Modul 2 - JUC

EKSEMPEL
The Parties shall procure that the Company shall have a capital structure where the Net
Interest Bearing Debt shall be between two (2) and three (3) times the Group EBITA for the
preceding twelve (12) months at the end of each Financial Year ("Agreed Capital Structure
Ratio")..
Subject to the adjustments in Clause [*] and to compliance with applicable laws, the
Parties shall take all steps to ensure that in respect of each Financial Year, the Company
distributes at least sixty-six-point-six (66.6) per cent (or such other percentages as the
Parties may agree from time to time in writing) of the Group's consolidated net income
after tax, adjusted for Extraordinary Items (the "Dividend Policy").
The Dividend Policy shall be adjusted meaning that dividend shall (i) be changed to take
into effect any changes to the Agreed Capital Structure Ratio (as decided from time to time
by the Supervisory Board as a Qualified Matter), (ii) be reduced if the Company has entered
into transactions which have (a) been approved by both Parties (unless conflicted) and (b)
caused or will cause the Capital Structure Ratio to exceed the Agreed Capital Structure
Ratio projected at the year-end or (iii) be increased by any amount by which the Capital
Structure Ratio is less than the Agreed Capital Structure Ratio.