APC 2013 Annual Report Download - page 154

3CORPORATE GOVERNANCE
INTERESTS AND COMPENSATION OF GROUP SENIOR MANAGEMENT
Year 2014
On the proposal of the Remuneration, Human Resources and CSR For 25%, criteria that are in line with the company program
–
Committee, on February 19, 2014, the board of directors set Mr. Connect and social and environmental responsibility,
Babeau’s compensation for 2014. It breakdowns into a fixed evaluated in particular through the Planet & Society
compensation amounting EUR550,000 and a target variable part Barometer.
at 100% of his fixed compensation and may range from 0% to
Individual objectives for 30%: these objectives remain2)
200% of his fixed compensation. The board set the variable part
confidential as they might bring strategic information to the
targets and the weight of each of the criteria as follows:
competition.
Group criteria for 70%, including:
1)
For 45%, a Group economic criteria component. These
–
criteria include targets for organic growth in revenue,
adjusted EBITDA and cash generation ;
Long-term incentive
As part of the long-term incentive plan for2013, the supervisory Accordingly, the final allocation of performance shares is subject
board approved the allocation of 24,000performance shares to:
under plan15. The allocation of these shares is entirely dependent for 70%, a target operating margin of Adjusted EBITA for the
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on attaining Group performance criteria, in compliance with the period 2014/2015,
AFEP/MEDEF recommendations. for 15%, a level of achievement of the Planet & Society
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They are also subject to a lock-up period (see page 284). These Barometer at the end of 2015,
shares were allocated by the management board on March 28, for 15%, a level of achievement of the ROCE criterion for the
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2013. The portion of shares thus allocated represents 1% of the period 2014/2015.
total allocation and 0.004% of capital at the date of allocation. They are also subject to a lock-up period (see page 284). These
The board of directors approved, as part of the long-term incentive shares will be allocated by the management board on March 31,
plan for 2014, the allocation of 26,000performance shares. The 2013.
allocation of these shares is entirely dependent on attaining Group
performance criteria, in accordance with the AFEP/MEDEF
recommendations.
152 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC