9.2 Compensation or buyout from previous employment contract

The compensation for the buyout of a previous contract should be awarded only when the conditions defined in section 9.1 of these guidelines are met.

Remuneration should be considered as being granted as compensation or for the buyout of a previous contract where the deferred variable remuneration of the staff member was reduced or revoked by the previous employer because of the termination of the contract or where the staff member has to reimburse received payments (e.g. as part of an educational expense coverage agreement). For remuneration packages relating to compensation or buyout from contracts in previous employment, all requirements for variable remuneration and the provisions within these guidelines apply, including deferral, retention, pay-out in instruments and clawback arrangements.