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Executive Directors' Remuneration in Comparative Corporate Perspective by Christoph Van der Elst

Executive Directors' Remuneration in Comparative Corporate Perspective

Edited by Christoph Van der Elst


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European Company Law Series Volume 11

‘Attitude’ looms large in any discussion of executive compensation. Yet here is a book that restricts its remit to what can actually be discovered about the corporate and contractual facts, figures, and rationales that determine how much a company director ‘earns’ in an increasingly complex system of executive remuneration that seems to be taking root worldwide. In a remarkably insightful collection of articles, legal scholars from ten different countries address the state of the art of executive service contracts in twelve different jurisdictions, as diverse as (on the one hand) the European Union, its central Member States and the United States, and (on the other) Iceland and Romania. Their analysis penetrates beyond the often vague regulatory framework to actual survey figures, consultants’ reports, and even data from a number of specific firms.

Notwithstanding all the efforts of regulators and scholars, concise and accurate information of the content of executive service contracts is still scarce. However, the contributors to this book synthesize what can be brought to light on such aspects of executive compensation, in the countries covered, as the following:

  • measures of base salary–total ‘package’ proportion;
  • long-term incentive and option schemes;
  • clawback scenarios;
  • what CEO employment contracts contain;
  • separation of powers between shareholders and the supervisory board;
  • disclosure requirements; and
  • ‘unfair and unreasonable’ bonuses.
In summary, this incomparable book provides the most thorough (diminished only by the subject’s pervasive lack of transparency) legal analysis of this extremely topical subject. Not only in its comparative method, but also in its wealth of specific detail on determinants of executive remuneration, it will recommend itself immeasurably to interested policymakers and academics worldwide.

Pages 400
Last Updated 06/18/2015
Update Frequency As Needed
Product Line Kluwer Law International
ISBN 9789041156075
SKU 10059118-0001
Table of Contents



List of Tables

List of Figures

Chapter 1 Remuneration of Top Executives and Service Contracts Christoph Van der Elst & Theo Raaijmakers

PART I The European Union Perspective on Executive Remuneration

Chapter 2 The European Remuneration Framework: Recent Policy Changes and Their Implications on Executive Remuneration Contracts Christoph Van der Elst & Marinka van Falier

Chapter 3 The EU’s Approach to Banks’ Executive Remuneration Tom Dijkhuizen

PART II The Common Law Approach of Executive Compensation

Chapter 4 The Contractual Structure of Executive Remuneration in the UK Carsten Gerner-Beuerle

Chapter 5 U.S. CEO Employment Agreements and Non-competition Provisions: A Literature Survey Randall S. Thomas & Norman D. Bishara

PART III The Civil Law Strategy of Executive Pay

Chapter 6 Rules and Practices of Executive Service Contracts in Belgium Christoph Van der Elst

Chapter 7 French Executive Remuneration Policies: New Transparency Requirements for French Executives’ Compensation Véronique Magnier

Chapter 8 Directors’ Remuneration in Germany Christoph Teichmann & Olga Gurman

Chapter 9 Directors’ Remuneration in Italy Matteo Solinas

Chapter 10 Executive Pay and Say-on-Pay in the Netherlands Anne Lafarre & Christoph Van der Elst

PART IV Alternative Views on Executive Benefits

Chapter 11 Executive Service Contracts: The Icelandic Perspective in Danish Contrast Stefan Thor Ingimarsson & David Orn Sveinbjornsson

Chapter 12 Legal Aspects of Executive Remuneration in Polish Listed Companies Arkadiusz Radwan & Tomasz Regucki

Chapter 13 Executive Directors’ Contracts and Remuneration in Romanian Company and Capital Market Law Radu N. Catana., Adrian C. Popa & Vlad Verdes