BIC - 2019 Universal Registration Document

BOARDOFDIRECTORS’REPORTANDDRAFTRESOLUTIONSOF THESHAREHOLDERS’MEETINGOF MAY 20,2020

Ordinary Shareholders’ Meeting

Compensation elementsandbenefitsofanytypepaidor grantedfor2019

Amountsoraccountingvaluation submittedforapproval

Presentation

Method for

determining the

pensionable

•

compensation: the pensionable compensationis the average • remunerationofthelastthreeyearsofservice; to determine the pensionable compensation, • only gross annual base and annual bonus are included, all other direct or indirect payments areexcluded. Rateofpensionrightsacquisition: • the supplementarypensionis equalto 1.25%of • the average compensation per year of membershipof theplan,witha maximumof 25% ( i.e. 20 years); on May 18, 2016, Société BIC’s Board of • Directors decided to freeze the acquisition rights of Marie-AiméeBich-Dufourin this plan duringhernewmandate; thecommitmentsarisingfromthisplanare • provisionedbySOCIÉTÉBICinaccordancewith IAS 19. MaximumPayments: • the consolidation of all pension rights • (mandatoryand supplementary)cannot exceed 50%ofthelastannualcompensation.Thisceiling isverifiedatthedateofretirement. Methodoffunding: • the employer funds the entirety of the rights • throughcontributions toaninsurancecontract. OtherexpensespaidbytheCompany: • theemployerpaystheFillontax,whichis24%of • thecontributions totheinsurancecontract. On December 31,2019, the supplementarypension whichhas been determinedbasedon seniorityin the Plan and on her compensationas of May 18, 2016, amountsto107,318 EUR (forinformationpurposes). Theregulatedagreementsprocedurewasfollowedfor thispensionplan. BoardofDirectors’Meetingdecisiondate: May 19,2005. Shareholders’Meetingdecisiondate: May 24,2006(Resolution5).

299

• BIC GROUP - 2019 UNIVERSAL REGISTRATION DOCUMENT •