| EMPLOYMENT CONTRACT | SUPPLEMENTAL PENSION PLAN | COMPENSATION OR ENTITLEMENTS DUE OR LIKELY TO BECOME DUE AS A RESULT OF A CHANGE IN DUTIES OR LOSS OF OFFICE | INDEMNITY RELATING TO A NON-COMPETE CLAUSE | ||||
|---|---|---|---|---|---|---|---|---|
EMPLOYMENT CONTRACT YES | SUPPLEMENTAL PENSION PLAN NO | COMPENSATION OR ENTITLEMENTS DUE OR LIKELY TO BECOME DUE AS A RESULT OF A CHANGE IN DUTIES OR LOSS OF OFFICE YESYES | INDEMNITY RELATING TO A NON-COMPETE CLAUSE NO | YES | NO | YES | NO | |
Sophie Bellon Chairwoman of the Board of Directors | Sophie Bellon Chairwoman of the Board of Directors EMPLOYMENT CONTRACT
| Sophie Bellon Chairwoman of the Board of Directors SUPPLEMENTAL PENSION PLAN
| Sophie Bellon Chairwoman of the Board of Directors COMPENSATION OR ENTITLEMENTS DUE OR LIKELY TO BECOME DUE AS A RESULT OF A CHANGE IN DUTIES OR LOSS OF OFFICE
| Sophie Bellon Chairwoman of the Board of Directors INDEMNITY RELATING TO A NON-COMPETE CLAUSE
|
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Appointment date: January 26, 2016 | Appointment date: January 26, 2016 EMPLOYMENT CONTRACT
| Appointment date: January 26, 2016 SUPPLEMENTAL PENSION PLAN X | Appointment date: January 26, 2016 COMPENSATION OR ENTITLEMENTS DUE OR LIKELY TO BECOME DUE AS A RESULT OF A CHANGE IN DUTIES OR LOSS OF OFFICE
| Appointment date: January 26, 2016 INDEMNITY RELATING TO A NON-COMPETE CLAUSE X |
| X |
| X |
Expiration of current term: 2021 Annual Shareholders Meeting held to approve the financial statements for Fiscal 2020 | Expiration of current term: 2021 Annual Shareholders Meeting held to approve the financial statements for Fiscal 2020 EMPLOYMENT CONTRACT
| Expiration of current term: 2021 Annual Shareholders Meeting held to approve the financial statements for Fiscal 2020 SUPPLEMENTAL PENSION PLAN
| Expiration of current term: 2021 Annual Shareholders Meeting held to approve the financial statements for Fiscal 2020 COMPENSATION OR ENTITLEMENTS DUE OR LIKELY TO BECOME DUE AS A RESULT OF A CHANGE IN DUTIES OR LOSS OF OFFICE
| Expiration of current term: 2021 Annual Shareholders Meeting held to approve the financial statements for Fiscal 2020 INDEMNITY RELATING TO A NON-COMPETE CLAUSE
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The following tables show a breakdown of the various components of Denis Machuel’s compensation during Fiscal 2020.
These components were determined in line with the compensation policy for the Chief Executive Officer approved at the January 21, 2020 Combined Annual Shareholders Meeting (eleventh resolution). This policy provides a fixed, variable and long-term compensation, as well as a non-compete agreement, a supplemental pension plan, collective health and benefit plans as well as fringe benefits . It does not include any multi-year variable compensation, exceptional compensation or a termination benefit.
Given the unprecedented sanitary crisis caused by the Covid-19 pandemic and its resulting social and economic impacts, the Board of Directors decided to reduce his salary by 50% for the second half of Fiscal 2020 and to suppress his variable compensation for Fiscal 2020. This decision was fully supported by Denis Machuel, and allowed him to express his solidarity with the Group’s employees. The amounts not paid for the fixed and variable compensation financed the creation of the Sodexo Employee Relief Program in April 2020 to help address some of the social and economic consequences of the Covid-19 pandemic.
At the Ordinary Annual Shareholders Meeting of January 12, 2021, shareholders will be given a “say-on-pay” vote on the total compensation and benefits paid during or awarded for Fiscal 2020 to Denis Machuel for his role as Chief Executive Officer.
DENIS MACHUEL CHIEF EXECUTIVE OFFICER (in euro) | FISCAL 2020 | FISCAL 2019 |
|---|---|---|
| Compensation awarded for the fiscal year (gross, before tax) | Compensation awarded for the fiscal year (gross, before tax) FISCAL 2020 688,463 | Compensation awarded for the fiscal year (gross, before tax) FISCAL 2019 1,807,730 |
| Value of stock options granted | Value of stock options granted FISCAL 2020 N/A | Value of stock options granted FISCAL 2019 N/A |
| Value of performance shares granted | Value of performance shares granted FISCAL 2020 N/A * | Value of performance shares granted FISCAL 2019 1,836,252 |
| TOTAL | TOTAL FISCAL 2020 688,463 | TOTAL FISCAL 2019 3,643,982 |
* No performance shares were grant during Fiscal 2020.
