IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 III. Remuneration Structure 69. Remuneration policy and performance assessment The remuneration policy of the corporate governing bodies is approved by the shareholders in General Meeting. The General Meeting of shareholders held on 26 Maio 2017 approved the remuneration policy already in force, which has been implemented consistently. The remuneration policies and practices of other groups of companies are not used as a ben- chmark in setting the remuneration of the members of the Board of Directors and Statutory Audit Committee and no policy has been established with regard to severance payments for directors, as indicated in the statement of the Remuneration Committee attached to the Cor- porate Governance Report. The remuneration policy for senior managers is described in the statement of the Board of Directors attached to the Corporate Governance Report. The remuneration of senior managers includes no major or material variable components. The executive members of the Board of Directors are remunerated by the shareholder ATPS-S- GPS, SA, which has subscribed a contract for services with Ibersol Restauração, SA. The non-executive member receives a fixed annual remuneration ( cfr. Anex 1.) and no other remuneration of any kind. The total remuneration of the members of the Statutory Audit Committee for 2017 was as follows: Chairman: 9,503.18 euros; Vice-Chairman: 8,843.06 euros; Member: 8,794.31 euros; and SROC: 59,500 euros. 70. Information about remuneration structure in order to align the interests of members of the board with the long-term interests of the Company as well as about the Company assess and discourage excessive risk assumption The directors’ remuneration policy is the responsibility of the Remuneration Committee, which will submit its proposals to the approval of the Company’s shareholders in the 2018 Annual General Meeting, in accordance with Annex 1. The general principles of the remuneration policy for the Audit Bodies and the Board of the General Meeting are as follows: a) Functions performed: - the nature and volume of the activity involved in the functions performed by each member of the abovementioned corporate governing bodies is taken into consideration, as well as the responsibilities assigned to each one. The members of the Statutory Audit Committee, the Board of the General Meeting and the Staturory auditor will not all occupy the same organizational or 177