against), and may result in items of compensation not laid down in the compensation policy being awarded, though any such items would be subject to ex post approval at the following General Meeting of Shareholders. Executive company officers 2.2. The Compensation Committee made recommendations concerning the compensation policy for executive company officers, which was reviewed by the Board of Directors at its meeting on 25 February 2021.
Note that application of the compensation policy and the payment of variable and exceptional components of compensation pursuant to this policy is subject to shareholder approval at an Ordinary General Meeting.
$"% #( ) $# $ ) '" # $ ) $ ' $ ' )$'(
Financial year 2021 and following The Board of Directors decided, on the recommendation of the Compensation Committee, not to make any changes to the compensation policy applicable to the Chairman of the Board of Directors, or to his annual fixed compensation.
COMPENSATION OF THE CHAIRMAN OF THE BOARD OF DIRECTORS ❙
Items of compensation Annual fixed compensation
Determination by the Board of Directors, acting on a recommendation by the Compensation Committee
Not applicable Not applicable Not applicable Not applicable
Deferment periods; option of asking for variable compensation to be returned
Possible, by decision of the Board of Directors, but contingent upon very specific circumstances with substantial consequences on the role and activity of the Chairman of the Board of Directors Payment subject to shareholder approval of all items of compensation at an Ordinary General Meeting and in all circumstances capped at 100% of annual fixed compensation
Share options, performance shares and any other long-term items of compensation Compensation referred to in Article L. 22-10-14 of the French Commercial Code
Application of Directors’ compensation policy
Any other benefits
Company car Not applicable Not applicable Not applicable
Severance pay/benefit payable upon change of duties
Supplementary pension plan
$"% #( ) $# % )$ ) - *) + $ '
Financial year 2021 and following The Board of Directors decided, on the recommendation of the Compensation Committee, not to make any changes to the Chief Executive Officer’s annual fixed compensation. At present, the guidelines for the structure of the Chief Executive Officer’s annual variable compensation, as determined by the Board of Directors, are as follows:
The increase in the weighting of qualitative targets in the variable compensation of the Chief Executive Officer (changed from 10% to 25%) resulted from the wish to increase the share of medium-term targets, whether these related to the social and environmental implications of the Group’s business activities or its organisation and strategy.