IBERSOL | 2019 Annual Report

Corporate Governance Report 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 2019 was as follows: Chairman: 9,900 euros; Vice-Chairman: 8,800 euros; Member: 8,800 euros; and SROC: 25,000 euros. 70. Information about remuneration structure in order to align the in- terests of members of the board with the long-term interests of the Company as well as about the Company assess and discourage exces- sive risk assumption. The directors’ remuneration policy is the responsibility of the Remune- ration Committee, which will submit its proposals to the approval of the Company’s shareholders in the 2020 Annual General Meeting, in accor- dance 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 170