The variable compensation of Jean-Michel Etienne, which, if targets are met, may represent up to 100% of his fixed compensation without exceeding this percentage, would be based on:
In addition, as indicated in the compensation policy for the 2020 financial year, in the 2019 Universal Registration Document (see Section 3.2.1.1 “Exceptional items related to the Covid-19 pandemic”), the valuation of the performance of Jean-Michel Etienne takes into account, for the year 2020, without modifying his overall variable portion as a percentage of the fixed amount, his ability to manage the crisis by ensuring the health and safety of employees, maintaining smooth operations, protecting revenue and the client portfolios, rigorously managing costs, taking appropriate measures for the strict management of resources and the protection of the Groupe’s assets.
In accordance with the compensation policy adopted for the 2020 financial year, the Supervisory Board, after consulting the Compensation Committee, decided to take into account, in its assessment of the performance of Jean-Michel Etienne, the way in which the Covid-19 crisis was managed for the fundamental aspects set out in Section 3.2.2.3 of this document.