2005 Annual report - Virbac

41
- Member of the Management board of Bio Véto Test SAS
(France),
- Director of Virbac Corporation (United States),
- Member of the Management board of Alfamed SAS
(France),
- Member of the Management board of Francodex SAS
(France),
- Member of the Management board of Virbac France SAS
(France),
- Director of Virbac Hellas SA (Greece),
- Director of Animedica SA (Greece).
Compensation of members of the Executive board
The compensation paid for the 2005 financial year relates to the fixed portion paid in 2005, the compensation for directorships
in Group companies paid in 2005, the variable portion paid in 2006 for 2005 and benefits in kind granted in 2005 (company car).
Member of the Executive board Fixed compensation Compensation Variable Total
(in euros) (including benefits for directorships compensation compensation
in kind)
in Group companies
Éric Marée 240,313 52,401 115,000 407,714
Pierre Pagès 158,265 52,401 60,000 270,666
Christian Karst 142,891 38,000 55,000 235,891
Michel Garaudet 149,972 - 35,000 184,972
Jean-Pierre Dick 30,638 - 15,000 45,638
The compensation paid for the 2004 financial year relates to the fixed portion paid in 2004, the compensation for directorships
in Group companies paid in 2004, the variable portion paid in 2005 for 2004 and benefits in kind granted in 2004 (company car).
Member of the Executive board Fixed compensation Compensation Variable Total
(in euros) (including benefits for directorships compensation compensation
in kind)
in Group companies
Éric Marée 218,302 50,481 42,500 311,283
Pierre Pagès 147,240 50,481 18,000 215,721
Christian Karst 131,824 38,000 16,000 185,824
Michel Garaudet 142,947 - 10,500 153,447
Jean-Pierre Dick 30,531 - - 30,531
Calculation criteria for the variable portion
The variable compensation of the members of the Executive
board depends on a series of shared goals:
◆ sales growth,
◆ rise in profit before tax,
◆ increase in return on capital invested.
.
As well as specific goals:
◆ purchasing savings,
◆ acquisitions (companies, products).
Other benefits
In addition to the various compensation items, members of
the Executive board enjoy the following benefits:
◆ a supplementary defined benefit pension plan (12.5% of
reference salary and 22% where over 30 years’ service)
granted on the basis of the following conditions:
- over 10 years’ service in the Group (including 9 years as
a member of the Executive board),
- be at least 60 years of age,
- finish his/her career in the Group.