EssilorLuxottica entered into a service agreement with the French company Covivio S.A., among others, as real estate advisor, regarding its support in the management of EssilorLuxottica's real estate portfolio (the “Service Agreement”).
Since Jean-Luc Biamonti and Romolo Bardin are respectively Chairman of the Board of Directors and Director of Covivio S.A., this agreement is a related party agreement (“convention réglementée”) and was preliminarily authorized by the Board of Directors on May 15, 2023.
The remuneration that will be paid to Covivio pursuant to the Service Agreement will consist of an upfront fee of 115,000 euros and a success fee.
This amount of 115,000 euros represents 0,005% of the 2022 net profit of the EssilorLuxottica group.
