Database on German and European Economic Law

 Recommendation 2009/385/EC

I. Description

The structure of directors´ remuneration should promote the long term sustainability of the company and ensure that remuneration is based on  performance. Variable components of remuneration should therefore be linked to predetermined and measurable performance criteria, including  criteria of a non-financial nature. Limits should be set on the variable components of remuneration. Significant variable components of remuneration  should be deferred for a certain period, for example three to five years, subject to performance conditions. Further, companies should be able to reclaim variable components of remuneration that were paid on the basis of data, which proved to be manifestly misstated.

II. General Information

Title

Commission recommendation of 30 April 2009 complementing Recommendations 2004/913/EC and 2005/162/EC as regards the regime for the remuneration of directors of listed companies

Status
Existing
Recommendation
2009/385/EC
Source
O.J. EC No L (Legislation), Edition 120, Year 2009, p.28
Adoption
04/30/2009
Promulgation
05/15/2009
Character
Regular Act
Legal Basis
Art. 211 Gedankenstr. 2 EC
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Commission recommendation of 30 April 2009 complementing Recommendations 2004/913/EC and 2005/162/EC as regards the regime for the remuneration of directors of listed companies

  2009/385/EC

Beschluss:
04/30/2009 (A)
Verkuendung:
05/15/2009 (P)
(A) Adoption | (P) Promulgation

2. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Supplement
  Recommendation 2005/162/EC
Supplement
  Recommendation 2004/913/EC

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legal Impact