IBERSOL Annual Report 2018

ANNUAL REPORT 2018 duties without additional expenses that the Company has to incur. The Company does not directly pay any remuneration to any of its execu- tive directors. Given that ATPS-Sociedade Gestora de Participações Sociais, SA. is controlled by the directors António Carlos Vaz Pinto de Sousa and António Alberto Guerra Leal Teixeira, out of the abovemen- tioned total of 900,000 euros paid in 2018, it is supposed that each director has received the amount of 450,000 euros. The non-execu- tive member receives annual remuneration of 6,000 euros, and has not received any other remunerations of any kind, namely performance bonuses, bonuses or any additional performance fees and / or any ad- ditional payments at the annual amount of 6,000 euros provided to by the company. The mentioned executive directors do not receive any other remuneration in other companies of the group nor have pension rights acquired in 2018. In view of the above, it is not possible to issue a statement on the remu- neration policy of the members of the governing body of the company, particularly a report containing the information mentioned in actual arti- cle 2.3 of Law 28/2009. c) The remuneration of the members of the Statutory Audit Committee for 2018 was set at a fixed annual amount, payable twelve times a year. The individual members received the following annual remuneration: Chairman – Dr. Carlos Alberto Alves Lourenço: € 9,900.00; Vice-Chairman – Dr.ª Maria José Martins Lourenço da Foseca: € 8,800.00; Member – Dr. Eduardo Moutinho Santos: €8,800.00; The general principles observed are essentially those that emerge from the law, taking into account the activities actually performed by the above persons, also the Company’s economic situation and the usual terms and conditions in comparable situations. The functions performed by each member of the corporate governing bodies were considered in the most broadest sense of the activity actually performed, using the level of re- sponsibility as an assessment parameter. 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 in- stitutional role added to the Group. The size of the company and the de- gree of complexity of the assigned functions is also an important aspect. 199