Common use of Wrap up Clause in Contracts

Wrap up. The wrap up is the overall conclusion on the individual contribution, the conduct and the development of the employee. Each of the three topics must be discussed in the wrap up. The wrap up must be formulated carefully: it should reflect the relationship between performance and evaluation/remuneration. Once a year, the employee presents a proposal for the wrap up. The manager can add to and comment on the wrap up formulated by the employee. The wrap up must be finalized by the manager on January 31 at the latest, as part of which the manager awards a score to the employee’s performance. There are three possible scores for performance: • Exceptionally good year • Successful year • Improvement required In determining the score, the following is also weighed, in addition to the evaluation of general performance: • whether the long-term customer interest has been satisfied; • whether the Rabobank Code of Conduct has been complied with; • whether the employee is aware of potential risks and dilemmas that are connected with his performance, treats these conscientiously and thoroughly weighs up (commercial) goals versus risks; • feedback on the performance of the employee. Additional requirements apply to the documentation for certain groups of employees, including Identified Staff, monitoring positions and employees who are within the scope of the ▇▇▇▇▇▇ ▇▇▇▇. Those requirements are laid down in the Group Remuneration Policy. Among other things, this means that they are obliged to record annual objectives in advance and include in the wrap up the extent to which those objectives were achieved. Rabobank is a bank in a state of flux. Developments within the organization such as, for example, working in self-organizing teams and Agile working may prompt adjustments to GROW! Labor unions are helping to flesh out those developments. The parties to the CLA will jointly carry out a study which will examine the options for separating GROW! and the annual individual salary adjustment. The study will in any event include the following components: • What would GROW! be like without wrap up/assessment • What would be an appropriate remuneration methodology which is not connected to an assessment? • Examination of options where employees can be recognized and appreciated in a flexible way and at appropriate moments by colleagues and their manager, where possible taking account of the different groups of employees and their needs. Until 2013 arrangements were in place in the Rabobank CLA on variable remuneration. The employer can reclaim some or all of any variable remuneration paid from the employee (or former employee), if: • the information on the basis of which the award of the variable income was determined and the payment was effected was incorrect or misleading, and/or • the employee concerned acted fraudulently, and/or • the employee took part in or was responsible for conduct that led to substantial losses for Rabobank and/or damage to its reputation; and/or • the employee did not comply with suitable standards of competence and correct conduct.

Wrap up. The wrap up is the overall conclusion on the individual contribution, the conduct con- duct and the development of the employee. Each of the three topics must be discussed in the wrap up. The wrap up must be formulated carefully: it should reflect the relationship between performance and evaluation/remuneration. Once a year, the employee presents a proposal for the wrap up. The manager can add to and comment on the wrap up formulated by the employee. The wrap up must be finalized by the manager on January 31 at the latest, as part of which the manager awards a score to the employee’s performance. There are three possible scores for performance: • Exceptionally good year • Successful year • Improvement required In determining the score, the following is also weighed, in addition to the evaluation of general performance: • whether the long-term customer interest has been satisfied; • whether the Rabobank Code of Conduct has been complied with; • whether the employee is aware of potential risks and dilemmas that are connected with his performance, treats these conscientiously and thoroughly weighs up (commercial) goals versus risks; • feedback on the performance of the employee. Additional requirements apply to the documentation for certain groups of employees, including Identified Staff, monitoring positions and employees who are within the scope of the ▇▇▇▇▇▇ ▇▇▇▇. Those requirements are laid down in the Group Remuneration Policy. Among other things, this means that they are obliged to record annual objectives in advance and include in the wrap up the extent to which those objectives were achieved. Rabobank is a bank in a state of flux. Developments within the organization such as, for example, working in self-organizing teams and Agile working may prompt adjustments to GROW! Labor unions are helping to flesh out those developments. The parties to the CLA will jointly carry out a study which will examine examines the options for separating GROW! and the annual individual salary adjustment. The study will in any event include includes the following components: • What would GROW! be like without wrap up/assessment • What would be an appropriate remuneration methodology which is not connected to an assessment? • Examination of options where employees can be recognized and appreciated in a flexible way and at appropriate moments by colleagues and their manager, where possible taking account of the different groups of employees and their needs. Until 2013 arrangements were The parties to the CLA have agreed that it is important that this study be carried out in place in good time so that the Rabobank CLA on variable remunerationoptions for separating GROW! and the annual individual salary adjustment are explored before January 1 2023. The employer can reclaim some or all of any variable remuneration paid from the employee (or former employee), if: • the information on the basis of which the award results of the variable income was determined and study arrangement will be submitted to the payment was effected was incorrect or misleadingparties to the CLA so that implementation, and/or • the employee concerned acted fraudulentlyif any, and/or • the employee took part in or was responsible for conduct that led to substantial losses for Rabobank and/or damage to its reputation; and/or • the employee did not comply with suitable standards can take place as of competence and correct conductJanuary 1, 2024.