Maisons du Monde

Information about Julie Walbaum’s compensation - Seite 2

• The trigger threshold (at 90% of the target) entitles 50% of the shares that carry this condition
• The performance target (at 100% of the objective) entitles 100% of the shares that carry this condition
• Between the threshold and the performance target the actions under this condition are acquired in a proportional and linear manner

In case the number of free performance shares obtained as a result of the application of the above performance conditions would not be an integer, it will be rounded to the immediately lower unit.

The CEO will be required to retain, until the end of her term office, 40% of the shares granted until she holds a quantity of shares representing 2 years of base compensation. In view of this obligation of detention, the availability of performance shares is not conditional on the purchase of additional shares of the Company.

Then, the Board of Directors reaffirmed that the CEO could not use hedging products on the Company’s shares and all related financial instruments and took note of Mrs. Julie Walbaum's commitment not to use such hedging transactions, including on the free performance shares assigned.

Mrs. Julie Walbaum’s variable compensation for FY2019

During this meeting, the Board of Directors, based on the Remuneration Committee recommendation, fixed the variable remuneration of Julie Walbaum for FY2019.

It is recalled that during its meeting of March 22,  2019, the Board of Directors fixed the variable remuneration as follow: the gross annual variable bonus has a target value of 60% of her gross annual fixed compensation. The amount of the variable bonus can be set between 0% and 150% of the target value depending on the performance. The annual variable bonus ceiling is 90% of Mrs. Julie Walbaum’s annual fixed compensation. The benefit of this variable bonus is conditional on the achievement of both financial and non-financial objectives including corporate social responsibility / environmental responsibility criteria. Thus, the target variable bonus is structured as follows:

• Financial objective based on the Group's sales: 20% of the target variable bonus;
• Financial objective based on the Group’s EBIT: 50% of the target variable bonus;
• Non-financial objectives: 30% of the target variable bonus determined on the following detailed objectives:
  • 15% new organization of the Comex’s Company;
  • 10% new Strategic Plan determination;
  • 5% CSR priorities and objectives.

It is recalled that the terms of Mrs. Julie Walbaum’s compensation were approved by the General meeting of shareholders 3 June 2019.