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Expense allowance
Members of the Executive Board are eligible for a fixed expense allowance to cover costs relating
to the performance of their duties. These costs cannot be claimed separately. The underlying
principle is that the amount of the expense allowance is based on customary practice in the
market for similar positions.
Severance payments
Rabobank complies with all existing laws and regulations concerning the level of severance
payments.
Individual remuneration
In 2014, the remuneration of members and former members of the Executive Board totalled
6.3 (5.8) million euro.
in thousands of euros
Total
salaries
Pension
contributions
Total
performance-
related payment
(discontinued in
2013)
Other
Total
W. Draijer (employment commenced on 1 July 2014)
490
137
1
628
M. Minderhoud (in office until 1 October2014)
739
739
A. Bruggink
885
277
1,162
B.J. Marttin
885
277
3
1,165
R.J. Dekker
723
226
949
H. Nagel
723
226
949
J.L. van Nieu wenhuizen (in office from 24 March 2014)
548
159
707
Total 2014
4,993
1,302
4
6,299
Total 2013
4,514
1,285
33
5,832
Mr Minderhoud stepped down from the Executive Board on 1 October. Remuneration for
Mr Minderhoud is included until 1 October. No termination compensation was paid.
Mr Draijer joined Rabobank on 1 July, and the Executive Board with effect from 1 October.
Six months' remuneration are included for Mr Draijer.
As the variable remuneration for members of the Executive Board was eliminated in 2013, the
number of DRNs awarded to members and former members of the Executive Board for the
performance year 2014 is 0 (O).The number of DRNs outstanding with members and former
members of the Executive Board at year-end 2014 is 12,133 (7,409). This total includes the DRNs
awarded to members and former members of the Executive Board in previous positions.
Loans per member of the Executive Board
The loans, advances and guarantees provided to members of the Executive Board in office on
31 December 2014 and the average interest rates were:
in millions of euros
Loans
outstanding
Average interest
rate (in
W. Draijer
A. Bruggink
B.J. Marttin
0.6
4.2
R.J. Dekker
1.3
2.7
H. Nagel
1.0
1.9
J.L. van Nieuwenhuizen
2.0
3.7
Annual Report 2014 Rabobank Group
