Claw-back mechanisms

A claw-back clause was introduced in 2014 for variable incentive systems, through which the Company, within the statute of limitations (ten years), can once again possess the sums provided if it is confirmed that that the achievement of the targets is attributable to the wilful misconduct or grossly negligent conduct or, in any event, in violation of the regulations. In 2015, the Remuneration Committee prepared a document that illustrates the process and the responsibilities associated with the activation of this clause. The Committee has ensured that this document has been circulated to all recipients of the incentive plans in connection with future incentive allocations or pledges.