Compensation of Corporate Officers

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Of Corporate Officers [Abstract]

Disclosure of Compensation of Corporate Officers Explanatory

26. COMPENSATION OF CORPORATE OFFICERS

On September 2, 2019, the Board of Directors accepted the resignation of the Chairman and Chief Executive Officer of the Company and decided to separate the roles of Chairman of the Board of Directors and Chief Executive Officer of Genfit SA with effect from September 16, 2019.

At the same meeting, the Board of Directors appointed the Chief Executive Officer of the Company and confirmed the former Chairman and Chief Executive Officer in his functions as Chairman of the Board of Directors and member of certain committees of the Company's Board of Directors.

Under these conditions, the following table details the compensation paid to the Chairman and Chief Executive Officer in 2018 and during the period from January 1, 2019 to September 16, 2019, and the compensation paid to the Chief Executive Officer in 2020 and during the period from September 16 to December 31, 2019 (after the change in governance) and the years in which the amounts were recognized in the statement of operations.

Compensation paid to the Chairman	Year ended
during the period from January 1, 2019 to September 16, 2019	2018/12/31		2019/12/31		2020/12/31
Short-term employee benefits (gross + employer's social contributions, paid)		1,569		1,338		—
Post-employment pension & medical benefits		—		—		—
Share-based payment transactions		104		109		—
Director fees Genfit Corp (net)		30		22		—
TOTAL		1,703		1,469		—
Compensation paid to the Chief Executive Officer	Year ended
for the period beginning on September 16, 2019	2018/12/31		2019/12/31		2020/12/31
Short-term employee benefits (gross + employer's social contributions, paid)		—		140		534
Post-employment pension & medical benefits		—		—		—
Share-based payment transactions		—		—		41
Director fees Genfit Corp (net)		—		—		—
TOTAL		—		140		575

⁽¹⁾ Within this total, only the portion of the amounts paid in 2019 to the Chairman and Chief Executive Officer pursuant to  the 13th resolution of the Annual General Meeting of June 13, 2019, for the part of the Incentive Plan corresponding to that portion of work on the initial public offering of the Company on the Nasdaq Global Select Market carried out in 2018, i.e.,  ¾ of the amount due, i.e. a gross amount of €562,893. However, the Chairman of the Board of Directors decided to forgo the balance amount of €187,631, which had been recorded in 2019.  

The Chairman of the Board of Directors, Jean-François Mouney, receives a fixed compensation. He also has use of a company vehicle and the Group’s insurance and disability plan. These benefits are totaled in the tablebelow in the "Other remuneration" line. The Chairman of the Board of Directors also receives attendance fees granted for his participation in the work of some of the committees of the Board of Directors.

The Chief Executive Officer’s corporate contract contains a clause whereby, in the event of termination, he would receive a non-compete indemnity equal to:

(i) twelve (12) months of fixed compensation, calculated on the basis of the gross amounts due for the past twelve months ended and

(ii) increased, where applicable, by the amount of the annual variable compensation due for the previous year. This compensation is intended to compensate the prohibition made to the Chief Executive Officer, for a period of 12 months following the termination of his functions, for whatever reason, to work in any way whatsoever with certain companies carrying out a directly competitive activity of the Company.

In addition, the Chief Executive Officer, except in the event of gross negligence within the meaning of labor law, shall receive severance pay equal to:

(i) twelve (12) months of fixed compensation, calculated on the basis of the gross amounts due for the twelve past completed months and

(ii) increased, where applicable, by the amount of annual variable compensation due for the previous year. This compensation will be paid one month after his effective termination of activity within the Group. The compensation will not be paid if, on his initiative, the Chief Executive Officer leaves the Company to exercise new functions or changes functions within the Group, or even if he has the possibility of asserting in the short term his retirement rights. It is also specified that any sum paid under the non-competition clause will be deducted from the sums due under the severance pay and vice versa. The total and maximum commitment represented by this indemnity (gross, employer charges and payroll tax) as of December 31, 2020 would amount to €415.

The directors' fees and other compensation due and paid to the non executive directors are as follows:

	Amounts due*		Amounts paid*		Amounts due*		Amounts paid*		Amounts due*		Amounts paid*
Attendance fees and other forms of remuneration payable to each of the non executive officer	During the year ended December 31,
(in euros)	2018				2019				2020
Jean-François MOUNEY (1)
Attendance fees		—		—		14,791		633		49,937		49,939
Other remuneration (outside compensation as CEO)		—		—		88,874		88,874		286,469		286,469
Total		—		—		103,665		89,507		336,406		336,408
Xavier GUILLE DES BUTTES
Attendance fees		53,330		41,311		68,016		67,580		85,020		80,660
Other remuneration		—		—		—		—		—		—
Total		53,330		41,311		68,016		67,580		85,020		80,660
Frédéric DESDOUITS
Attendance fees		21,174		17,113		33,136		30,302		53,360		44,640
Other remuneration		—		—		—		—		—		—
Total		21,174		17,113		33,136		30,302		53,360		44,640
BIOTECH AVENIR
Represented by Florence Séjourné
Attendance fees		—		—		—		—		—		—
Other remuneration		—		—		—		—		—		—
Total		—		—		—		—		—		—
Philippe MOONS
Attendance fees		29,704		22,345		36,188		41,202		45,780		41,420
Other remuneration		—		—		—		—		—		—
Total		29,704		22,345		36,188		41,202		45,780		41,420
Anne-Hélène MONSELLATO
Attendance fees		37,075		24,307		44,472		53,410		50,140		45,780
Other remuneration		—		—		—		—		—		—
Total		37,075		24,307		44,472		53,410		50,140		45,780
Catherine LARUE
Attendance fees		21,256		17,985		33,136		28,122		43,600		43,600
Other remuneration		—		—		—		—		—		—
Total		21,256		17,985		33,136		28,122		43,600		43,600
Katherine KALIN
Attendance fees		—		—		—		—		15,805		4,360
Other remuneration		—		—		—		—		—		—
Total		—		—		—		—		15,805		4,360
Eric BACLET
Attendance fees		—		—		—		—		20,165		6,540
Other remuneration		—		—		—		—		—		—
Total		—		—		—		—		20,165		6,540
TOTAL		162,539		123,061		318,613		310,123		650,276		603,408

(1) The attendance fees and other remuneration for Jean-François Mouney above correspond to amounts due for the period from September 16, 2019 to December 31, 2019 and the full year 2020.

*

In addition, the Company has provided corporate officers, directors and members of the Executive Committee a “directors and officers” insurance against claims relating to certain actions they may take in the performance of their duties. For the 12 month of the calendar year 2020, the insurance premium for the implementation of this insurance coverage amounted to €1,316 ( €3,146 for 2019)