Executive Committee members receive no additional compensation when invited to the Board. The Directors’ mandate may be terminated ad nutum (at any time) without any form of compensation. There are no employment or service agreements that provide for notice periods or indemnities between the Company and the members of the Board of Directors who are not a member of the Executive Committee. In respect of the members of the Board of Directors who are a member of the Executive Committee, reference is made to the section Executive Committee below. Remuneration policy applied during 2015 During 2015 Ablynx obtained salary market data for the members of the Board via its own research. The fixed annual remuneration of the Chairman of the Board is €100,000. No additional remuneration is foreseen for membership of other Board committees. The fixed annual remuneration of independent Directors as part of their membership of the Board of Directors is €30,000, and the additional fixed annual remuneration of the Chairman of the Nomination and Remuneration Committee, the Chairman of the Audit Committee and the Chairman of the Research and Development Committee is €10,000. For other independent non-executive Directors the additional fixed remuneration related to the membership of the Nomination and Remuneration Committee, the Audit Committee or the Research and Development Committee remains at €5,000 per committee.
ANNUAL REPORT 2015 / ABLYNX
89.
CORPORATE GOVERNANCE AND FINANCIAL INFORMATION