Compensation Policy

Remuneration policy for employees Maesstad B.V.

The Remuneration Policy of Maesstad B.V. was adopted on July 1, 2021 and takes effect on July 1, 2021.

Purpose of remuneration policy

Our remuneration policy is primarily aimed at promoting, attracting and retaining well-qualified employees. All this within a controlled and sound business operation and focused on the long term. This means, among other things, that wherever possible we will prevent remuneration from encouraging employees to treat clients carelessly and to neglect our duty of care.

In addition, we want our remuneration policy to focus on the long-term interests of our customers and the company. The remuneration policy used should also have a healthy, stimulating effect.

Who does this compensation policy apply to?

The remuneration policy applies to all employees of Maesstad B.V., with the exception of freelance employees.

Principles of remuneration policy

The following guiding principles were used in formulating the remuneration policy:

• market-based in connection with attracting and retaining well-qualified personnel
• socially responsible / justified
• customer focus
• long-term goal
• transparent, simple
• comply with laws and regulations
• advisor provides appropriate advice at all times

Description reward

The following forms of remuneration occur within our company.

• Fixed salary. This remuneration is market-based. Salary depends on age, degree and relevant work experience, among other factors. There may be an annual salary increase.
• Annual 8% vacation allowance.
• Bonus payout. Annually there is the possibility of a bonus payment. This depends on the personal performance of the employee and the business results of Maesstad; the management decides on this.
• Travel Reimbursement. Employees receive travel reimbursement within the tax allowances.
• Expense reimbursement. A number of employees receive an expense allowance (job-related) for expenses incurred in the performance of their duties.
• Study Costs. For employees taking a course of study, which contributes to increasing knowledge within the office, full study costs will be reimbursed.
• Company car. If visiting clients is part of their job, some employees may be assigned a company car by management. Agreements on this are laid down in the employment contract.
• Participation in group pension plan.
• Tax-free allowances under the Work Expense Scheme; this is decided by the management.

Remuneration model company

Our company always acts in the best interest of the client and will provide appropriate advice, and advises and mediates completely independently and objectively. Our remuneration consists of the following options:

• commission-based remuneration (by provider)
• fee-based remuneration (by customer)
• Remuneration based on declaration of hours (by client)
• combination of the above reward methods

These forms of remuneration are made known/transparent to the client in our service guide/service documents. All rewards are reviewed against the principles of the standard that remuneration should not be manifestly unreasonable. The internal remuneration policy is in line with the earning model of the company.

Risk management

Our remuneration policy is at all times aimed at preventing careless treatment of clients. An improper/uncontrolled remuneration policy may affect our business with respect to:

• manageability of personnel costs
• careless treatment of customer interests
• staff turnover

Transparent remuneration policy

Our remuneration policy is transparent and is communicated on our website, among other things. In addition to stating how our services are rewarded, we also disclose how our employees are rewarded.

We provide insight into the relationship between remuneration policy and careful treatment of clients (client focus). Our internal remuneration model does not create incentives that could lead to irresponsible risk-taking and careless treatment of clients.

Compensation policy review

The remuneration policy is drawn up by the Management Board of Maesstad B.V.. Once every 5 years an evaluation of the remuneration policy used takes place and a risk analysis is carried out, in which the various aspects of the remuneration policy are examined, such as:

• Does the remuneration policy still meet the stated objectives and principles?
• Are there changes in laws and regulations that affect compensation policies?
• Are any employees eligible for salary increases? And what was that based on?
• When action items have been identified in the risk analysis, a written record of the measures to be taken and the deadline by which they must be completed is provided.

Management is responsible for conducting the evaluations and risk analyses of the internal remuneration model used with integrity and independence.

Variable remuneration

Maesstad B.V. is an all-round financial consulting firm, advising and mediating in non-life insurance, life insurance and pensions.

We adhere to the following core values in our corporate policies.

We advise our clients with integrity, solidity and customer focus. We put the interests of our clients first and adapt our services accordingly.

We strive to build long-term relationships with our clients, advising them financially in all facets of their personal and/or business lives. We want to help our clients achieve their financial goals, minimizing and preventing their financial risks as much as possible.

For our employees, we want to be an honest, solid and customer-oriented employer. Also in our business strategy, we want to minimize and avoid financial risks for our own company as much as possible. We want to offer our employees a transparent personnel policy that is consistently applied. We want to be an employer, of which our employees are proud.

We require our employees to act in accordance with our company policies.

Purpose Description

Maesstad B.V. uses variable compensation on top of the fixed gross monthly salary for its employees as an additional condition of employment.

With this variable pay, we want to:

• Encourage our employees to exhibit behaviors consistent with our corporate policies and;
• Commit valuable employees to our company.
• We consider the following conduct to be consistent with our company policy:
• Integrity, sound and customer-oriented advice, putting the client's interests first;
• Strive for long-term relationships with customers, avoiding as much as possible termination for dissatisfaction with price, terms and/or our service;
• Preventing and mitigating financial risks in our clients and for our own business.
• We consider the following behavior to be inconsistent with our company policy:
• Recommending too high an amount of insurance, too high a premium or too long a duration, which are not in the best interest of the client;
• Advising poor or risky products, incurring excessive costs or not going through the advisory process carefully, causing image damage to our company or jeopardizing continuity;
• The closing of as many products as possible or a strong preference for a particular product or insurer, where the interests of the customer are not or not sufficiently considered.

Our employees are regularly assessed and directed on this behavior.

Principles

The following principles were considered in the design of the variable compensation scheme:

• It supports our corporate policies and core values;
• The regulation is in line with the legal rules on controlled remuneration policies in the financial sector.

Scope

Depending on the position and assessment, employees may receive variable remuneration that represents up to 20% of their fixed income. At least 50% of the variable remuneration is based on qualitative objectives that serve the customer interest.

We regularly assess and direct our employees to act with integrity, soundness and customer focus. This assessment determines the amount of the fixed salary and the amount of the variable remuneration.

Maeshave Assuradeuren, is a Rotterdam-based proxy company, acting on behalf of several leading insurers. Maeshave Assuradeuren can accept insurance for the account and risk of these company(ies), sign the policies for them and settle and compensate for any damage. The affiliation with our proxy company, Maeshave Assuradeuren , gives us the extra handles to offer you extra quality in our overall service. You can read more about these activities and cooperation on the website of www.maeshave.nl.