Jan Peter Schmittmann, 52, former leader of the Dutch operations of the ABN Amro bank, obtained, on December 30, 2008, an €8-million leave bonus. His employer, the second largest bank in the Netherlands, didn't want to give him more than €2.4 million, the amount of his annual salary, bonuses included. (Ref. 090005)
Jan Peter
Schmittmann declared that he could have asked for €18.2 million, by virtue of
the agreements signed with Fortis when ABN Amro was bought in October 2007. Indeed,
bonuses were agreed upon, with the consent of the Central Bank of the Netherlands
(DNB), to keep ABN Amro’s managers in position. Jan Peter Schmittmann explained
that he asked for less than half the amount he could have requested, because of
the credit crisis.
Application of the calculation of compensation for
ordinary wages.
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