Deutsche Bank will clawback about $45 million worth of bonuses from 11 executives who had served the bank during the financial crisis and afterwards to make amends for past misdeeds by the bank. It’s the first time that executives of a major European bank have collectively agreed to forego outstanding bonus allocations. The 10 former and 1 current management board member will instead receive bonuses totaling around $37 million.

While the bank did not identify the executives, sources said they include, the following: former CEOs Anshu Jain, Juergen Fitschen and Josef Ackermann; former board members Stephan Leithner, Rainer Neske, Henry Ritchotte, Stefan Krause, Hugo Baenziger; and, current board member Stuart Lewis.

Deutsche Bank said the executives "always administered their office with due care and that they cannot be accused of any breach of duty." The executives agreed voluntarily to waive the payments "as an act of solidarity with Deutsche Bank", the bank said.