certificates of 1-5 February 2016 of 110.64% (EUR 27.66).
381 11. Remuneration
