Ubisoft 2012 Annual Report Download - page 128

Financial Statements
2012
123
1.6.9.2 RELATED PARTY TRANSACTIONS
COMPENSATION OF MANAGERS OF THE COMPANY AND OF THE CONTROLLING AND/OR
CONTROLLED COMPANIES
Senior management essentially comprises the corporate officers.
Messrs. Guillemot are remunerated for their positions as CEO and Executive Vice Presidents. This is
fixed compensation and they do not have employment contracts.
The amount of the total gross compensation paid to executives during the year by the Company,
companies controlled by the Company and the companies controlling those in which they perform their
duties, according to IAS 24.16, was €729 thousand.
During the 2011/2012 financial year, members of the Board of Directors received €180 thousand in
directors’ fees.
No commitments have been made by the Company in favor of its corporate officers relating to their
termination or change in responsibilities.
There are no agreements to compensate Board members if they resign or are dismissed without real
cause, or if their employment is terminated due to a public offering.
03/31/12
03/31/11
Short-term benefits (1)
904
998
Post-employment benefits
N/A
N/A
Other long-term benefits
N/A
N/A
Compensation for termination of employment contract
N/A
N/A
Share-based payments (2)
346
524
TOTAL
1,250
1,522
N/A: not applicable
Includes fixed compensation, benefits in kind and directors’ fees recognized for the financial year
This is the expense for the financial year for share-based payments calculated in accordance with IFRS2. No performance
shares were granted to the corporate officers of the Company
Section 4.5 of the Management Report contains a detailed description of the pay and benefits granted
to the corporate officers of the Group.
In accordance with Article L.225-43 of the French Commercial Code, no loans or advances were
made to the Company’s directors.
RELATED PARTY TRANSACTIONS
The main relationships of the parent company with its subsidiaries relate to:
- Production subsidiaries billing the parent company for development costs based on the
progress of their projects;
- The parent company invoicing distribution subsidiaries for a contribution to development costs;
- The implementation of cash agreements allowing for centralized management at parent
company level of the bank accounts of the majority of the Group companies.
The other significant related party transactions are:
- Licenses invoiced to Gameloft SA for €1,504 thousand over the financial year. The receivable
balance at year-end is €75 thousand;
- The amounts paid in respect of development contracts with AMA Studios SA and Longtail
Studios Inc. totaling €3,125 thousand. The payable balance at year-end is €1,695 thousand.
The amount of the assets on the balance sheet is €8,722 thousand at year-end.
Ubisoft Entertainment SA has not bought back treasury shares from related parties.
No transactions exist with the corporate officers, with the exception of their remuneration for their
duties as CEO and Executive Vice President.