Common use of Pay Guarantee Clause in Contracts

Pay Guarantee. In addition, your annual base salary for each of 1999, 2000 and 2001 will not be less than $350,000 and your annual bonus will not be less than $7,150,000 ("Annual Bonus"). At least 70% of your Annual Bonus will be paid to you as current cash compensation. The remainder may be paid to you as a performance incentive in or based on the value of Deutsche Bank common stock. The initial value of that stock will be equal to the remaining amount of the Annual Bonus (the "Initial Value"). This portion of the Annual Bonus for each year will be paid and vested as follows: (i) 1999 - in three equal parts on each of the first, second and third anniversaries of the Merger, (ii) 2000 - in two equal parts on each of the second and third anniversaries of the Merger, and (iii) 2001 - in full on the third anniversary of the Merger. The amount of the bonus will fluctuate, based on the value of the stock, provided that the value at the time that the bonus is paid to you will not be less than 75% of its Initial Value on a U.S. dollar basis. Any 1999 pro rata bonus paid to you for the period prior to the Merger will count towards this guarantee. If you have a Qualifying Termination after the closing of the Merger and prior to December 31, 2001, then you will be paid in cash within five business days of the termination any unpaid compensation for the remainder of the guarantee period at the guaranteed level (whether or not originally payable in cash or stock) as if you had continued your employment through the end of such period. Any deferred bonus for a year prior to the year of termination will also vest and be paid, based on the value of Deutsche Bank stock, as described and subject to the 75% floor set forth above, whether such Qualifying Termination occurs before or after December 31, 2001.

Pay Guarantee. In addition, your annual base salary for each of 1999, 2000 and 2001 will not be less than $350,000 and your annual bonus will not be less than $7,150,000 3,650,000 ("Annual Bonus"). At least 70% of your Annual Bonus will be paid to you as current cash compensation. The remainder may be paid to you as a performance incentive in or based on the value of Deutsche Bank common stock. The initial value of that stock will be equal to the remaining amount of the Annual Bonus (the "Initial Value"). This portion of the Annual Bonus for each year will be paid and vested as follows: (i) 1999 - in three equal parts on each of the first, second and third anniversaries of the Merger, (ii) 2000 - in two equal parts on each of the second and third anniversaries of the Merger, and (iii) 2001 - in full on the third anniversary of the Merger. The amount of the bonus will fluctuate, based on the value of the stock, provided that the value at the time that the bonus is paid to you will not be less than 75% of its Initial Value on a U.S. dollar basis. Any 1999 pro rata bonus paid to you for the period prior to the Merger will count towards this guarantee. If you have a Qualifying Termination after the closing of the Merger and prior to December 31, 2001, then you will be paid in cash within five business days of the termination any unpaid compensation for the remainder of the guarantee period at the guaranteed level (whether or not originally payable in cash or stock) as if you had continued your employment through the end of such period. Any deferred bonus for a year prior to the year of termination will also vest and be paid, based on the value of Deutsche Bank stock, as described and subject to the 75% floor set forth above, whether such Qualifying Termination occurs before or after December 31, 2001.

Pay Guarantee. In addition, your annual base salary for each of 1999, 2000 and 2001 will not be less than $350,000 and your annual bonus will not be less than $7,150,000 4,150,000 ("Annual Bonus"). At least 70% of your Annual Bonus will be paid to you as current cash compensation. The remainder may be paid to you as a performance incentive in or based on the value of Deutsche Bank common stock. The initial value of that stock will be equal to the remaining amount of the Annual Bonus (the "Initial Value"). This portion of the Annual Bonus for each year will be paid and vested as follows: (i) 1999 - in three equal parts on each of the first, second and third anniversaries of the Merger, (ii) 2000 - in two equal parts on each of the second and third anniversaries of the Merger, and (iii) 2001 - in full on the third anniversary of the Merger. The amount of the bonus will fluctuate, based on the value of the stock, provided that the value at the time that the bonus is paid to you will not be less than 75% of its Initial Value on a U.S. dollar basis. Any 1999 pro rata bonus paid to you for the period prior to the Merger will count towards this guarantee. If you have a Qualifying Termination after the closing of the Merger and prior to December 31, 2001, then you will be paid in cash within five business days of the termination any unpaid compensation for the remainder of the guarantee period at the guaranteed level (whether or not originally payable in cash or stock) as if you had continued your employment through the end of such period. Any deferred bonus for a year prior to the year of termination will also vest and be paid, based on the value of Deutsche Bank stock, as described and subject to the 75% floor set forth above, whether such Qualifying Termination occurs before or after December 31, 2001.