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2009 REGISTRATION DOCUMENT INCLUDING THE FINANCIAL REPORT
53
15. OFFICERS' INTERESTS AND REMUNERATION
15.1. REMUNERATIONOF EACH CORPORATE OFFICER
At its meeting of May 12, 2009, the Board approved the recommendations of the Remuneration Committee's report dated May
12, 2009, concerning the Company management's current remuneration packages. It set the amount of compensation to be
granted to executives on both the fixed and the variable portions of their package. As a result of the Board meeting the officers'
salaries were increased as follows:
•
CEO - Etienne Frechin: 2%;
•
Group Deputy CEO - Dominique Henryon: 3.50%;
•
Group Head of Quality - Alain Masson 3% allowance, official pharmacist increased to 1,320 Euros per month;
•
Group Deputy CEO - Strategy and Development - Mattieu Frechin: 4%.
These increases took effect retroactively from 1 January 2009.
Bonuses on 2009 targets are:
•
Chief Executive Officer - Etienne Frechin: 238,000 (50% on Revenue 50% on ROCE);
•
Group Deputy CEO - Dominique Henryon: 130,590 euro (50% on Revenue, 50% on ROCE);
•
Group Deputy CEO - Strategy and Development - Mattieu Frechin: 51,750 Euros.
A system was set up for reducing the bonus for non-achievement of objectives, or for paying extra if exceeding them (Revenue
and Group ROCE).
15.1.1. Summary table of remuneration, options and shares granted to each executive director
Etienne Frechin,
CEO
Year 2008
Year 2009
Compensation due for the year (detailed in Table 2)
340,740
502,206
Valuation of options granted during the year (detailed in Table 4)
0
0
Valuation of performance shares granted during the year (detailed in Table 6)
0
0
TOTAL
340,740
502,206
Matthieu Frechin,
Deputy CEO
Year 2008
Year 2009
Compensation due for the year (detailed in Table 2)
167,155
201,655
Valuation of options granted during the year (detailed in Table 4)
0
0
Valuation of performance shares granted during the year (detailed in Table 6)
0
0
TOTAL
167,155
201,655
Dominique Henryon,
Deputy CEO
Year 2008
Year 2009
Compensation due for the year (detailed in Table 2)
378,680
478,654
Valuation of options granted during the year (detailed in Table 4)
0
0
Valuation of performance shares granted during the year (detailed in Table 6)
0
0
TOTAL
378,680
478,654