Remuneration of Non-Executive Corporate Officers and Directors 126.96.36.199 Pierre Vareille received a gross remuneration of 300,000 euros for his duties as Chair of the Board in 2020. Applying the rules defined by the Board of Directors and detailed in the section 188.8.131.52 Remuneration Policy for Non-Executive Corporate Officers and Directors, Directors received the following remuneration for their duties.
TABLE C – SUMMARY OF DIRECTORS’ REMUNERATION
(Table 3 following the format of French Financial Markets Authority Position-Recommendation No. 2009-16)
Directors’ remuneration relating to 2020 (in euros)
Directors’ remuneration relating to 2019 (in euros)
Board members (during 2019 and 2020)
John Glen (Chair of the Audit Committee)
Elizabeth Bastoni (Chair of the Remuneration and Nomination Committees)
16,614 15,170 21,087
- - -
TOTAL FROMAUTHORIZED ENVELOPE
Ms Candace Matthews benefits from a specific arrangement of a fixed 30 thousand euros amount instead of this travel allowance, as per previous agreement. * Marie-Aimée Bich-Dufour, as an employee from BIC Services, received a gross remuneration and an end-of-career indmenity for a total amount of 110,428 euros for her duties from ** January 1, 2020 to September 30, 2020, when she retired. She started receiving remuneration as a Director on October 1, 2020. Directors representing employees, in application of the existing Directors’ remuneration policy, did not receive any remuneration for their participation to the Board in 2020. The decrease in the total expense of Directors’ remuneration is mainly linked to the limited travels for Board meetings in 2020, due to the Covid-related restrictions.
Variable Remuneration of Executive Corporate Officers 184.108.40.206 The Board of Directors set the fixed remuneration of Executive Corporate Officers for 2020 and the target variable remuneration:
Target variable remuneration in 2020 (corresponds to 100% achievement of the objectives)
Fixed remuneration in 2020 (in U.S. dollars)*
Gonzalve Bich Chief Executive Officer
770,000 U.S. dollars (675,142 euros) 125% of the fixed remuneration
James DiPietro Executive Vice-President (January 1 to June 30, 2020) 292,000 U.S. dollars (262,078 euros) 75% of the fixed remuneration Amounts in U.S. dollars were converted into euros using the average exchange rate for 2020 (1 EUR = 1.1405 USD), see Note 3 in the consolidated financial statements. * The variable remuneration to be paid to the Chief Executive Officer, Gonzalve Bich, and to the Executive Vice-President, James DiPietro (from January 1 to June 30, 2020), was calculated on the basis of three collective criteria in addition to individual objectives. All objectives – financial and personal – were reviewed and approved by the Board.
• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •