Remuneration

During the financial year in accordance with the decision of the AGM held on 20/03/2013, the chairman of the Board of Directors of VR-Group Ltd was paid fees of € 54,750, the vice chairman € 25,800 and ordinary members of the board € 22,800 for the year. In addition, the Board chairman and members are paid a fee of EUR 600 for each meeting. During the financial year, in accordance with the decision of the AGM, the chairman of the Supervisory Board was paid a fee of € 800 per meeting, the vice chairman € 600 and ordinary members € 500.
 
The total salary paid to the President and CEO of VR-Group Ltd in 2012 was € 528,600 and the bonus paid for 2012 was € 41,000. The President and CEO has a personal supplementary pension insurance paid by the employer (with an annual payment of € 9,604.50 in 2013), that includes life insurance in case of death.

The bonus scheme of the VR Group covers all personnel.

VR Group complies with current contract of employment legislation and other regulations when paying salaries and wages to employees. The personnel were not paid a performance related bonus in 2013.

On account of the good performance in 2013, a performance bonus provision for the management, personnel and experts and a profit bonus provision for the personnel and experts were entered in the results. The provision totalled EUR 10.8 million. The bonus scheme covers a total of 780 experts, supervisors and managers. The personnel fund has a total of 9,940 members.

Further information