BIC - 2020 Universal Registration Document

CORPORATE GOVERNANCE

Corporate Officers’ remuneration

Employees Average Remuneration

Employees Median Remuneration

Amount (in euros )

Amount (in euros)

Remuneration (in euros)

Ratio

Ratio

2020

Chair

300,000

49,682

6

35,169

9

CEO

2,846,374

49,682

57

35,169

81

Executive Vice- President (a)

789,665

24,841

32

17,585

45

January to June 2020. Remuneration prorated for 6 months. (a)

The change in the average and median remuneration compared to previous years is explained by an expansion of the population included in the calculation, the downward trend in the IFRS value of performance share plans awarded, the reduction in variable remuneration amounts, and reduction in headcount.

Employees Average Remuneration

Employees Median Remuneration

Remuneration (in euros)

Amount (in euros)

Amount (in euros)

2019

Ratio

Ratio

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)

Employees Average Remuneration

Employees Median Remuneration

Remuneration (in euros)

Remuneration (in euros)

Remuneration (in euros)

2018

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 since 2018.

Allocation of stock options 4.2.2.4 Since 2011, the Board has not awarded stock options. At the end of 2018, all vested options had expired.

Corporate Officers mentioned in the table below benefit from this policy. Performance is assessed according to the achievement of two objectives: net sales growth on a comparative basis; ● net cash flow from operations and change in inventory, as a ● percentage of net sales. The results of the performance conditions related to Plan 13 (vesting March 31, 2020) did not yield a delivery of shares to the beneficiaries in 2020.

4.2.2.5

Allocation of performance-based shares

From 2005, exercising the power placed at its disposal by the Shareholders’ Meeting, the Board of Directors decided, upon the recommendation of the Remuneration Committee, to put in place a policy of three-year performance-based share grants. The Executive

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• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •