BPCE_REGISTRATION_DOCUMENT_2017
2 REPORT ON CORPORATE GOVERNANCE
Rules and principles governing the determination of pay and benefits
2.5.4
2018 PayPolicy
The pay policy describedbelow was defined by the SupervisoryBoard on February 13, 2018, based on a motion by the Remuneration Committee. This policy is subject to a vote at the Annual General Shareholders’ Meeting. This policy update will take effect once approved by the Annual General Shareholders’ Meeting called to approve the 2017 financial statements. The members of the Management Board (Catherine Halberstadt, Laurent Roubin, François Riahi) are paid in respect of their corporate offices and their respectiveduties as Chief ExecutiveOfficer – Human Resources, Group Internal Communications, Corporate Secretary’s
Office; Chief Executive Officer – Retail Banking and Insurance; and Chief Executive Officer – Finance, Strategy, Legal Affairs, Secretary’s Office of the Governing Bodies. Given his duties as Chief Executive Officer of Natixis, Laurent Mignon is paid solely for his corporate office at Natixis. As such, he does not collectany pay from BPCE. The President of the ManagementBoard is paid solely in respect of his corporateoffice. The principles and rules for determiningtheir pay and other benefits granted in respect of their office and employment contract are approved by the Supervisory Board based on a motion by the Remuneration Committee.
PAY POLICY APPLICABLE TO THE PRESIDENT OF THE MANAGEMENT BOARD ➡
Pay component Annual fixed pay
Principles and criteria adopted
In accordancewith Article 19 of the BPCE Articles of Associationand based on a motion by the Remuneration Committee,the SupervisoryBoard sets the pay granted to the Presidentof the ManagementBoard, taking into account the unique responsibilities of the President of the Management Board compared to other Board members. This pay primarily reflects the professional experience related to the position held and the responsibilities exercised,and is determinedby comparisonto marketpractices. SinceJanuary 1,2018, it has includeda special increase equal to20%of his fixed payin respectof the Article 82 supplemental pension scheme.
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Registration document 2017
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