Amount

After comparing directors' remuneration with that of other CAC40 companies, it emerged that the members of Renault's Board received significantly less than directors of comparably sized firms. Accordingly, the Annual General Meeting on April 29, 2003 voted an annual amount of EUR600,000 (1) to be apportioned among the directors for the current year and subsequent years, until further notice. The Board is responsible for allotting these fees. 

(1) EUR600,000 corresponds to the median amount of directors' fees paid by CA companies. 

Rules for dividing directors' fees

The directors' fees for FY 2007 are apportioned according to the following criteria:

• a fixed portion, linked to the responsibilities arising from Board membership, i.e., an amount of up to €14,000 (the sum is calculated on a time-apportioned basis);
• a variable portion, linked to directors’ actual attendance, i.e., an amount of up to €14,000 (the sum is calculated on a time-apportioned basis);

Two additional payments may also be made:
• one for sitting on a committee, i.e., up to €4,500 (calculated on a time-apportioned basis);
• one for chairing a committee, i.e., up to €4,500 (calculated on a time-apportioned basis);

Total fees allocated to directors in 2007 amounted to €557,770 (€542,752 in 2006).

FY 2007

The Board met seven times in 2007.

(1) Fees allocated on the basis of Board membership, attendance of Board meetings, membership and/or chairmanship of one of the Board's committees. 
(2) Fees allocated to overseas directors correspond to the gross amount paid by Renault. 
(3) Representatives of the French state
(4) This is a director whose appointment began or ended during the year.      

In view of their conditions of office, some directors, particularly those representing the French state, waive their fees and pay them over to either the tax authorities or the trade union they represent.