APC 2015 Annual Report Download - page 299

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 297
ANNUAL SHAREHOLDERS’ MEETING
8
REPORT OF THE BOARD OF DIRECTORS TO THE COMBINED ANNUAL AND EXTRAORDINARY SHAREHOLDERS’ MEETING
II – Other elements of compensation, which were or are subject to the approval of the Annual
Shareholders’ Meeting pursuant to regulated agreements
Amounts submitted to the
vote Description
Termination
benefi ts
€0 Mr. Tricoire is entitled to involuntary termination benefi ts in case of change of control
or strategy and taking into account the non-compete compensation described below,
capped at twice the arithmetical average of his annual fi xed and variable remuneration
(i.e. inclusive of compensation and complementary payments) paid over the last three
years and authorized by the Board of Directors. (See Section3-7 of the 2015 Registration
Document).
Board decision of June18-19, 2013.
Date of approval by the Annual Shareholders’ Meeting: May6, 2014 (Fifth Resolution)
Non-compete
compensation
€0 Mr.Tricoire may receive non-compete compensation for a period of one year capped at
6/10th of his average gross compensation – i.e. including annual complementary payments
– fi xed and target variable – over the last 12 months of service). (See Section3-7 of the
2015 Registration Document).
Board decisions of 2009, 2012, and June18-19, 2013.
Dates of approval by the Annual Shareholders’ Meeting: 2009, 2012 and May6, 2014
Supplementary
pension scheme
€0 By decision of the board of directors’ meeting of February18, 2015, Mr.Tricoire has lost
the benefi ts of the fi xed benefi t pension scheme of 1995 and 2012 for French executives
(Article39), as well as those from the Article83 from which he previously benefi tted.
See Section3-7 of the 2015 registration document.
Board decision of February18, 2015
Date of approval by the Annual Shareholders’ Meeting: April21, 2015 (Fifth Resolution)
Supplementary
Life & Disability
scheme
€0 Mr.Tricoire benefi ts from rights to (i) a life-time annuity to the benefi t of his surviving spouse
in the event of his decease before retirement or if he leaves the company after the age of
55 without taking up any other employment. This life-time annuity shall be equal to 60% of
25% of the average compensation paid (i.e. including annual complementary payments)
over the three years preceding the date of his decease, less any theoretical income
that may have been obtained under insurance conditions as a result of complementary
payments already made (see above) (ii) a disablement pension, revertible to the surviving
spouse, in cases of disablement leading to the cessation of any professional activity as
from the date of his retirement, equal to 25% of the average compensation paid (i.e.
including annual complementary payments) over the three years prior to his disablement,
minus 1.25% per missing quarter required for obtaining a full-rate pension and less the
theoretical income that may have been obtained through insurance schemes at the time
of disablement resulting from any complementary payments already made.
See Section3-7 of the 2015 registration document.
Board decision of February18, 2015.
Date of approval by the Annual Shareholders’ Meeting: April21, 2015 (Fifth Resolution)
Moreover, in addition to the benefi ts of the collective providence scheme applicable to
Schneider Electric SE and Schneider Electric Industries SAS employees covering risks of
illness, disablement and decease, Mr. Tricoire also benefi ts from the complementary cover
granted to French executives in the Group against risks of illness, incapacity, disablement
and decease. Providence compensation and complementary cover are subject to
performance conditions.
Board decisions of 2009, 2012, and June18-19, 2013 and February 18, 2015.
Dates of approval by the Annual Shareholders’ Meeting: 2009, 2012, 2013 and April21,
2015 (Fifth Resolution)