Logitech 2014 Annual Report Download - page 157
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Current text Proposed Text Explanation
b) for any new hire other than the
CEO, one hundred and forty
percent (140%) of the highest
total annual compensation of any
member of the Management Team
other than the CEO.
Article 19 sexies
[No corresponding provision] Subject to Article 19 quarter,
paragraph 4, above, Members of
the Board of Directors and the
Management Team shall not receive
credits or loans from the Company or
from a company controlled by it.
Compensation paid to members of the
Board of Directors or Management
Team for activities in companies that
are controlled by the Company shall
be permitted. This compensation shall
be included in the total compensation
payable to the Board of Directors or
Management Team, as applicable,
which shall be subject to the approval
of the General Meeting.
ECLCO declares
any loan, credit or
retirement benefit
in favor of members
of the Board
of Directors or
Management Team
illegal unless they
are contemplated
in the company’s
Articles of
Incorporation.
Under ECLCO,
payment of
compensation to
members of the
Board of Directors or
Management Team
by group companies
is only permitted if
contemplated in the
company’s Articles
of Incorporation
and included in
the compensation
approved by
shareholders.
Pension contributions and benefits
shall be made or provided in
accordance with the regulations
applicable to the pension schemes in
which the Company or the companies
controlled by it participate in
Switzerland or abroad.
ENglISH
141