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5CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
27.2 – Employee benefits expense
Full year 2013 Full year 2012
Payroll costs (5,976) (5,924)
Profit-sharing and incentive bonuses (64) (59)
Stock options (66) (57)
WESOP --
EMPLOYEE BENEFITS EXPENSE (6,106) (6,040)
27.3 – Benefits granted to senior executives
due to the 2013 the long term incentive plan. Since December16,
2011, 100% of stock grants and/or stock options are conditional
In2013, the Group paid EUR1.25million in attendance fees to the on the achievement of performance criteria for members of the
members of its board of directors. The total amount of gross Executive Committee.
remuneration, including benefits in kind, paid in2013 by the Pension obligations net of assets with respect to members of
Group to the members of Senior Management totaled Senior Management amounted to EUR21million at December31,
EUR18.1million, of which EUR9.3million corresponded to the 2013 versus EUR17million at December31, 2012.
variable portion.
Please refer to Chapter3 Section8 of the Registration Document
During the last three periods, 496.250performance shares have for more information regarding the members of Senior
been allocated to members of Senior Management. No stock Management.
option has been granted to members of Senior Management
during the last three periods. Performance shares were allocated
Related party transactions
Note28
28.1 – Associates 28.2 – Related parties with significant influence
Companies over which the Group has significant influence are No transactions were carried out during the year with members of
accounted through equity consolidation method. Transactions with the supervisory board or management board.
these related parties are carried out on arm’s length terms. Compensation and benefits paid to the Group’s top senior
Related party transactions were not material in2013. executives are described in note27.3.
238 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC