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New Legislation Concerning "Reasonable" Management Remuneration for German Stock Corporations -- August 2009
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November 25, 2009
Previously published on November 19, 2009
New legislation regarding "reasonable management remuneration in stock corporations" came into effect in August 2009. It includes significant changes to the granting of bonuses, D&O insurance coverage and the prerequisites for reducing contractually agreed remuneration -- nota bene including pension entitlements. In the following note, we outline the main issues introduced by the new legislation.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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