Information relating to the components of the Chairman and Chief Executive Officer's compensation for the financial year ended December 31, 2019 as determined by the
Board of Directors on March 24, 2020
Further to the recommendation of the Compensation Committee, the Board of Directors, at the meeting held on March 24, 2020 (i) determined Jacques Aschenbroich's variable compensation for his duties as Chairman and Chief Executive Officer for the financial year ended December 31, 2019 and (ii) acknowledged the degree of achievement of his pension plan's performance condition for the financial year ended December 31, 2019.
I.
Jacques Aschenbroich's variable compensation for the financial year ended
December 31, 2019
Further to the recommendation of the Compensation Committee, the Board of Directors assessed the degree of achievement of the quantifiable and qualitative criteria of Jacques
Aschenbroich's variable compensation in respect of the financial year ended December 31,
2019. The components of this compensation were set by the Board of Directors on February
21, 2019 acting on the recommendation of the Compensation Committee and approved at a rate of 91.92% by the General Shareholders' Meeting of May 23, 2019 as part of the vote on the 2019 compensation policy (tenth resolution) (the 2019 Compensation Policy ).
The annual variable compensation due to Jacques Aschenbroich for the financial year ending
December 31, 2019 therefore amounts to 105 % of the annual fixed compensation due to him for this financial year, i.e. 1 113 791 euros, out of a maximum percentage of 170% of the fixed compensation that the variable compensation can represent for that financial year.
The following table summarises the applicable quantifiable and qualitative criteria, the degree of achievement of each quantifiable criterion, the entitlement relating to each of these criteria in terms of percentage of the annual fixed compensation, and the maximum variable compensation for the financial year ending December 31, 2019:
1
Quantifiable criteria (1)
Nature of the quantifiable criterion
Maximum amount of the variable part as a % of annual fixed compensation
Amount of the variable part Percentage of achievement obtained a % of annual of the criterion fixed compensation (3)
Operating margin rate
25%
0% (4)
