Termination Payment and Sign-on Bonus The Chief Executive Corporate Officer shall not receive a Termination Payment if and when leaving the Company at the end of his duties which can be terminated at any time (ad nutum). The Board reserves the right to: consider pre-established potential termination payments for ● other Executive Corporate Officers under guidance of the AFEP-MEDEF Code recommendations and ceilings, in case of a future appointment; make provisions for sign-on payments for newly hired ● Executive Corporate Officers reflecting the personal situation of Executive Corporate Officers recruited to join the Company ( e.g. , change in status, termination of an employment contract, etc.). no exceptional remuneration shall be granted to Executive ● Corporate Officers apart from the possible sign-on as described above; no non-compete agreements are considered as part of the ● policy. Claw back clause The Board of Directors may, in its sole discretion, ask for the reimbursement of the last annual variable remuneration paid and the last long-term incentive delivered to Executive Corporate Officers if the beneficiary would be found accountable of a voluntary gross mis-conduct or fault by the Board, while employed by or providing services to the Company. Other elements No other elements are part of this policy, specifically,
Retention conditions of share-based elements in case of departure
If an Executive Corporate Officer leaves the Company, the Board of Directors will assess whether he/she may retain the right, in full or in part, to be delivered previously granted and un-vested performance shares, subject to the following limits and conditions: retention is only possible in case of retirement or a forced ● departure, i.e. , not in the event of resignation; no delivery is authorized before the acquisition date specified ● in the relevant plans’ rules. Consequently, no early vesting of performance shares is possible; the performance conditions must continue to apply ● throughout the specified acquisition period. If an Executive Corporate Officer leaves the Company as such during the vesting period (except in case of death), he/she may not retain any right to be delivered unvested Stock Options. In case of death or retirement during the exercise period, stock options might be maintained.. Supplementary pension plans The Chairman of the Board, already a retiree from other companies, does not benefit from any supplementary pension The Executive Corporate Officers benefit from supplementary pension plans as presented in detail in section 126.96.36.199 below. Benefits in kind Executive Corporate Officers may benefit from a company car or an equivalent car allowance and of standard health coverage, equivalent to the benefits granted to other BIC Executive leaders based in the same country.
• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •