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The group insurance takes the form of a life policy and “1 year term
life” cover. This is recalculated annually and guarantees a death
benefit equal to, at the choice of the beneficiary, 0, 0.5, 1, 1.8, 2.7, 3.6
or 4.5 times the reference remuneration (i.e. the total sum of the fixed
remuneration allocated regularly plus an end-of-year bonus). The
overall annual budget is firstly assigned to the “Death” component and
the outstanding amount to the “Retirement” component. Liquidation at
term may take place, at the discretion of the beneficiary, in the form of
a lump sum or annuity.
In addition, the members of the Executive Committee have access to
an “Individual pension commitment” insurance plan intended exclu-
sively to pay a life insurance benefit or death benefit.
Other benefits
The annual costs of medical cover come to 4,107 EUR for the CEO
and 7,037 EUR for the other members of the Executive Committee.
Cofinimmo provides them with a company vehicle whose annual cost
for the company does not exceed 15000 EUR (excluding fuel). The
company reimburses them for all professional expenses they incur in
the context of their function. The members of the Executive Committee
also have a mobile phone at their disposal. The remuneration allocated
in this way to the members of the Executive Committee covers all the
benefits received within the Cofinimmo Group.
Remuneration of the Executive
Directors for financial year 2015
(in EUR)
CEO
1
Other members of the
Executive Committee
2
Fixed remuneration
349,300
760,000
Variable remuneration for the financial year
Total amount
209,580
468,000
in cash/in pension promises
104,790
234,000
in stock units
104,790
234,000
Savings and provident scheme
62,000
186,000
Other benefits
3
30,676
92,560
TOTAL REMUNERATION
651,556
1,506,560
Stock options granted
and accepted
4
Plan
2015
Plan
2014
Plan
2013
Plan
2012
Plan
2011
Plan
2010
Plan
2009
Plan
2008
Plan
2007
Plan
2006
Jean-Edouard Carbonnelle
2,050 2,050
1,600
1,600
1,350
1,350
1,350
1,350
1,350 1 ,350
Xavier Denis
0
0
0
-/-
-/-
-/-
-/-
-/-
-/-
-/-
Jérôme Descamps
1,600
-/-
-/-
-/-
-/-
-/-
-/-
-/-
-/-
-/-
Françoise Roels
1,600
0
0
1,600
1,350
1,000
1,000
1,000
1,000 1,000
1
-/- indicates that the concerned person being not any more, or not yet, member of the Executive Committee on the day of granting of the bonus shares.
2
The fair value of the ordinary share as at the provisional allocation date of 04.02.2016 being 96.53 EUR.
3
The fair value of the ordinary share as at the provisional allocation date of 05.02.2015 being 104.74 EUR, and the fair value of the ordinary share as at the final allocation date of
01.03.2016, being 97.70 EUR; the 2016 payable amount is increased with the gross dividend attributed since the provisional allocation date.
4
The fair value of the ordinary share at the provisional allocation date of 06.02.2014 being 87.28 EUR. and the fair value of the ordinary share as at the final allocation dates of 01.03.2015
and 01.03.2016 being respectively 109.16 EUR and 97.70 EUR. The in 2015 and 2016 payable amounts are increased with the gross dividend attributed since the provisional allocation
date.
5
Beginning 01.10.2014.
126
Corporate governance statement /
REMUNERATION REPORT