PERFORMANCE MEASUREMENT FOR 2020

ANNUAL VARIABLE COMPENSATION 

To ensure complete independence in the performance of his duties, the Chairman of the Board of Directors does not receive any variable compensation.

The Chief Executive Officer and Deputy Chief Executive Officer are eligible for individual variable compensation with a target set at 100% and 80%, respectively, of their fixed compensation, capped at 120% if the target is exceeded. The amount awarded for a given financial year is contingent on performance

This is based on criteria defined by the Board of Directors described below.

ANNUAL VARIABLE COMPENSATION CRITERIA

LONG-TERM INCENTIVE PLAN

Subject to the approval at the Annual General Meeting of 13 May 2020 of the thirty-ninth resolution, effective 2020, the Chief Executive Officer and the Deputy Chief Executive Officer are now eligible for the allocation of bonus performance shares, in order to strengthen their association with the creation of long-term value of Crédit Agricole S.A.

The number of shares awarded each year by the Board of Directors is capped at 20% of annual fixed compensation. The vesting of these shares will be conditioned in particular by the achievement of three demanding economic, stock market and societal performance conditions, assessed over a period of three years. The vesting will be followed by a two-year lock-up period.

The Chief Executive Officer and the Deputy Chief Executive Officer are required to retain, until the end of their term in office, 30% of the shares vested each year.