IBERSOL Annual Report 2018

ANNUAL REPORT 2018 Dr. Joaquim Alexandre de Oliveira e Silva: - Degree in Economics by Faculdade de Economia of Oporto´s University, having exercised the tax consultancy activity in the last five years. - Dr. António Maria de Borda Cardoso: – Degree in Economics by Fac- uldade de Economia of Oporto´s University. Retired in the last five years. 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 14 May 2018 approved the remuneration policy already in force, which has been implemented con- sistently and in this general meeting was present the majority of the Remuneration Committee members. The remuneration policies and practices of other groups of companies are not used as a benchmark in setting the remuneration of the mem- bers of the Board of Directors and Statutory Audit Committee and no policy has been established with regard to severance payments for di- rectors, as indicated in the statement of the Remuneration Committee attached to the Corporate Governance Report. The remuneration policy for senior managers is described in the state- ment of the Board of Directors attached to the Corporate Governance Report. The remuneration of senior managers includes no major or ma- terial variable components. The executive members of the Board of Directors are remunerated by the shareholder ATPS-SGPS, SA, which has subscribed a contract for services with Ibersol Restauração, SA. The non-executive member receives a fixed annual remuneration ( cfr. Annex 1. ) and no other remuneration of any kind. The total remuneration of the members of the Statutory Audit Com- mittee for 2018 was as follows: Chairman: 9,900 euros; Vice-Chairman: 8,800 euros; Member: 8,800 euros; and SROC: 25,000 euros. 173