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Remuneration The Remuneration Committee has drawn up a remuneration policy proposal for non executive directors, the Managing Director and members of the Executive and Management Committees. This remuneration policy will be included in the company's uide to Corporate Governance. The Board of Directors shall consider and decide on the proposal made to it by the Remuneration Committee relating to the proposal for the remuneration of directors submitted to the General Meeting, and shall itself take the decision relating to the remuneration of the Managing Director and Executive Committee members. Apart from a fixed sum, the total remuneration of the Managing Director and Executive Committee members will include a variable part related to the Deceuninck Group's results and individual work. The annual bonus and number of shares granted will depend on the company's profits and potential for long-term growth. Existing plans relating to the granting of stock options in the company have always been approved by the Board of Directors, applying article 523 of theCompanies Code where appropriate. In future, Deceuninck NV will follow the recommendation in the Belgian Code on Corporate Governance by having these plans approved by an Extraordinary General Meeting. In 2004, total remuneration paid to the Board of Directors and the Executive Committee amounted to 1.95 million euros. |