Ubisoft 2014 Annual Report Download - page 185
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Financial statements
2014
180
3.6.2.2 OTHER COMMITMENTS
Since all members of staff are corporate officers, no retirement benefits are owed.
Ubisoft Entertainment SA has committed to provide financial support to its subsidiaries in order to
meet their cash flow requirements.
There are no finance leases.
3.6.3 MANAGEMENT COMPENSATION
Ubisoft Entertainment SA paid €721 thousand in compensation to its corporate officers during the
financial year 2013/2014.
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 amount of directors’ fees voted on in 2006 was modified from €250 thousand to €370 thousand by
the General Meeting of June 27,2013 and from €370 thousand to 450€ thousand by the General
Meeting of November 20,2013, 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 fiscal year, members of the Board of Directors received €331 thousand in
directors’ fees.
No obligation has been undertaken by the Company in favor of its corporate officers related to their
termination or change in responsibilities.
Pursuant to Article L. 225-43 of the French Commercial Code, no loans or advances were made to the
Company’s directors.
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.
3.6.4 CONTINGENT ASSETS AND LIABILITIES
To the best of our knowledge, there were no contingent assets or liabilities at March 31, 2014.
3.6.5 EVENTS AFTER THE BALANCE SHEET DATE
May 2014: signed a promise to purchase the building at 28 & 32 rue Armand Carrel in Montreuil-sous-
Bois (93100) for € 9.5M.