| ,TYPE OF COMPENSATION OR BENEFITS | AMOUNTS PAID DURING FISCAL 2022 | AMOUNTS AWARDED FOR FISCAL 2022 OR ACCOUNTING VALUE | COMMENTS |
|---|---|---|---|
| Non-compete indemnity | Non-compete indemnity AMOUNTS PAID DURING FISCAL 2022 €1,045,000* |
Non-compete indemnity AMOUNTS AWARDED FOR FISCAL 2022 OR ACCOUNTING VALUE €3,420,000 |
Non-compete indemnity COMMENTSThe Covid-19 pandemic has forced Sodexo and traditional players to develop their business model to face the emergence of new sources of competition. Therefore, the scope of the non-compete agreement initially entered into no longer reflects recent and unpredictable developments within Sodexo's sector of activity, massively impacted by the Covid-19 crisis. In this context, as the 2018 noncompete agreement was not sufficiently protective of the Company’s interests, the Board of Directors decided to modify the scope of this non-compete agreement, as follows:
|
| Supplemental pension plan | Supplemental pension plan AMOUNTS PAID DURING FISCAL 2022No amounts paid |
Supplemental pension plan AMOUNTS AWARDED FOR FISCAL 2022 OR ACCOUNTING VALUENo amounts awarded |
Supplemental pension plan COMMENTSNo rights to the supplementary defined benefit pension plan provided for in article 39 of the French General Tax Code and article L.137-11-2of the French Social Security Code have been granted to Denis Machuelin respect of the Fiscal 2022. |
| Fringe benefits | Fringe benefits AMOUNTS PAID DURING FISCAL 2022 €29,448 |
Fringe benefits AMOUNTS AWARDED FOR FISCAL 2022 OR ACCOUNTING VALUE €29,448 |
Fringe benefits COMMENTSDenis Machuel had the use of a Company car and is the beneficiary of an unemployment insurance policy. In accordance with the remuneration policy approved at the Annual Shareholders Meeting, coverage under health and benefit plans has been extended for a period of 12 months. The plan was extended through the purchase of an individual insurance contract with an external insurer. The Group has thus awarded Denis Machuel the equivalent amount of the contribution, 13,635 euro. |
* Amounts paid in Fiscal 2022 subject to shareholder approval at the December 2021 Annual Shareholders Meeting.
Denis Machuel is not eligible for any of the following types of compensation or benefits: multi-year variable compensation, exceptional compensation or termination benefit.
In accordance with article L.225-37-3 of the French Commercial Code, the table below shows the ratios between the level of compensation of the Chairman of the Board of Directors, of the Chief Executive Officer and the average and median compensation of Sodexo employees over the last five years on a full time equivalent basis.
These ratios were established by referring to the AFEP guidelines on compensation multiples published on January 28, 2021.
The compensation of executive directors and employees retained includes all fixed and variable compensation components, and benefits of all kinds paid over the last five fiscal years. The method for determining and valuing the elements of compensation for executive directors and employees is therefore harmonized.
Performance share value has been taken into account at grant value under IFRS rules on the grant date.
The ratio below are proposed for two scopes: The listed company Sodexo S.A. including around 450 employees, and an extended scope including the holdings of the Sodexo Group in France as well as the On-site activity in France, for around 27,000 employees, i.e. 79% of the total workforce in France.
