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Claw-back mechanisms

In 2014, in keeping with the 2014 Remuneration Report, a specific claw-back clause was introduced that applies to variable incentive systems. This clause reads as follows: “Subject to the right to compensation for any further damage, within the legally prescribed deadline, the Company may come back into possession (with the Participant’s resulting obligation to return the amount) of amounts already disbursed if it is determined that the achievement of objectives was due to malicious or grossly negligent conduct, or any actions carried out in violation of any applicable rules (whether corporate, legal, regulatory or from any other source) by the Participant, or if the above objectives were achieved on the basis of data that were later found to be patently false”. At this time, a procedure is being established (to be approved by the Board of Directors in 2015) that will specify the process and responsibilities connected with implementing this clause.

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