Hi
Richelieu. Now I am getting utterly confused.
I have never seen a Board of Directors/Conseil d'Administration of a private (meaning not State-owned) company operate as you describe. Actually, it would be against French law of Société Anonyme (and laws in most countries). Directors are individuals and vote as they wish. Each one has one vote whoever he/she "represents" or how he/she was appointed to the board. They do not vote with a proportion of "their" shares.
On the board of AFKL Group, there is one guy appointed by the French State (I think currently J.D. Comolli):
http://www.airfranceklm.com/fr/le-gr...t-dentreprise/
Propositions are formulated by the compensation committee (a group of directors) and discussed by the whole board. But each director has one vote. Of course, decisions are usually reached by consensus.
My question about who proposes/pays this bonus is not unsignificant because Société Air France is a subsidiary of AFKL with a structure inherited from its time a State-owned company. its board is quite different:
http://corporate.airfrance.com/fr/la...dministration/
But it is hard to get a clear picture of the AFKL legal structure.