Change of control
In the event of a change of control our senior debt facility becomes immediately due and payable.
Also, in the event of a change of control the members of the Executive Board and a small group of senior executives are entitled to a severance payment in case their employment agreement would end following such change of control, their annual short-term incentive will be paid out on the fixed assumption of at least an ‘on-target’ performance and outstanding long-term incentive rights will vest.
Further information regarding the remuneration of the members of the Executive Board can be found on pages 78-80 of the Annual Report 2015.
There are no other agreements that come into existence or may be amended or terminated in the case of a change of control and whose effect could reasonably be expected to have a material adverse effect on Wessanen’s business, operations, property and condition (financial or otherwise).