2014 Registration Document and Annual Financial Report - page 135

3
Corporate GOVERNANCE
Interests and compensation
Both Sébastien Bazin and Sven Boinet were eligible for these
supplementary pension plans in 2014. The potential annuity
entitlements accrued in 2014 for Mr. Bazin and Mr. Boinet amounted
to €27,056 and €8,988 respectively. The actual payment of these
accrued entitlements will be subject to (i) Mr. Bazin and Mr. Boinet
meeting the plans’ eligibility criteria when they retire, and (ii) any
future changes to the applicable laws and regulations.
Unemployment insurance
A private insurance plan has been set up with
Association pour
la Garantie Sociale des Chefs et Dirigeants d’Entreprise
(GSC) to
provide the Chairman and Chief Executive Officer with unemployment
benefits should the need arise.The benefits under this plan would
be based on net taxable professional-source income for the
previous year, and would be payable as from the 31
st
unbroken
day of unemployment.
For Mr. Bazin, the maximum length of time that he could be paid
benefits under the plan was initially 12 months, and the total amount
of benefits was capped at €187,740 (based on the applicable rate
for 2014). However, as he has now been a member of the plan for
more than one year, the maximum length of time that he could be
paid benefits under the plan has been increased to 24 months, and
the total amount of benefits is now capped at €380,400 (based on
the applicable rate for 2015).
Analysis of directors’ and officers’ compensation
Analysis of compensation paid to executive officers
The following tables provide a summary of the total gross compensation and benefits paid and stock options and performance shares
granted by Accor to its executive officers for 2013 and 2014.
Table 1: Compensation, stock options and performance shares granted to each executive officer
in 2013 and 2014
Sébastien Bazin
Chairman and Chief Executive Officer since August 27, 2013
2013
2014
Compensation for the year (see Table 2 for details)
838,566
2,280,192
Value of stock options granted during the year (see Table 5 for details)
(1)
252,000
-
Value of performance shares granted during the year (see Table 11 for details)
(2)
-
1,655,000
TOTAL
1,090,566
3,935,192
Sven Boinet
Deputy Chief Executive Officer since December 2, 2013
2013
2014
Compensation for the year (see Table 2 for details)
50,000
1,329,654
Value of stock options granted during the year (see Table 5 for details)
(1)
-
-
Value of performance shares granted during the year (see Table 11 for details)
(2)
-
827,500
TOTAL
50,000
2,157,154
(1) Stock options may be exercised only if applicable performance and presence conditions are met.
In accordance with the AFEP/MEDEF Corporate Governance Code, stock options are measured at their theoretical value at the grant date rather than at the value
of the compensation received.This theoretical value was determined using the Monte-Carlo option pricing model for the performance stock options granted under
the September 26, 2013 plan.
(2) In accordance with the AFEP/MEDEF Code, performance shares are measured at their theoretical value – corresponding to Accor’s opening share price on the grant
date less the present value of unpaid dividends – rather than at the value of the compensation received. Performance shares are forfeited if the grantee leaves the Group
before the shares vest or if the performance conditions are not met. Further details on performance shares granted to Accor’s executive officers and the applicable
vesting dates are provided inTable 11 on page 140.
Registration Document 2014
133
1...,125,126,127,128,129,130,131,132,133,134 136,137,138,139,140,141,142,143,144,145,...332
Powered by FlippingBook