APC 2014 Annual Report Download - page 154

3CORPORATE GOVERNANCE
INTERESTS AND COMPENSATION OF GROUP SENIOR MANAGEMENT
Criteria / Objectives Weight Variable part target Variable part acheived Amount
Group 70% 70% 78% EUR429,000
Individuals 30% 30% 54% EUR297,000
TOTAL 100% 100% 132% EUR726,000
Year 2015 Long-term incentive
Fixed and variable part Year 2014
On the proposal of the Governance and remunerations As part of the long-term incentive plan for2014, the board of
committee, the board of directors on February18, 2015 set Mr. directors decided the grant of 26,000performance shares under
Babeau’s compensation for 2015. It breakdowns into a fixed plan17. The allocation of these shares is entirely dependent on
compensation amounting EUR550,000 and a target variable part attaining Group performance criteria, in compliance with the
at 100% of his fixed compensation and may range from 0% to AFEP/MEDEF recommendations.
200% of his fixed compensation. The board set the variable part Accordingly, the final allocation of performance shares is subject
targets and the weight of each of the criteria as follows: to:
Group criteria for 75%, including:1)
For 70%, a target operating margin of Adjusted EBITA for the
l
for 45%, a Group economic criteria component. These
–
period 2014/2015,
criteria include targets for organic growth in revenue,
For 15%, a level of achievement of the new Planet & Society
l
adjusted EBITA and cash generation;
Barometer at the end of 2015,
for 30%, criteria that are in line with the company program
–
For 15%, a level of achievement of the ROCE for the period
l
Schneider is On and social and environmental
2014/2015.
responsibility, evaluated in particular through the new
Planet & Society Barometer.
They are also subject to a lock-up period (see page284). The
Individual objectives for 25%: these objectives remain2)
portion of shares allocated to Mr. Babeau represents 0.9% of the
confidential as they might bring strategic information to the
number of performance shares granted by the board of directors
competition.
and 0.004% of capital at the date of such allocation.
Complementary remuneration Year 2015
The board of directors dated February 18, 2015 authorized a As part of the long-term incentive plan for 2015, the board of
complementary remuneration to enable Mr. Babeau to build up a directors agreed on an allocation of 26,000performance shares.
supplementary pension, knowing that the board of directors The allocation of these shares is entirely dependent on attaining
decided to remove the benefit of the supplementary pension Group performance criteria, in accordance with the AFEP/MEDEF
scheme ‘article 39’ for executive directors (see chapter 8, recommendations.
pages295 to 297). They are also subject to a lock-up period. These shares will be
allocated by the board of directors on March27, 2015.
152 2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC