Ubisoft 2014 Annual Report Download - page 154

Financial statements
2014
149
1.6.9.2 RELATED PARTY TRANSACTIONS 
A - COMPENSATION OF CORPORATE OFFICERS OF THE COMPANY AND OF THE
CONTROLLING AND/OR CONTROLLED COMPANIES
Messrs Guillemot are remunerated for their positions as CEO and Executive Vice Presidents. This
involves a fixed compensation element – whereby it should be noted that the Compensation
Committee has proposed to the Board of Directors to attach to the compensation of the CEO, with
effect from April 1, 2014, an annual variable compensation element based on quantitative and/or
qualitative criteria and extraordinary compensation after achieving an operational objective. 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, within the meaning of IAS 24.16, was €721 thousand.
No commitments have been made by the Company in favor of its corporate officers related to their
termination or change in responsibilities.
B - COMPENSATION OF OFFICERS
Furthermore, in consideration – very partial – of the responsibilities assumed and also the time spent
preparing Board meetings and actively participating therein, directors receive directors’ fees consisting
of a fixed portion and a variable portion.
The General Meeting of June 27, 2013, modified the amount of directors’ fees voted on in 2006 from
€250 thousand to €370 thousand in order to reflect the expected increase in the number of directors
(General Meetings of June 27, 2013, and November 20, 2013) and the establishment of the Audit
Committee from November 20, 2013.During the 2013/2014 financial year, members of the Board of
Directors received €331 thousand in directors’ fees.
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.
03/31/14
03/31/13
Short-term benefits
(1)
1,007
927
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
Stock-based-compensation
(2)
61
152
TOTAL
1,068
1,079
N/A: not applicable
(1)
Includes fixed compensation, benefits in kind and directors’ fees recognized for the financial year
(2)
This is the expense for the financial year for share-based payments calculated in accordance with IFRS2
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.