CLOUD
AFEP-MEDEF recommendations concerning the compensation of executive directors
At its meeting of December 17, 2008, the Board of Directors of Bull examined the recommendations issued by the AFEP and the MEDEF on October 6, 2008 concerning the compensation of executive directors at listed companies. The Board considers that the recommendations are in line with the company's corporate governance principles. Consequently, it is decided that Bull will expressly refer to the "AFEP-MEDEF Corporate Governance code" in producing the report outlined by article L.225-37 of the French Commercial Code, pursuant to the July 3, 2008 law transposing the European Community regulation 2006/46/CE dated June 14, 2006.