Supervisory Board
The members of the Supervisory Board, except for its Chairman, do not receive compensation from the Company, with the exception of a fee for attending meetings. This amount is distributed by the Supervisory Board to its members for their Board and Committee duties.
The overall amount of directors' fees to be paid is determined by the shareholders in accordance with applicable laws and distributed as follows:
- Half of the amount of directors' fees is distributed evenly among members of the Supervisory Board as a fixed component, with the Chairman and Vice-Chairman each receiving a double fee;
- A portion of the remainder is distributed among members of the Supervisory Board in proportion to their actual attendance at the meetings of the Supervisory Board, with the Chairman and Vice-Chairman each receiving a double fee;
- The remainder is allocated by the Supervisory Board to the various specialized Committees and distributed among their members in proportion to their actual attendance at Committee meetings, with the Chairmen of Committees receiving a double fee.
Due to the importance of their role and the significant demand on their time, members of the Audit Committee receive a higher proportion of directors' fees.
In addition of its directors' fees, Mr. Jacques de Chateauvieux receives as Chairman of the Supervisory Board an annual gross remuneration of €230,000.