APC 2007 Annual Report Download - page 58
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56
10. Regulated agreements
At its meeting of January 6, 2006, the Board of Directors
authorized the signature of a shareholders’ agreement be-
tween AXA and Schneider Electric SA. The agreement
calls for the continuation of stable cross-shareholdings be-
tween the two groups. In particular, Schneider Electric SA
undertakes to hold no less than 8.8 million AXA shares.
Each group also holds a call option that may be exercised
in the event of hostile takeover. The one-year agreement,
which is automatically renewed each year unless it is ex-
pressly terminated, was approved by shareholders at the
Annual Meeting of April 26, 2007.
At its meeting on May 3, 2006, the Supervisory Board de-
cided that Jean-Pascal Tricoire should continue to be enti-
tled to all the pension and other benefits provided for in his
service contract with Schneider Electric Industries S.A.S.,
which was suspended on his appointment to the Manage-
ment Board as Chairman. The Supervisory Board also au-
thorized the signature of an addendum to his service
contract defining the terms under which it will resume or be
terminated. This agreement was approved by shareholders
at the Annual Meeting of April 26, 2007 (see page 54).
11. Auditors
Appointed Appointment
expires
Statutory auditors
Ernst & Young et Autres
41, rue Ybry - 92576 Neuilly-sur-Seine Cedex
Represented by Pierre Jouanne 1992 2010
Mazars & Guérard
Tour Exaltis - 61, rue Henri Regnault - 92576 Neuilly-sur-Seine Cedex
Represented by Pierre Sardet 2004 2010
Substitute auditors
Charles Vincensini 2004 2010
Philippe Diu 2004 2010
Fees paid to the Auditors and members of their networks in 2006 and 2007
(
thousands)
2007 2006
Ernst Mazars Ernst Mazars
& Young
%
& Guérard
%
Total & Young
%
& Guérard
%
Total
Audit
Statutory auditing 8,981
81%
5,877
89%
14,858 7,601
80%
4,800
91%
12,401
o/w Schneider Electric SA 100 100 100 100,
o/w subsidiaries 8,881 5,777 7,501 4,700
Related engagements 1,476
13%
643
10%
2,119 1,597
17%
360
7%
1,957
o/w Schneider Electric SA 146 40 00
o/w subsidiaries 1,330 603 1,597 360
Sub-total 10,457
95%
6,520
99%
16,977 9,198
97%
5,160
97%
14,358
Other services
Legal and fiscal 594
5%
50
1%
644 245
3%
140
3%
385
Total 11,051
100%
6,570
100%
17,621 9,443
100%
5,300
100%
14,743
Services provided by the Auditors or units belonging to their networks are limited to audit and audit-related engage-
ments. Total audit fees billed from each audit firm for these engagements must not exceed 1/3 of total fees billed for
statutory accounting. Audit-related engagements must be authorized by the Audit Committee Chairman if they exceed
500,000 or by the Chief Financial Officer for amounts below 500,000.