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Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
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 as the
underlying principle of the allowance 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 severance payment levels, meaning Executive Board
members would receive a maximum of one year's salary.
Individual remuneration
In 2015, the remuneration of members and former members of
the Executive Board totalled EUR 6.3 (6.3) million. Five members
of the Executive Board received total remuneration, including
pension premium and contribution, above EUR 1 million.
Remuneration per member of the Executive Board
in thousands of euros
Total salaries
Pension
contributions
Individual pension
contribution
Redemption of
remuneration
component
Other
Total
W. Draijer
980
25
212
1
1,218
A. Bruggink
884
26
189
1
1,100
B.J. Marttin
884
26
189
1
1,100
R.J. Dekker
807
26
171
2
1,006
H. Nagel
807
26
171
1
1,005
J.L. van Nieuwenhuizen
779
25
165
969
Total 2015
5,141
154
1,097
6
6,398
Total 2014
4,993
1,302
4
6,299
Since the variable remuneration for members of the Executive
Board was discontinued in 2013, the number of DRNs granted
to members and former members of the Executive Board was
0 (0) for the performance year 2015. There were a total of 11,647
DRNs outstanding with members and former members of the
Executive Board at year-end 2015 (12,133). 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 secured by members of
the Executive Board in office as of 31 December 2015 and the
average interest rates were as follows:
Movements in the loans, advances and guarantees provided to
members of the Executive Board in office on 31 December 2015
were as follows:
Movements in loans, advances and guarantees of members of
the Executive Board
in millions of euros 2015 2014
Outstanding at beginning of year 4.9 3.4
Granted during the year 1.2
Repaid during the year (1.8) (1.1)
Decrease due to members leaving office - (0.2)
Increase due to new members joining - 2.8
Outstanding on 31 December 4.3 4.9
These transactions have been entered into on employee terms
and/or at market rates, which partly depend on the currency as
well as the agreed fixed-interest period and the time at which
the transaction was completed or the commencement of a new
fixed-interest period.
Loans per Executive Board member
in millions of euros
Outstanding
loans
Average interest
rate (in
R.J. Dekker
1.2
1.6
B.J. Marttin
0.4
4.4
H. Nagel
1.0
1.9
J.L. van Nieuwenhuizen
1.7
3.3
105 Remuneration
