Ubisoft 2013 Annual Report Download - page 142

Financial Statements
2013
137
RELATED PARTY TRANSACTIONS͓
͓
1.6.9.2
COMPENSATION OF MANAGERS OF THE COMPANY AND OF THE CONTROLLING AND/OR
CONTROLLED COMPANIES
͓
Senior management essentially comprises the corporate officers.
Messrs Guillemot are remunerated for their positions as CEO and Executive Vice Presidents.͓This is fixed
compensation and they do not have employment contracts.
The amount of the total gross compensation paid to executives during the year by the Company, companies
controlled by the Company and the companies controlling those in which they perform their duties, according
to IAS 24.16, was €724 thousand.
During the 2012/2013 financial year, members of the Board of Directors received €195 thousand in directors'
fees.
No commitments have been made by the Company in favor of its corporate officers related to their
termination or change in responsibilities.
There are no agreements to compensate Board members if they resign or are dismissed without real cause,
or if their employment is terminated due to a public offering.
03/31/13
03/31/12
Short-term benefits
(1)
927
904
Post-employment benefits
N/A
N/A
Other long-term benefits
N/A
N/A
Compensation for termination of employment contract
N/A
N/A
Share-based payments
(2)
152
346
TOTAL
1,079
1,250
N/A not applicable
(1)
Includes fixed compensation, benefits in kind and directors’ fees recognized for the financial year
(2)
This is the expense for the financial year for share-based payments calculated in accordance with IFRS2. No performance shares
were granted to the corporate officers of the Company
Section 4.5 of the Management Report contains a detailed description of the pay and benefits granted to the
corporate officers of the Group.
In accordance with Article L.225-43 of the French Commercial Code, no loans or advances were made to the
Company’s directors.
RELATED PARTY TRANSACTIONS
͓
The main relationships of the parent company with its subsidiaries relate to:
- Production subsidiaries billing the parent company for development costs based on the progress of
their projects.
- The parent company invoicing distribution subsidiaries for a contribution to development costs.
- The implementation of cash agreements allowing for centralized management at parent company
level of the bank accounts of the majority of the Group companies.
The other significant related party transactions are:
- Licenses invoiced to Gameloft SA for €1,191 thousand over the financial year. Trade receivables at
closing was €389 thousand
- The amounts paid in respect of development contracts to Gameloft SA, AMA Studios SA, AMA Ltd
and Longtail Studios Inc. totaling €4,909 thousand. The payable balance at year-end is €2,994
thousand. Balance sheet assets were €16,007 thousand at closing.
Ubisoft Divertissement SA has not bought back treasury shares from related parties.