Home Banking Supervisory Board secures its claims for repayment against Prof. Dr. Dirk Jens Nonnenmacher in the event of a conviction

Supervisory Board secures its claims for repayment against Prof. Dr. Dirk Jens Nonnenmacher in the event of a conviction

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HAMBURG/KIEL The Supervisory Board of HSH Nordbank today approved an amendment to the Termination Agreement concluded with Prof. Dr. Dirk Jens Nonnenmacher on 15 December 2010.

According to this agreement, Prof. Dr. Dirk Jens Nonnenmacher must reimburse the payments received under his Termination Agreement including interest to the Bank if in the context of the criminal investigation being conducted by the public prosecutor in Kiel he were to be convicted for casting false suspicion or of criminal breach of trust in connection with the severance of Frank Roth, the former member of the Bank’s Manage-ment Board. The Supervisory Board is entitled to demand reimbursement at the latest up to one month after learning of such a conviction.
“With this agreement, the Bank has achieved to fully and sustainably safeguard its inter-ests, ” said Hilmar Kopper, Chairman of the Supervisory Board of HSH Nordbank.

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