Reebok 2014 Annual Report Download - page 28

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24
2014
/
01.5
/
Corporate Governance Report including the Declaration on Corporate Governance
To Our Shareholders
adidas Group
/
2014 Annual Report
The Executive Board and Supervisory Board of adidas AG issued their last Declaration of Compliance pursuant to § 161 AktG
on February 13, 2014. For the period from the publication of the last Declaration of Compliance up to September 30, 2014, the
following Declaration refers to the German Corporate Governance Code (hereinafter referred to as the ’Code’) as amended
on May 13, 2013. For the period as of October 1, 2014, the following Declaration refers to the recommendations of the Code
as amended on June 24, 2014, which was published in the Federal Gazette on September 30, 2014.
The Executive Board and Supervisory Board of adidas AG declare that the recommendations of the ‘Government Commission
on the German Corporate Governance Code’ have been and are met with the following deviations:
Capping overall compensation and variable compensation components
(section 4.2.3 subsection 2 sentence 6)
We follow the recommendations of the Code in all contracts that have been newly concluded or extended since the issuance
of the last Declaration of Compliance, and we intend to follow the recommendations in the future as well when contracts are
extended or newly concluded. The company cannot, however, unilaterally interfere with existing contracts, nor would such
interference be in line with the principle of contractual fidelity.
Agreeing severance payment caps when concluding Executive Board service contracts
(section 4.2.3 subsection 4)
We believe that for contracts with a term of up to three years the short contractual term agreed in connection with further
contractual provisions offers sufficient protection from inappropriate severance payments. Nevertheless, we have agreed on
a severance cap in accordance with the recommendations of the Code for all contracts that have been newly concluded or
extended since the issuance of the last Declaration of Compliance, and we intend to follow the recommendation in the future
as well when contracts are extended or newly concluded.
Disclosure of shares held by the individual members of the Executive Board and Supervisory Board or
financial instruments related thereto (section 6.3 sentence 1)
In the past, we have not reported the ownership of shares or related financial instruments on an individual basis for the
members of the Boards if such ownership exceeded 1% of the shares issued by adidas AG. Henceforth, we will observe this
recommendation of the Code and report accordingly in the Corporate Governance Report.
Herzogenaurach, February 12, 2015
The aforementioned Declaration of Compliance dated February 12, 2015 has been published under and can be downloaded
at www.adidas-Group.com/s/corporate-governance.
Declaration by the Executive Board and Supervisory Board of adidas AG
pursuant to § 161 German Stock Corporation Act (Aktiengesetz – AktG)
on the German Corporate Governance Code
For the Executive Board
HERBERT HAINER
Chief Executive Officer
For the Supervisory Board
IGOR LANDAU
Chairman of the Supervisory Board