IMC Annual Report 2018 - Page 16



6. REMUNERATION
REPORT
IMC rewards its employees through a fixed and variable remuneration package
in accordance with industry standards. The leading principle is a discretionary
profit-sharing remuneration that reflects and rewards the financial and
non-financial contributions of employees to the firm’s performance.
Key principles of IMC’s Global Remuneration Policy


The principles for variable
horizon is short, with no or hardly
Over the calendar year 2018, IMC
remuneration are described in
any overnight positions, while
paid total variable remuneration of
IMC’s Global Remuneration Policy.
potential risks reveal before the
€92,083,126 (2017: €125,157,656)
This policy reflects the relevant
end of a calendar year, prior to
to its employees. 13 employees
rules and regulations on sound
the determination and award of
within IMC were eligible for total
remuneration policies.
variable remuneration.
(fixed and variable) remuneration
exceeding €1 million (2017: 27).
Offices of IMC located outside
It is IMC’s view that, with these
the Netherlands may further
principles, it has implemented
2018 was awarded in 2016 and
specify the principles of the Global
a robust and effective
2017. As from 2019, selected
Remuneration Policy in their local
remuneration framework to
senior managers of the Group
employment contracts or internal
encourage employees to act
will invest a fixed percentage of
policies. These local specifications
responsibly and which allows
their variable remuneration in
will do justice to and respect the local
IMC to respond to significant
depository receipts for shares
state of affairs and will be leading in
changes in circumstances.
of IMC B.V.. These depository
relation to the local situation.
The IMC Global Remuneration
The principles of IMC’s Global
Policy is determined by the
Remuneration Policy reflect the
Management Board of IMC B.V.,
size, nature and risk profile of the
approved by its Supervisory
firm. IMC’s business scope is
Board and shared with DNB
limited to trading activities for its
and the AFM.
Variable remuneration paid in
receipts will be valued at fair value
Applicable to all employees


Payment is deferred in two
within the IMC Group of
of profit sharing: no variable
equal annual instalments
companies.
remuneration is awarded or
(above a certain threshold).
paid in the event that the IMC
Prior to the payment of
Group is not profitable.
the second instalment,
Variable remuneration is
of a discretionary nature.

It is based on the principle
Calculation of variable

awarded on a provisional
remuneration is based on
basis. IMC has the right to hold
IMC’s global financial results
back, defer, reduce or claw
on the one hand, and on the
back all or part of the variable
other the performance of
remuneration under certain
individual employees reviewed
IMC will reassess payment
conditions on the basis of
the financial situation of the
company and individual
entitlement of the employee
to the deferred payment.
circumstances.
by management according
to previously determined,
Variable remuneration is

In principle, there is no
clear and assessable criteria
guaranteed variable
(including integrity, adherence
remuneration. An exception
to risk management and
can be made for guaranteed
compliance related policies and
variable remuneration over the
compliance with applicable
first period of employment.
rules and regulations).
by means of a net income multiple
approach using a fixed multiplier
and have a minimum lock-up
period of three years.
own account and risk. IMC has no
clients and holds no client money
or deposits. Moreover, its trading
16
IMC Annual Report 2018
17

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