Remuneration Policies Sample Clauses

Remuneration Policies. The chairman must regularly evaluate and propose to the Board of Directors remuneration policies for members of the Board of Directors and Executive Management in the company. Furthermore, the chairmanship shall regularly evaluate and propose to the Board of Directors guidelines for incentive pay for members of the Board of Directors and Executive Management.
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Remuneration Policies. In light of the financial crisis of 2007, the issue of remuneration in the financial sectors, especially performance-based fees, drew the attention of both EU and US securities regulators. It was generally perceived that the financial crisis ‘revealed that the remuneration and incentive schemes commonly applied within financial institutions were themselves exacerbating the impact and scale of the crisis’ and that these schemes created ‘incentives for taking excessive risk’, which increases systemic risk.187 At the EU level, this has resulted in the adoption of a set of rules related to the remuneration of fund managers in UCITS V (which amended the original UCITS Directive)188 and the AIFM Directive. For the most part, UCITS V aligns with the AIFM Directive on remuneration requirements.189 Both directives provide restrictions on the use of variable remunera- tion (although still allowed), rules on remuneration policies for UCITS and AIFs, and disclosure rules relating to the remuneration paid by the management company and the carried interest paid by the UCITS or AIF. With respect to the remuneration restrictions, fixed and variable components (including carried interest) must be appropriately balanced, and the fixed component must represent a sufficiently high portion. Furthermore, for the variable components of remuneration, additional re- quirements apply, including the requirement that guaranteed variable remuneration may only occur when hiring new staff, and only for the first year. See for these and other remuneration rules, section 2.5. 183. Article 69 of the Commission Delegated Regulation on AIFMs. 184. Article 67(2) of the Commission Delegated Regulation on AIFMs. 185. Article 70(1) of the Commission Delegated Regulation on AIFMs.
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Related to Remuneration Policies

  • Vacation Policy Executive shall be entitled to four weeks of paid vacation during each calendar year of the Term, which such vacation shall accrue in accordance with Company policy.

  • Retention Policy City shall retain ten percent (10%) of the amount due for Required Services detailed on each invoice (the “holdback amount”). Upon City review and determination of Project Completion, the holdback amount will be issued to Consultant.

  • Competition Policy 1. The Parties recognize the importance of cooperation and technical assistance between their national competition authorities, including inter alia, the exchange of information and experiences, and the improvement of technical capacities in order to reinforce their competition policies. 2. In this sense, cooperation shall be conducted in accordance with their respective domestic laws and through their national competition authorities, who may sign a cooperation agreement.

  • Union Policy Grievance The Union may institute a grievance consisting of an allegation of a general misinterpretation or a violation by the Employer of this Agreement in writing at Step Number 2 of the grievance procedure, providing that it is presented within ten (10) working days after the circumstances giving rise to the grievance have originated or occurred. However, it is expressly understood that the provisions of this clause may not be used to institute a grievance directly affecting an employee or employees which such employee or employees could themselves initiate as an individual or group grievance and the regular grievance procedure shall not be thereby bypassed.

  • NO LEMON POLICY This Agreement provides that following the expiration of the term of the Covered Product’s manufacturer’s warranty, and subject to Our Limit of Liability, after three (3) service repairs have been completed for the Covered Product for the same problem, as determined in Our sole discretion, in lieu of performing a fourth (4th) repair on the Covered Product, We may replace it with a product of like kind or similar features, or issue a check to You in an amount not to exceed the remaining limit of liability as determined in accordance with the section titled “LIMIT OF LIABILITY.” If We replace the Covered Product, all Our obligations for the Covered Product under this Agreement terminate.