Chrysler 2013 Annual Report Download - page 360

359
Auditors’ Reports and
Motions for AGM
K. Time restrictions
The LTI Plan does not provide for any lock-up mechanism after the shares are granted to the beneficiaries. Trading of such shares is subject
to the applicable laws and regulations. The rights granted under the LTI Plan will be non-transferable (except, once vested, in the event of
death of the beneficiary).
L. Cessation of office or termination of employment
The Board of Directors may also grant Executive Directors with specific functions with an allowance in the event of resignation or termination
(regarding allowances granted in the previous years, please refer to Section II, Part I, (v) of this Report).
For Executives with Strategic Responsibilities post termination treatment consists in the relevant termination indemnity accruals set aside per
collective bargaining agreements. Furthermore, in the case of dismissal under mutual agreement, the Group collective bargaining agreement
in Italy provides pre-defined and nondiscretionary severance benefits for Executives covered by that agreement. Executives with Strategic
Responsibilities whose professional relation with the Group is not governed by such collective bargaining agreement are covered by Group
defined nondiscretionary severance programs.
Furthermore, the Company may enter into non-competition agreements with its members of the Board of Directors and Executives with
Strategic Responsibilities and for specific and relevant professional roles of senior managers and executives, providing for payment of a
fee in relation to the term and scope of the obligation resulting from the agreement itself. The obligation is referred to the industry in which
the employer operates in at the time of the agreement and to its geographical scope. The scope of the obligation varies according to the
individual’s role at the time of execution of the agreement.
M. Insurance, social security or pension coverage
The Board of Directors may also grant Executive Directors, with specific functions, with insurance policies covering accidental death,
permanent disability and life insurance as well as with supplementary pension benefits.
N. Other information
Please refer to Paragraph E.1 above.
O. Reference to the compensation policy adopted by other Companies
The determination of compensation levels is based on continuous monitoring of levels for the market in general and for the sector, including
benchmarking against groups of a comparable size, complexity and standing.”
27 February 2014
On behalf of the Board of Directors
/s/ John Elkann
John Elkann
CHAIRMAN