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CORPORATE GOVERNANCE
2
REMUNERATION AND BENEFITS IN KIND GRANTED BY THE COMPANY AND OTHER GROUP ENTITIES
IN 2015 TO MEMBERS OF THE ADMINISTRATIVE AND MANAGEMENT BODIES IN OFFICE
authorised severance pay of €800,000 due, except in cases of gross
or wilful misconduct, to Gilbert Vidal in the event of his dismissal, taking
into account changes in the scope of the Company, increases in his
remuneration since the severance pay amount was first set, and new
duties assumed.
At its meeting of 22 May 2014, the Board also renewed the performance
conditions tied to the severance pay; these conditions will be assessed
at Group level and are:
●
the certification, without major reservations and within the legal
deadlines, of the consolidated financial statements of the five years
preceding his departure from the Company;
●
an average ROCE of at least 6% over the last three financial years.
At its meeting of 27 February 2015, the Board decided to remove
Gilbert Vidal from his post as deputy managing director; nonetheless,
he was asked to remain at his post during and for the requirements
of a transition period lasting until the evening of 5 June 2015, which
Mr. Gilbert Vidal agreed to do. At the same meeting, the Board
authorised the payment to Gilbert Vidal of severance pay of €800,000
on the basis of the fulfilment of the performance conditions mentioned
above. Furthermore, the Board decided to give Gilbert Vidal, for a
period of one year from 5 June 2015, health insurance cover similar
to that which he enjoyed at the Company.
The Board of Directors’ decision of 27 February 2015 was published
on the Company’s website.
On 5 June 2015, the Board noted the removal of Mr. Gilbert Vidal as
deputy managing director.
Mr. Gilbert Vidal received no variable remuneration for 2015.
On 1 September 2015, GV Finance Conseils, represented by Gilbert
Vidal, and Assystem SA signed an assistance and services agreement
for the provision of legal, tax and M&A consulting services over the
period 1 September 2015 to 26 February 2016 for a total lump sum
of seventy-seven thousand five hundred euros (€77,500).
TABLE 1 – SUMMARY OF REMUNERATION DUE AND STOCK OPTIONS AND PERFORMANCE SHARES AWARDED TO EACH EXECUTIVE DIRECTOR
Dominique Louis
Chairman and Chief Executive Officer
2014
2015
Remuneration paid for the year (detailed in table 2)
€179,833
€253,600
Valuation of multiyear variable remuneration granted during the year
None
None
Valuation of options granted during the year (detailed in table 4)
None
None
Valuation of performance shares awarded during the year (detailed in table 6)
None
None
TOTAL PROVISIONS
€179,833
€253,600
Philippe Chevallier
Deputy CEO and CFO from 5 June 2015
2014
2015
Remuneration paid for the year (detailed in table 2)
–
€296,855
Valuation of multiyear variable remuneration granted during the year
–
None
Valuation of options granted during the year (detailed in table 4)
–
None
Valuation of performance shares awarded during the year (detailed in table 6)
–
None
TOTAL PROVISIONS
–
€296,855
Gilbert Vidal
Deputy managing director until 5 June 2015
2014
2015
Remuneration paid for the year (detailed in table 2)
€391,100
€1,184,915
Valuation of multiyear variable remuneration granted during the year
None
None
Valuation of options granted during the year (detailed in table 4)
None
None
Valuation of performance shares awarded during the year (detailed in table 6)
None
None
TOTAL PROVISIONS
€391,100 €1,184,915
31
ASSYSTEM
FINANCIAL REPORT
2015