Executive Committee members, including its Chairman (or CEO), have directorships in Group subsidiaries as a function of their responsibilities. Where such directorships are compensated, they are included in the amounts given above, regardless of whether the position is deemed to be salaried or undertaken on a self-employed basis under local legislation.
Executive Committee members will not benefit from any contractual departure indemnity linked to the exercise of their office. In case of early termination, only the legal system applies.
In the event of a decision to terminate Ms. Ilham Kadri's contract, she will be eligible for a contractual indemnity of 12 months of her total compensation target. In the event Ms. Ilham Kadri resigns after January 2021, she is subject to a non-competition clause of 12 months with no extra compensation.
Mr. Jean-Pierre Clamadieu’s contract does not include a termination indemnity. However, a 24-months non-compete undertaking is provided for in his contract and has been activated by the Company, resulting in the payment to Mr. Jean-Pierre Clamadieu of a non-compete indeminity of €1,960,000. There is no accelerated vesting applied to his existing LTI, which remain subject to performance.
The above is in line with Belgian Corporate governance requirements.
Mr. Roger Kearns resigned from Solvay on March, 31 without any indemnity related to his Executive mandate.