with regard to risk. Rabobank endorses these guiding principles. Rabobank pursues a prudent,
restrained and sustainable remuneration policy, which is in line with its strategy, chosen risk
profile, cooperative identity and core values. The remuneration policy is in keeping with a
customer-oriented approach and takes account of Rabobank's long-term interests, the
international context of the markets in which Rabobank operates, and acceptance by society.
The pay outcomes are balanced and the performance criteria do not encourage employees to
take irresponsible risks.
Group Remuneration Policy
As in previous years, Rabobank continued to pursue a prudent and restrained risk policy
in 2012, which is reflected in the bank's remuneration policy. To find out more about the
Group Remuneration Policy, please consult the section on employees elsewhere in this
Annual Report.
Severance pay
Members of the Executive Board appointed prior to 1 January 2010 receive severance pay
based on the subdistrict court formula in the event of their removal. This entitlement to
severance pay was laid down in agreements made previously with the relevant members of
the Executive Board and constitutes a departure from the relevant provision of the Banking
Code. As Rabobank has opted to comply with the provisions of the Banking Code, any
severance pay due to members of the Executive Board appointed after 1 January 2010 will be
governed by the relevant Banking Code principle.
95 Dutch Banking Code
