(iii) The individual performance bonus must reflect an assessment of management`s individual performance in areas of activity for which management has a significant management responsibility. The Board of Directors identifies all specific financial and non-financial objectives on the basis of which management performance is assessed (in addition to the overall management performance described above) for the reference year, and the Board of Directors is informed of these specific objectives by the time it is informed of the annual EBITDA target for that reference year. The Board of Directors determines the amount of management`s individual performance bonus for each reference year, based on the extent to which management has, according to the Board`s accurate estimate, achieved the level of performance reasonably expected by the Board (this level, including specific targets for the reference year in question, if any, the annual performance target); provided that the individual performance bonus (x) 0 is when the manager reaches less than 90% of the annual performance target, (y) 25.00% of the base amount, if the executive reaches 100% of the annual performance target and (z) up to 37.50% of the base amount if the executive significantly exceeds the annual performance target. It is assumed that the company expects a high degree of commitment and performance from its executives, and management recognizes that the assessment of management`s performance is likely to depend on subjective judgments of the Board. The Executive agrees that the Board`s decision regarding management`s individual performance bonus is consistent for all purposes, provided this provision is made in good faith. In this section of the agreement, it is possible to define the tasks and responsibilities expected of the executive, but also to impose obligations to carry out “other tasks that are delegated from time to time” and to define, limit or limit the executive`s participation in external business and continuing education activities. (d) If the company has a board of directors overseeing the company`s business, the company encourages management to be a member. This agreement was drafted so that it could be used at the same time as the following ContractStore documents: Service Contract DesDirektor E106, Workers` contract (full-time/part-time) E101, E122 Staff Manual, various identity documents (including a voluntary opt-out clause under working time supervision) E121, e-mail/internet use policy E113 and a brief guide on labour law Z153. However, any document can be used “stand-alone” as long as it is ensured that there is no discrepancy between the relevant documents.
The important role and access to information enjoyed by executives means that the company should complement the executives` work agreement with non-compete agreements and confidentiality agreements.