Rodamco North America NV announces that the contracts with the members of the Management Board and Freeland were adapted in conformity with the ruling of the Enterprise Chamber dated 22 March 2002.
This adaptation amends the conditions under which termination payments are payable in case of a so called change in control in combination with resignation or retirement, as well as the conditions under which termination payments are repayable. In accordance with the ruling, these adaptations do not affect the amounts of the termination payments.
The Management Board and Supervisory Board do not concur with the ruling in any way and have therefore decided that the Company will file for appeal with the Supreme Court of the Netherlands.
(Source: RNA)
