Could they revise the performance target?

C-804-E Schneider Electric: Linking Payto ESG Schneider's 2019 Universal Registration Document followed the structure of the SSI and developed at length the six megatrends and 21 goals mentioned above (see Exhibit 4). It included a more detailed analysis of the company's extra-financial risks and opportunitiesll as well as specific information about the channels used to maintain a dialogue with its stakeholders and the internal structures in place to govern sustainability (e.g., the Sustainability Executive Committee, the Sustainability Department, and the Sustainability Communication Steering Committee).12 The document thus added to the information given in the Sustainability Report and the Integrated Report. The New Remuneration Policy The compensation amounts provided to the senior managers at Schneider involved five components: a base salary, an annual variable compensation, long-term incentive awards, pension cash benefits, and other benefits (see Exhibit 10). The annual variable compensation was determined based on four performance measures. Three of these were based on financial data: group organic sales growth, adjusted EBITDA margin (organic) improvement, and group cash conversion rate.13 The fourth metric was the SSI index, which was defined by the firm based on the SDGs given by the UN Global Compact (see Exhibit 4 for details related to the period 20182020 and Exhibit 5 for the version approved for the period 20212025). The payout opportunity was structured as foilows: (i) at threshold performance: % of the fixed compensation; (ii) at target: 130% of the fixed compensation; (iii) at maximum over-performance: 260% of the fixed compensation.The long-term incentive plan was defined based on earnings per share (EPS), relative tota! shareholder returns (TSR), and four ESG ratings (see Exhibit 11).14 The pension cash benefits inciuded a fixed amount and a variable amount to be determined based on the same metrics as the annual variable compensation. General employee benefits and perks were the other compensation items included. For the CEO, for example, this part of the compensation package included employer matching contributions to an employee savings 15 plan, profit sharing, a company car, and a supplementary Life and Disability scheme. The compensation packages of the top executives were also subject to termination clauses in the new plan. The current CEO, Jean-Pascal Tricoire, would be entitled to involuntary termination benefits in the case of a change of control or strategy, with the amount capped at twice the arithmetical average of the annual fixed and variable compensation paid over the last three years.16 It was also decided that the CEO would be entitled to noncompete compensation for a period