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Management agreement

For the main elements of the agreements with Mr. Iyer and Mr. Van Wijk, please read below.

Shankar Iyer

The main elements of the agreements with Mr. Iyer are based on the Remuneration Policy as approved by the extraordinary general meeting of shareholders held on 28 November 2019 and consist of the following:

  • Annual base salary of EUR 600,000 gross;
  • Annual on-target short-term variable opportunity of 60% of the annual base salary with a maximum opportunity of 100% of the annual base salary in accordance with the annual Management Board Short Term Incentive Scorecard;
  • Annual on-target award under the Performance Share Plan of 100% of the annual base salary with a maximum opportunity of 200% of target in the event that all of the pre-determined targets are met over a three-year performance period;
  • Maximum severance payment of an amount equal to annual base salary (excluding variable compensation components, compensation for costs and pension contributions payable by Intertrust);
  • An annual gross contribution of 25% of the annual base salary as pension allowance;
  • Housing allowance;
  • The agreements will further contain a claw back clause, a non-compete clause and a non-solicitation clause;
  • Various other benefits in line with Intertrust policies.

Rogier Van Van Wijk

The main elements of the agreement with Mr. Van Wijk are based on our Remuneration Policy as approved by the extraordinary general meeting of shareholders held on 28 November 2019 and consist of the following:

  • Annual base salary of EUR 350,000 gross;
  • Annual on-target short-term variable opportunity of 60% of the annual base salary with a maximum opportunity of 100% of the annual base salary in the event that all of the predetermined targets are met;
  • Annual on-target award under the PSP of 75% of the annual base salary with a maximum opportunity of 200% of target in the event that all of the pre-determined targets are met;
  • Pro-rated award under the 2019 PSP in the form of shares with a corresponding value of EUR 75,000;
  • Maximum severance payment of an amount equal to annual base salary (excluding variable compensation components, compensation for costs and pension contributions payable by Intertrust);
  • An annual gross contribution of 25% of the annual base salary into Mr. Van Wijk’s pension scheme;
  • The management agreement will further contain a claw back clause, a non-compete clause and a non-solicitation clause;
  • Various other benefits in line with Intertrust policies.