Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
from the specific performance management requirements, for
Identified Staff receiving variable pay specific risk mitigating
measures are in place.This includes the division of the variable
pay in a cash part and an instruments part and the deferral
policy of three years. For those employees qualified as'Senior
management', the deferral policy stretches to five years. Also for
employees receiving variable pay above a certain amount, but
not being Identified Staff, a deferral policy applies in order to
allow the ex post test to be performed.
Supervisory Board
Reimbursement packages of the members of the supervisory
board were revised in 2016 to be in line with the vision on
reward and remuneration and cross-industry benchmark data
for similar positions. In 2017 no changes were made, so the
reimbursement packages were as follows:
Asofl October 2016 the fee structure
in euros
Member
Chairman of Audit Committee, Risk Committee, Cooperative
Issues Committee, additional
Chairman of Appointments Committee together with
HR Committee, additional
Vice chairman, additional
Chairman
Fee
90,000
20,000
20,000
30,000
220,000
Individual reimbursements
The individual reimbursements in 2017 for members of the
supervisory boards are shown below:
In thousands of euros
Remuneration
Irene Asscher-Vonk
90
Leo Degle
90
Leo Graafsma
110
Ron Teerlink
220
Arian Kamp
110
Marja n T rom petter
140
Pascal Visée
90
Petri Hofsté
90
Jan Nooitgedagt
110
Total 2017
1,050
Total 2016
975
individual loans and certificates
The outstanding loans of the members of the Supervisory Board
in office on 31 December 2017 and the average interest rates
were as follows:
Outstanding
Average interest
in millions of euros
loans
rate (in
On 31 December 2017
Arian Kamp
1.4
2.0
Marja n Trom petter
0.4
2.1
Outstanding
Average interest
in millions of euros
loans
rate (in
On 31 December 2016
Arian Kamp
0.9
2.6
Marjan Trompetter
0.4
4.0
At year-end 2017, the members of the Supervisory Board not
listed in the table had not received any loans, advances or
guarantees.
Several members of the Supervisory Board have invested in
Rabobank Certificates in person and/or through their own
pension B.V.. On 31 December 2017, the number of Rabobank
Certificates per individual member were as follows:
Certificates of members of the Supervisory Board
On 31 December 2017
Irene Asscher-Vonk
Leo Degle
Leo Graafsma
Num ber of Ra bo bank
Certificates
6,894
4,836
4,050
Remarks
in pension B.V.
in pension B.V.
Managing Board
With the change from the Executive Board of seven members to
the Managing Board often members, the remuneration policy,
including individual remuneration packages, were reviewed and
supported by an external benchmark (with a cross-industry and
financial peer group). The remuneration policy for the Managing
Board was approved by the General Members Council.
The Managing Board Remuneration Policy adds to the HR
mission by focusing on contribution and leadership, by putting
emphasis on offering a remuneration proposal within the salary
range that matches with the market based position reference
point of their role and also matches their personal leadership
profile to the desired leadership profile. Managing Board
members are appointed fora period of four years, and for that
same period, the individual remuneration is determined. There
is no entitlement to variable pay for Managing Board members.
Regularly, the positions within the Managing Board will be
benchmarked and salary ranges might be adjusted based on
the outcomes. For the installation of the Managing Board, this
benchmark was done in the first half of 2017. This benchmark
was done with approximately the same peer group as the
previous benchmark for the Executive Board, consisting of a
cross-industry and a financial peer group. Outcome was that the
remuneration packages of the former Executive Board members
were already below the median of the market, and the new
salary ranges are in line with that, again set no higher than the
median of the market. For the former Executive Board members
no indexation of the salaries was executed. For deciding upon
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