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COMPENSATION AND BENEFITS
15
15.1 Compensation of officers and directors
Non-competition payments
The Board of Directors may decide to grant a payment to Mr. Philippe Knoche in
return for a non-competition clause. The amount of that payment shall be deducted
from the amount of the severance payment made, if any, to Mr. Philippe Knoche
under the above conditions. In the absence of a severance payment, the amount
of the payment due in return for a non-competition clause shall be set by the Board
of Directors in accordance with common practices.
Any non-competition payment must first be approved by the Board of Directors in
accordance with article L. 225-42-1, paragraph 5 of the French Commercial Code
and be approved by the Minister of the Economy pursuant to the above-mentioned
decree no. 53-707 of August 9, 1953.
15.1.1.3.
PENSIONS AND RETIREMENT BENEFITS
The company did not subscribe to any supplemental retirement plan with defined
benefits for the Chief Executive Officer. He participates in the supplemental
retirement plans applicable to the company’s executive employees.
15.1.1.4.
UNEMPLOYMENT INSURANCE
The company subscribed to an unemployment insurance plan set up by Medef
and underwritten by Garantie sociale des chefs et dirigeants d’entreprise (GSC)
in favor of the Chief Executive Officer. Membership allows officers to benefit from
12 months of severance payments with a payment level of 70% of net revenue from
employment received for the calendar year preceding membership in the case of
tax brackets A and B, and 55% in the case of tax bracket C. Seventy percent of the
premiums for this insurance are paid by AREVA and 30% by the beneficiary officer.
15.1.2.
COMPENSATION OF THE CHAIRMAN AND MEMBERS OF THE BOARD OF DIRECTORS
15.1.2.1.
COMPENSATION OF THE CHAIRMAN
OF THE BOARD OF DIRECTORS
The gross fixed annual compensation for 2016 of Mr. Philippe Varin as Chairman
of the Board of Directors did not change compared with 2015, remaining at
120,000 euros for the duration of his term of office by decision of the Board of
Directors of April 29, 2015 on the recommendation of the Compensation and
Nominating Committee of April 23, 2015. This compensation was approved by
ministerial decision dated May 19, 2015.
Mr. Philippe Varin does not receive variable compensation.
(euros)
Summary of compensation and benefits of Philippe Varin
AREVA officers and directors
Financial Year 2015
Financial Year 2016
Amounts due
(1)
Amounts paid
(2)
Amounts due
(1)
Amounts paid
(2)
Fixed compensation
120,000
120,000
120,000
120,000
Variable compensation
NA
NA
NA
NA
Exceptional compensation
NA
NA
NA
NA
Attendance fees
NA
NA
NA
NA
Benefits in kind
NA
NA
NA
NA
TOTAL
120,000
120,000
120,000
120,000
(1) Compensation due for the year, regardless of payment date.
(2) Sum total of compensation paid during the year.
15.1.2.2.
SEVERANCE AND NON-COMPETITION PAYMENTS
Mr. Philippe Varin is not entitled to severance or non-competition payments.
Executive director
Employment contract
Supplemental
retirement benefits
Compensation or benefits due or that may be due in
the event of termination or change in duties, including
payments relative to a non-competition clause
Yes
No
Yes
No
Yes
No
Name: Philippe Varin
Office: Chairman of the Board of
Directors
Date of start of term: January 8, 2015
Date of end of term: 2019 Annual
General Meeting
X
X
X
144
2016 AREVA
REFERENCE DOCUMENT