IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 b) The shareholder ATPS-SGPS, SA. provided administrative and management ser- vices to the Group and in 2017 received from the investee Ibersol, Restauração, SA. a total of 900,000 euros for such services. One of the obligations of ATPS- -Sociedade Gestora de Participações Sociais, SA. under the service agreement with Ibersol, Restauração, SA. is to ensure that the directors of the Company António Carlos Vaz Pinto de Sousa and António Alberto Guerra Leal Teixeira perform their duties without the Company having to incur additional expense. The Company does not directly pay any remuneration to any of its executive directors. Given that ATPS-Sociedade Gestora de Participações Sociais, SA. is controlled in equal parts by the directors António Carlos Vaz Pinto de Sousa and António Alberto Guerra Leal Teixeira, out of the abovementioned total of 900,000 euros paid in 2017, each director received the amount of 450,000 eu- ros. The non-executive member receives annual remuneration of 6,000 euros. In view of the above, it is not possible to issue a statement on the remuneration policy of the members of the governing body of the company, particularly not a report containing the information mentioned in article 2.3 of Law 28/2009. c) The remuneration of the members of the Statutory Audit Commit- tee for 2017 was set at a fixed annual amount, payable twelve times a year. The individual members received the following annual remuneration: Chairman ( after 26 May ) - Dr. Carlos Alberto Alves Lourenço: € 5,940.00; Vice-Chairman(after26May)-Dr.ªMariaJoséMartinsLourençodaFoseca:€5,279.88; Member – Dr. Eduardo Moutinho Santos: €8,794.31; The general principles observed are essentially those that follow from the law, taking into account the activities actually performed by the above persons, the Company’s economic situation and the usual terms and conditions in comparable situations. The functions perfor- med by each member of the corporate governing bodies were considered in the most broadest sense of the activity actually performed, using the level of responsibility as an assessment pa- rameter. The weighting of the functions is considered in a broad sense, in the light of various factors, particularly the level of responsibility, the time spent and the value the member’s institutional role added to the Group. The size of the company and the degree of complexity of the assigned functions is also an important aspect. The combination of the abovementioned factors and assessment thereof serves to guarantee not only the interests of the post holders but also those of the Company. The remuneration policy we submit to the shareholders of the Company for approval is therefore based on the abovementioned parameters, consisting of the remuneration of the members of the corporate bodies in a gross fixed amount, paid in twelve monthly instalments 195