BIC - 2019 Universal Registration Document

CORPORATE GOVERNANCE

Corporate Officers’ compensation

The following table sets out the compensation of the Chairman, Chief Executive Officer and Executive Vice Presidents and that of employees in France in accordance with the requirements of the PACTE law in France. The perimeter of team members is all those in BIC entities in France

share awards at the IFRS value; ● prodit sharing; ● benefits in kind , i.e. cars; ● dividend equivalents; ● per la loi Pacte retirement plan benefits are not included;

(note: expatriate employees in France are excluded). The elements of compensation taken into account are: base salary on a full-time equivalent basis; ●

All amounts are in euros with conversions for the CEO and Executive Vice-President at the average exchange rate for the year

payments in 2019: 1 euro = 1.1196 U.S. dollar; ● payments in 2018: 1 euro = 1.1810 U.S. dollar. ●

bonus payments received during the year, i.e. the 2019 figures ● include bonus payments for the performance period of 2018 paid in 2019;

Employee average

Median employee

Compensation (in euros)

Amount (in euros)

Amount (in euros)

Ratio

Ratio

2019: Role

Chair

300,000

55,781

5

38,353

8

CEO

2,728,952

55,781

49

38,353

71

Executive Vice-President  (a)

1,608,130

55,781

29

38,353

42

Executive Vice-President  (b)

464,915

55,781

8

38,353

12

James DiPietro. (a) Marie-Aimée Bich-Dufour. (b)

Employee average

Median employee

Compensation (in euros)

Amount (in euros)

Amount (in euros)

2018: Role

Ratio

Ratio

Chair  (a)

187,500

54,934

3

37,780

5

CEO

2,061,961

54,934

38

37,780

55

Executive Vice-President  (b)

1,470,572

54,934

27

37,780

39

Executive Vice-President  (c)

571,187

54,934

10

37,780

15

Pierre Vareille. Mid-May to December 2018. 7.5 months at an annualized salary rate of 300,000 euros. (a) James DiPietro. (b) Marie-Aimée Bich-Dufour. (c)

Note: Detailed payroll data for a precise comparison is available for 2018 and 2019.

4.2.2.4

Revision of fixed compensation

Directors’ remuneration 4.2.2.5 Total Directors' remuneration paid to Elizabeth Bastoni, Marie-Pauline Chandon-Moët, Candace Matthews, Marie-Henriette Poinsot, François Bich, John Glen, Mario Guevara, Maëlys Castella, Timothée Bich and SOCIÉTÉ M.B.D. are determined on the basis of their participation in the meetings of the Board, and when applicable, of the Committees of the Board of Directors. For fiscal year 2019, the allocation of Directors’ remuneration is based on the following policy: fixed annual fee: 13, 300 euros (+2.3% versus 2018); ● variable part corresponding to 100% Board Meeting ● Attendance in 2019: 23,200 euros (+1.8% versus 2018); variable part corresponding to the attendance to a meeting ● based on another continent: 3,000 euros;

for 2020 The Board set the annual fixed compensation in respect of 2020: 300,000 euros for Pierre Vareille, Chair of the Board ● (unchanged versus 2019); 770,000 U.S. dollars (687,746 euros  (1) +4.8% versus his ● compensation in 2019) for Gonzalve Bich, Chief Executive Officer; The Remuneration Committee recommended this increase based on the CEO’s performance and experience in role in addition to the market data; 584,000 U.S. dollars (512,615 euros  (1) +1.95% versus 2019) ● for James DiPietro, Chief Finance Officer and Executive Vice-President;

Amounts in U.S. dollars were converted into euros using the average exchange rate for 2019 (1 euro = 1.11196 U.S. dollar). (See note 3 to the (1) consolidated financial statements)

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• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •