Connect - Schneider Electric
Connect - Schneider Electric
Connect - Schneider Electric
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Pension benefits**<br />
French members of the Management Board are covered by the<br />
Group’s top-hat defi ned-benefi t pension plan (article 39) and, with the<br />
exception of Jean-Pascal Tricoire, supplementary defi ned- contribution<br />
pension plans (article 83) for employees and/or Group Managers.<br />
The benefi ts from defi ned-contribution plans are deducted from the<br />
pension supplement from the defi ned-benefi t plan.<br />
The defi ned-benefi t plan provides for a pension supplement of a<br />
maximum amount equal to 60% (1) of the difference between the<br />
average reference salary (i.e. the average of the base salary and of<br />
the remuneration during three calendar years prior to retirement)<br />
plus the total benefi t amounts granted under external plans<br />
(compulsory and other plans, where applicable). The pension plus<br />
the additional pensions from defi ned-contribution plans, may not<br />
Compensation of the Supervisory Board Members<br />
Chairman of the Supervisory Board<br />
Based on the recommendation of the Remunerations, Appointments<br />
and Human Resources Committee, at its meeting on April 22, 2010,<br />
the Supervisory Board decided to set the annual compensation of<br />
its Chairman at EUR500,000 not including the attendance fees paid<br />
to Supervisory Board Members.<br />
The Chairman of the Supervisory Board does not receive any stock<br />
options or stock grants and will not be entitled to any payment on<br />
leaving the Board.<br />
In 2011, Mr Henri Lachmann was paid:<br />
• in his capacity as Chairman of the Supervisory Board:<br />
EUR500,000;<br />
• in attendance fees for 2010: EUR60,000;<br />
• under the Company’s pension plan for senior executives:<br />
EUR558,276.<br />
Mr Lachmann has a Company car and may also use the<br />
chauffeur- driven Company cars made available to Group Senior<br />
CORPORATE GOVERNANCE<br />
MANAGEMENT INTERESTS AND COMPENSATION<br />
exceed 25% of the average reference salary. The defi ned-benefi t<br />
plan includes, subject to conditions, a right to 60% for the surviving<br />
spouse. Under the contingency section, an annuity for the spouse<br />
is paid if the executive dies before the retirement age. In the event<br />
of disability occurring in the course of business, the executive has a<br />
right to a pension supplement as of his/her sixtieth birthday.<br />
This defi ned-benefi t plan (see pages 260, 261 and 265 ) will be<br />
modifi ed as of July 1, 2012 in particular to provide for a progressive<br />
acquisition of the rights of these benefi ciaries according to how long<br />
they have been in the Group and on the Executive Committee.<br />
Non-French Members of the Board of Directors are covered by<br />
pension plans in line with local practices in their respective countries.<br />
Management. This benefi t in kind can be estimated for the entire<br />
fi nancial year at EUR2,279 .<br />
Members of the Supervisory Board<br />
The Annual Shareholders’ Meeting set total attendance fees at<br />
EUR1 million. The Supervisory Board has decided to allocate these<br />
fees as follows:<br />
• Board members and non-voting Members resident in France<br />
receive a basic fee of EUR15,000 and members resident outside<br />
France receive double this amount;<br />
• Board members receive a fee of EUR5,000 for each meeting they<br />
attend;<br />
• members who sit on the committees of the Board receive a fi xed<br />
fee of EUR15,000, with the Audit Committee Chairman receiving<br />
double this amount.<br />
(1) The maximum amount is defi ned as follows: 50% if the number of years of service is less than or equal to fi ve years, plus 1% per year from the<br />
sixth year of service for Senior Manager status.<br />
2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC<br />
125<br />
3