Compensation paid to members of the Board of Directors comprises a base salary determined by their function within this corporate body. The directors may also be awarded shares but they are not contractually entitled thereto; a decision whether to award shares will be made each year. Any shares awarded will be subject to a vesting period of generally four years. Compensation paid to members of the Group Executive Board consists of a base salary and a variable bonus which is determined each year in the form of a one-time payment. The one-time payment can be used to purchase Bellevue Group shares at a reduced price, in which case the shares will be subject to a vesting period of generally four years. Individual bonuses are based on an evaluation of performance as measured against the objectives, goals and expectations defined for each year. The Board of Directors is responsible for determining the compensation paid to Executive Board members. All of the employment contracts of employees of the Bellevue Group are basically subject to a notice period of no more than six months.