DHL 2015 Annual Report Download - page 53
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Deutsche Post Group — Annual Report
In the event of a change in control, any member of the Board of Management is
entitled to resign their oce for good cause within a period of six months following the
change in control aer giving three months’ notice at the end of a given month, and to
terminate their Board of Management contract (right to early termination). If the right
to early termination is exercised or a Board of Management contract is terminated by
mutual consent within nine months of the change in control, the Board of Management
member is entitled to payment to compensate the remaining term of their Board of
Management contract. Such payment is limited to the cap pursuant to the recommen-
dation of No. .. of the German Corporate Governance Code, subject to the speci-
cations outlined in the remuneration report. With respect to options from the Long-
Term Incentive Plan, the Board of Management member will be treated as if the waiting
period for all options had already expired upon cessation of the Board of Management
contract. e options eligible for exercise may then be exercised within six months of
cessation of the contract. With regard to the Share Matching Scheme for executives, the
holding period for the shares will become invalid with immediate eect in the event of
a change in control of the company. e participating executives will receive the total
number of matching shares corresponding to their investment in due course. In such
case, the employer will be responsible for any tax disadvantages resulting from reduction
of the holding period. Exempt from this are taxes normally incurred aer the holding
period.
Remuneration of the Board of Management
andthe Supervisory Board
e basic features of the remuneration system for the Board of Management and the
Supervisory Board are described in the Corporate Governance Report under
Remuneration
report. e latter also forms part of the Group Management Report.
Research and development
As a service provider, the Group does not engage in research and development activities
in the narrower sense and therefore has no signicant expenses to report in this con-
nection.
Corporate Governance, page ff.
43
Group Management Report — GENERAL INFORMATION — Disclosures required by takeover law — Remuneration
of the Board of Management andthe Supervisory Board — Research and development