2007 Interactive Registration Document - Renault

The Chairman of the Board of Directors of Renault does not receive any variable
portion in respect of his function.
CORPORATE GOVERNANCE 04
INTEREST OF SENIOR EXECUTIVES
Accordingly, the total remuneration of the Chairman of the Board of Directors
was (in €):
ALL-INCLUSIVE VARIABLE PORTION
TOTAL
PAYMENT FOR DUTIES FOR THE YEAR,
DIRECTORS’ FEES FOR
REMUNERATION
FIXED AS CHAIRMAN OF THE PAID OUT THE IN-KIND THE YEAR, PAID OUT TOTAL ANNUAL PAID DURING
YEAR
PORTION BOARD OF DIRECTORS FOLLOWING YEAR BENEFITS THE FOLLOWING YEAR REMUNERATION
THE YEAR
2007 200,000 0 5,334 28,000 233,334 233,334
2006 (1) 900,000 200,000 0 5,692 28,000 1,133,692 1,567,026
2005 (May-December) (1) 600,000 133,334 (2) 0 4,926 28,000 1,366,260 2,192,926
2005 (January-April) 300,000 300,000
2004 900,000 1,260,000 4,899 28,000 2,192,899 1,982,899
(1) The renewal of the €900,000 fixed portion paid to the Chairman of the Board from May 1 is an amount close to that he would have received if he retired at that date.
(2) €200,000 for a full year.
The President and CEO and the Chairman of the Board of Directors also have
a supplementary pension scheme.
Further to the meeting of the Board of Directors on October 28, 2004, both
the President and CEO and the Chairman are entitled to benefi t from the
supplementary pension scheme set up for members of the Group Executive
Committee. This comprises:
n
n
a defi ned contribution scheme equivalent to 8% of annual remuneration,
paid for by the company and the benefi ciary;
a defi ned benefi t scheme capped at 30% of remuneration;
n
an additional defi ned benefi t scheme capped at 15% of remuneration (with
a specifi c requirement on length of tenure).
The combined total of these schemes – basic, supplementary and additional –
is capped at 50% of remuneration.
Currently, total retirement benefi ts, including supplementary benefi ts, to which
senior executives, including the President and CEO are entitled, are estimated
at between 30% and 45% of their fi nal remuneration, owing to differences in
seniority at Renault and on the Group Executive Committee.
4.4.2 STOCK OPTIONS GRANTED TO SENIOR EXECUTIVES AND CORPORATE OFFICERS
4.4.2.1 LEGAL FRAMEWORK
In its 14 th resolution, the Joint General Meeting of May 4, 2006 authorized the
Board of Directors to make one or more grants of stock options to employees of
the company and its related companies, in conformity with Article L. 225-180
of the Commercial Code. These options give holders the right to subscribe for
new shares of the company, issued in connection with a capital increase, or to
buy shares of the company lawfully repurchased by it.
If these options are exercised, the number of shares thus purchased or subscribed
shall not exceed 3.2% of the share capital at the date of the Meeting.
The General Meeting rules on the allocation and/or exercise of stock options
according to criteria of individual and collective performance in terms of
completion of the company’s medium-term plan.
In its 15 th resolution, the Joint General Meeting of May 4, 2006 authorized the
Board of Directors to make grants of existing shares or shares to be issued
to company employees or certain categories of employees and its related
companies, in conformity with Article L. 225-197-2 of the Commercial Code.
The total number of shares granted free of charge may not exceed 0.53% of
the sum of shares making up the share capital at the date of the Meeting.
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The General Meeting rules on the defi nitive allocation of existing shares or
shares to be issued according to criteria of individual and collective performance
in terms of completion of the company’s medium-term plan.
4.4.2.2 GENERAL GRANT POLICY
APPOINTMENTS AND REMUNERATION COMMITTEE
The Board of Directors approves the stock option plan on the basis of the report
of the Appointments and Remuneration Committee. The Committee examines
proposals from the President and CEO, to grant options to Group employees, in
compliance with the general arrangements set by the Annual General Meeting.
The President and CEO does not take part in the Committee’s proceedings
when the matter under review concerns him personally.
✦ Global Reporting Initiative (GRI) Directives Registration Document Renault 2007 145
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