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DANONE Consolidated financial statements 2019 58 
Note 16. Related party transactions 
Note 16.1. Accounting principles 
The main related parties are the associated companies and the members of the Executive Committee and members of the Board of 
Directors. 
Note 16.2. Transactions with associates 
Transactions with these companies are generally carried out at arm’s length. They mainly involve management fees and royalties paid 
to Danone, services (mainly logistics) and financing.
As in 2018, the amounts pertaining to 2019 are not material. 
Note 16.3. Compensation and benefits granted to members of the Executive Committee 
and Board of Directors 
Compensation paid 
Year ended December 31 
(in € millions) 
2018 
2019 
Compensation paid to corporate officers and members of the Executive Committee 
(a)
12.2 
10.8 
Compensation paid to Directors 
(b)
0.7 
0.8 
Total 
12.9 
11.6 
 
Severance pay 
− 
− 
Carrying amount of shares subject to performance conditions granted during the year 
(c)
6.5 
6.8 
(a) Annual and multi-year fixed and variable compensation (gross amount excluding employer contributions), of which t
he variable portion totaled €5.7 
million in 2019 (€6.1 million in 2018). 
(b) Amount paid to eligible Directors, in respect of the retirement plan for their benefit for positions they held previously in the Group. 
(c) The carrying amount represents the full estimated value as of the grant date in accordance with IFRS 2 on the assumption that the performance 
conditions have been satisfied.
Danone’s commitment to the corporate officers and Executive Committee members with respect to 
their retirement plans
The amount of provisions for the defined benefit retirement plan represented Danone’s commitment as of December 31, 2019, in 
accordance with IFRS, i.e. 
a total of €26 million for corporate officers and Executive Committee members.
As regards Mr. Emmanuel FABER, through a letter dated January 25, 2019, with effect from April 24, 2019, he terminated his 
employment contract and waived his severance pay as well as his defined-benefit pension. The termination of his employment contract 
also put an end to the increase in his 
rights to the executives’ supplementary retirement plan as from April 24, 2019. The contributions 
paid by Danone in respect of this plan 
totaled €5 673 in 2019.