(Fixing of the amount of the Directors’ fees)
Ruling under the quorum and majority conditions required for les Ordinary General Meetings, the General Meeting sets at € 975,000 the maximum annual amount to be paid to the Board of Directors as Directors’ fees, until it is otherwise decided.
Presentation of the resolution
The eleventh resolution limits to € 975,000 the maximum amount of Directors’ fees allocated, annually and until further notice, to the whole Board of Directors (which would now consist of 18 members compared with 14 before this General Meeting). This authorisation would replace that given by the General Meeting of 18 May 2005 and not revised since, which limited the annual amount of Directors’ fees to € 780,000. This increase would be justified by the large difference with the average level of comparable companies of the CAC 40 and by the temporary increase in the number of Board members, linked, in particular, to the integration of Fortis.