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Governance, risks, riskmanagement andinternalcontrol
3
Compensation of corporate offi cers
Michel Guillemot, Executive Vice President
Compensation components due
or granted
Year to March31, 2016
Amounts or
accounting valuation
submitted for a vote Presentation
Fixed gross annual compensation €24,000 Compensation in force since February1, 2011
Annual variable compensation N/A The principle of an annual variable compensation is not envisaged
Deferred variable compensation N/A The principle of a deferred variable compensation is not envisaged
Multi-annual variable compensation N/A The principle of a multi-annual variable compensation is not envisaged
Exceptional compensation N/A The principle of an annual exceptional compensation is not envisaged
Stock options €109,125
(accounting valuation)
Grant of 12,500 subscription options (23rdresolution of the General
Meeting of September23, 2015)
Subscription price: opening price (no discount)
Internal performance conditions: achievement of an average EBIT
assessed on the cumulative basis of the separate fi nancial statements
for the fi nancialyears ended March31, 2017, 2018, 2019 and 2020. The
fi nal percentage of grant will depend on thresholds to be reached set
out according to a percentage of achievement of the cumulated
objectives.
if EBIT ≥ Target = 100%
if EBIT ≥ 90% of Target and <Target = 70%
if EBIT ≥ 80% of Target and <90% of Target = 50%
if EBIT <80% = 0%
Performance shares N/A No performance shares were granted to Michel Guillemot during
thefi nancialyear
Other long-term compensation
components (redeemable equity
warrants, equity warrants,etc.)
N/A No allocation of long-term compensation components was carried out
Directors’ fees (gross) €40,000
€40k in total
Fixed: 40% is paid in two equal instalments in April (for the period from
April1 to September30) and in October (for the period from October1
to March31)
Variable: 60% paid in March prorated in accordance with the Board
members’ attendance at the meetings held during the fi nancialyear
within the following proportions:
♦ less than 50% attendance at Board meetings: no payment of the
variable component;
♦ between 50% and 75% attendance at Board meetings: payment
ofhalf of the variable component;
♦ over 75% attendance at Board meetings: payment of the entire
variable component.
Benefi ts in kind N/A Michel Guillemot is not eligible for benefi ts in kind.
Severance payment N/A No commitment of this type exists
Non-compete indemnity N/A There is no non-compete clause applicable
Supplementary pension scheme N/A Michel Guillemot is not eligible for a supplementary pension scheme
- Registration Document 2016 67