Image courtesy of Vollherbst, specialists in producing labels with a difference for the wine, spirits, leisure and creative industries and a HYBRID Software customer. Hybrid Software Group PLC Annual Report 2022 62 63 Hybrid Software Group PLC Annual Report 2022 Hybrid Software Group Strategic report Governance Financial statements Other information Where remuneration is not determined by statutory regulation, the following key principles are applied: • to reward in a manner that allows for stability in the business and for sustainable long-term growth • to reward fairly and consistently for each role with due regard to peers, the economy, the marketplace and the technical skills required Service contracts It is the Group’s policy that executive directors should have contracts with an indefinite term. Non-executive directors are appointed for an initial six-year term, with provisions for extension, subject to mutual agreement. All directors offer themselves for annual re-election at each AGM in accordance with the UK Corporate Governance Code. Service agreements and letters of appointment are available for inspection at the registered office address of the Company. None of the directors are entitled to any specific indemnity which would be due or liable to be due on termination of their appointment. Date of contract Date of appointment Notice from the Company Notice from the director Unexpired term on 31 December 2021 Guido Van der Schueren 4 April 2017 16 May 2014 12 months 12 months - Michael Rottenborn 1 January 2020 2 January 2020 6 months 3 months - Joachim Van Hemelen 1 January 2021 1 September 2022 12 months 12 months - Clare Findlay 1 March 2019 1 March 2019 - - 38 months Luc De Vos 4 February 2021 15 February 2021 - - 62 months Application of the policy The table below shows the level of remuneration that would be received by the directors13 in accordance with the directors’ remuneration policy in the rst year to which the policy applies. Euro 000s Minimum performance Medium performance Maximum performance 2022 actual Guido Van der Schueren 520 620 720 546 Michael Rottenborn 283 396 508 358 Joachim Van Hemelen 14 257 357 457 122 Graeme Huttley 15 - - - 157 Clare Findlay 22 22 22 22 Luc De Vos 20 20 20 20 The scenarios have been illustrated for each executive director based on the following: Minimum performance • Base salary/fee increase by 5%, taxable benefits and pension • No bonus pay-out • No long term incentive plan Medium performance: • Base salary/fee increase by 5%, taxable benefits and pension • 50% bonus pay-out • 50% long term incentive plan Maximum performance: • Base salary/fee increase by 5%, taxable benefits and pension • 100% bonus pay-out • 100% long term incentive plan The report was approved by the board of directors on 11 April 2023 and signed on its behalf by: 13 including the chairman’s daughter and former CFO’s spouse, who are also employees of the Group. 14 appointed with effect from 1 September 2022 Clare Findlay, Chair of the Remuneration Committee
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