2009 - Jaarverslag

REPORT OF THE SUPERVISORY BOARD◾ The remuneration policy must conform to the company’s corporategovernance policy;◾ The remuneration must reflect the strategic and financialobjectives and be to a large extent performance-oriented, with agood balance between short and long-term results and objectives;◾ The remuneration must not include any incentives which give riseto behaviour directed towards personal interests that conflictswith the company’s interests;◾ It includes an annual scenario analysis with regard to the possibleoutcomes of the remuneration policy.Since the end of 2006, the posts of CEO and CFO of Royal Ten Catehave been based on Hay-level medians.In the case of the CEO, the median of Hay level 30 is applied.This level corresponds to an organisation of the size, complexity andinternational character of Royal Ten Cate. In view of the difference inremuneration between the salary then being paid and the median ofHay level 30, it was decided to make up the difference on a phasedbasis. The salary of Mr L. de Vries reached the intended level in 2009.An important consideration was ensuring the continuity of thecompany by, among other things, reinforced solvency, strong cashmanagement and an enormous reduction in the debt position.The variable remuneration component is a maximum of 50% of thefixed annual salary.In 2009, Mr de Vries received a variable salary component in respectof 2008 amounting to 50% of the fixed annual salary. He was alsogranted 60,000 options with an exercise price of € 11.70.For Mr J. Lock, the current CFO, the fixed annual salary is set atmedian of Hay level 26. The variable salary component is a maximumof 40% of the fixed salary.Mr J. Wegstapel, the CFO who departed during the 2009 financial year,received payment in respect of his notice period and compensationamounting to a full year of income, comprising his fixed annual salaryplus 25% as a variable pay component.The full report can be found on the website under CorporateGovernance/documents.The remuneration of the Executive Board is stated in note 56.2 onpage 136 of this report.Almelo, 3 March 2010Supervisory BoardJ.C.M. Hovers, ChairmanP.P.A.I. Deiters, Vice-ChairmanF.A. van VughtE. ten CateNew synthetic turf system with warranty conceptFC Breukelen is the first football club in the Netherlands with a new synthetic turf system with the TenCate PerformanceWarranty Concept . This guarantees that as far as its characteristics are concerned the pitch will satisfy FIFA 2 Star requirementsfor five years. The Breukelen field is based on the TenCate XQ technology. It allows us to construct fields that comply with theFIFA 2 Star requirements for a long time, the performance level FIFA defined for competitive football at the highest level. TenCatemarkets the five-year TenCate Performance Warranty Concept in collaboration with ALLIANZ, an insurance company.18Royal Ten Cate