In financial year 2019/20 which ended on March 31, 2020, Kapsch TrafficCom satisfied all of the conditions of the January 2018 version of the ACCG in terms of content with the following statements:
- C-Rule 27 – The Executive Board contracts that were concluded before 2020 do not contain a separate provision for reclaiming variable remuneration components. Due to the prevailing Austrian legal situation, the corporation may reclaim variable compensation components if it was paid on the basis of manifestly incorrect data. The Executive Board contract of Georg Kapsch valid as of April 1, 2020, is already in compliance with C-rule 27.
- C-Rule 27a – In the past, restrictions on severance payments could not be enforced on the relevant labor market. As a result, they were not regarded as expedient and are not found in the contracts of Executive Board members Laux and Escribá. The situation was reassessed for the preparation of the new remuneration policy for the Executive Board and Supervisory Board members. The Executive Board contract of Georg Kapsch valid as of April 1, 2020, is already in compliance with C-rule 27a.
The decision regarding these deviations was made by the Supervisory Board of Kapsch TrafficCom AG.
