Remuneration policy

1. Introduction

This policy applies to W.A. Hienfeld B.V. (hereinafter referred to as Hienfeld) and sets out the duties and responsibilities regarding remuneration.

1.1 Reflection of policy

The remuneration policy encourages behavior in line with our core values and corporate social responsibility. The long-term interest of customers is always central, and the remuneration policy should stimulate and support this.
The following matters serve as the basis for our compensation policy:

- We have a healthy balance between intrinsic motivation and setting clear goals, so that these can be assessed.

- The remuneration is market-based and aimed at attracting the right and competent people so that the client's interest can be well served.

- The policy does not lead to taking unacceptable risks.

- The policy encourages behaviors that align with our core values.

- We measure performance on both financial and non-financial goals.

- The policy applies to all our employees.

- The policy is in accordance with applicable laws and regulations and is evaluated periodically.

2. Employee engagement

The reward of employees can be divided into fixed and variable compensation. Within this, different forms of compensation are possible, which will always fall under one of these types of compensation. This classification is important because the ratio between fixed and variable compensation is subject to restrictions.

All decisions regarding employee compensation are made by management. In certain cases, management may also decide to deviate from the usual system as an exception, if there is reason to do so. This will then be documented.

2.2 Fixed remuneration

The basis of the fixed remuneration for employees is primarily a reflection of relevant work experience, the individual qualities of the employee, and the (organizational) responsibility that the respective employee has.
The fixed remuneration of employees is awarded based on:

- a predetermined profile;

- experience and seniority;

- transparency: the amount of the reward is clear in advance;

- irrevocability: the reward is fixed and can only be adjusted after approval from the respective employee and Hienfeld;

- Independence: the reward is not dependent on objectives.

At least once a year, the supervisor assesses how an employee has performed, among other things, in relation to previously made agreements. This assessment forms the basis for the question of whether an increase can be granted.

2.2.1 13th month and vacation allowance

In principle, Hienfeld provides its employees with a 13th-month payment. Additionally, we grant an annual holiday allowance amounting to 8.33% of the annual salary (excluding the 13th month).

2.2.2 Jubilee Celebration

From the employee, who has been in service for 12 1/2, 25, or 40 years based on an employment contract at Hienfeld, the anniversary is celebrated with a financial contribution.

2.3 Variable reward

Hienfeld does not have variable compensation in terms of bonuses or other forms of performance-related rewards for directors, management, or other roles. However, if it is determined that there has been extraordinary effort or performance by the employee, management can retrospectively nominate individual employees for an incidental reward under the title of a gratuity. It is ensured that these are in line with the established controlled remuneration policy and are not excessive.

Hienfeld indeed offers a net reimbursement of travel expenses in accordance with tax regulations based on the maximum amount allowed by the tax authorities. Additionally, there is also a reimbursement for working from home in accordance with tax regulations.

2.3.1 Allowances

Hienfeld does not add any additional allowances to employees other than:

- premium health insurance (gross reimbursement)

- premium-free pension

2.3.2 Departure Allowances

Hienfeld does not grant predetermined severance payments to employees. Any compensation in the event of dismissal must be determined based on applicable Dutch law.

2.3.3 Remuneration of the Board and Supervisory Board

The Supervisory Board determines the remuneration and further employment conditions of the management. The management's remuneration is determined annually. The Supervisory Board takes into account the achievement of objectives and agreements in the past period, the income level of comparable positions within the financial sector, and the relation to the remuneration policy of the (other) employees. The remuneration and further employment conditions of the management comply with relevant laws and regulations.

3. Publication

Through this publication, all stakeholders can take note of Hienfeld's remuneration policy. Pursuant to art. 1:120 FSA, it must be explicitly stated how many individuals working under its responsibility receive a total annual remuneration of €1 million or more and the total amount the company has paid out in variable remuneration. In the case of Hienfeld, neither applies.