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DKSH Annual Report 2023 41For the year 2023, the members of the Executive Committee received the following compensation:in CHF thousands Stefan P. Butz CEO1Other 12 members of the Executive Committee Total2Fixed Compensation 1,000 3,676 4,676 Annual Variable Pay (AVP) %u2013 Cash3 1,112 2,331 3,443 Value of performance share units at grant (LTIP) 1,250 2,835 4,085 Allowances 120 1,215 1,335 Pension/Social security contribution4 337 637 974 Total 3,819 10,694 14,513 1 Highest individual total compensation in 2023.2 All amounts are gross amounts (i.e., before deduction of social security and income tax due by the executives). They include the remuneration paid to Terry Seremetis (01.01.%u201330.06.2023), Chris Ritchie (17.08.%u201331.12.2023) and Martin Frech (01.01.%u201331.12.2023).3 On February 15, 2024, the Board of Directors approved a change in the performance measurement of the 2023 AVP by not considering the costs of the discontinuation of the non-profitable and non-core fashion retail business in 2023. These adjustments resulted in an additional AVP payment to members of the Executive Committee in the total amount of CHF 96,872, which is included in this table.4 In compliance with law, mandatory employer social security contributions of CHF 18,900, which provide a right to the maximum future insured government benefit, are included. The total mandatory amount paid by the Company or its affiliates to Swiss governmental social security systems is CHF 390,900.For the year 2022, the members of the Executive Committee received the following compensation:in CHF thousands Stefan P. Butz CEO1Other 12 members of the Executive Committee Total2Fixed Compensation 1,000 3,939 4,939 Annual Variable Pay (AVP) %u2013 Cash3 1,206 3,002 4,208 Value of performance share units at grant (LTIP) 1,250 3,045 4,295 Allowances 114 1,460 1,574 Pension/Social security contribution4 316 550 866 Total 3,886 11,996 15,882 1 Highest individual total compensation in 2022.2 All amounts are gross amounts (i.e., before deduction of social security and income tax due by the executives). They include the remuneration paid to Sam Oh (04.03.%u201331.12.2022) and Dan Culverhouse (01.01.%u201331.08.2022). 3 The Board of Directors decided to adjust the 2021 Profit after tax (PAT) result for certain one-off items when setting the 2022 PAT objectives of the CEO and of the CFO. The 2022 target amount of such PAT objectives was thus set at CHF 194.1 million, which excludes the impact of the gain on sale to aCommerce (CHF 10.3 million), a CHF 34.8 million revaluation gain in aCommerce, and a non-recurring share of loss in associate (CHF %u20139.1 million).4 In compliance with the Ordinance, mandatory employer social security contributions of CHF 18,500, which provide a right to the maximum future insured government benefit, are included. The total mandatory amount paid by the Company or its affiliates to Swiss governmental social security systems is CHF 430,500.Compensation to Former Members of the Board of Directors and the Executive CommitteeDuring 2023, no compensation has been paid to either former members of the Board of Directors or former members of the Executive Committee.