The Council of Ministers held on November 7, 2008 adopted the draft bill amending the code of businesses to limit the amount of the severance pay of some managing agents and to draw a report of salaries in companies listed on the stock market. (Ref. 080877)
The draft bill only concerns the payments of “managing agents (executive directors, members of the board and people in charge of daily administration in companies listed on the stock market) after the end of a mandate or any executive function.” This measure determines a limit to the severance pay amounting to the 12 months preceding the end of the legal relationship. However, if the manager concerned “was professionally active for a very long time, the maximum pay amounts to three twelfth of t
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