Fiscal 2021 Universal Registration Document

No amounts paid

No amounts awarded

Since his appointment as member of the Group's Executive Committee in September 2014 and until December 31, 2019, Denis Machuel was a beneficiary of a defined benefit pension plan governed by article 39 of the French General Tax Code and article L.137-11-1 of the French Social Security Code, set up for the Group's senior executives holding an employment contract with one of its French companies.

In order to comply with the PACTE Act and the Ordonnance of July 3, 2019 implementing the EU Pensions Portability Directive into French law, rights acquired as at December 31, 2019, were frozen at that date. Denis Machuel’s pension has been set at 38,141 euro per year.

In Fiscal 2021, the Company replaced the defined benefit supplemental pension plan governed by article 39 of the French General Tax Code and article L.137-11-1 of the French Social Security Code with a plan governed by article L.137-11-2 of the French Social Security Code, with similar characteristics. The new plan was approved at the Annual Shareholders Meeting of January 12 , 2021.

This plan grants annual rights amounting to 0.5% of fixed and variable compensation for the first five years and to 1% of fixed and variable compensation paid to him beyond five years, up to a total of 10%. The vesting of rights remains subject to the same performance condition as the one set for the previous plan, i.e., at least 80% achievement of the Chief Executive Officer’s annual variable compensation targets. Provided this condition for Fiscal 2021 is met, the Chief Executive Officer acquires the right to a lifetime pension of 5,569 euro gross per year. The resulting pension will be added to the pensions due to him under compulsory pension plans. As per the Company's choice of financing, this pension will not generate any liability on the Company’s balance sheet.

€13,394 

€13,394 

has the use of a Company car and is the beneficiary of an unemployment insurance policy.