Claw-back and revision of bonuses: new rules per 1 January 2014 (published 31 December 2013)
22 January 2014
Directors' bonuses can be revised if they are unreasonably high and can be clawed back if they are awarded on the basis of incorrect information. Furthermore, a new rule states that if the value of the shares held by directors increases as a result of a public offer, the difference in value will be deducted from their remuneration. Any such revision, claw-back or deduction, has to be reported in the explanatory notes to the annual accounts.
The attached client briefing elaborates on these new rules.
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