IBERSOL | 2019 Annual Report

2019 ANNUAL REPORT tónio Carlos Vaz Pinto de Sousa and António Alberto Guerra Leal Teixeira perform their duties without additional expenses that the Company has to incur. The Company does not directly pay any re- muneration to any of its executive directors. Given that ATPS-So- ciedade 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 abovementioned total of 1,000,000 euros paid in 2019, it is supposed that each director has received the amount of 500,000 euros. The non-executive member recei- ves annual remuneration of 6,000 euros, and has not received any other remunerations of any kind, namely performance bonuses, bo- nuses or any additional performance fees and / or any additional 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 2019. 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 2019was 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 Fonseca: € 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 abo- ve persons, also the Company’s economic situation and the usual ter- ms 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 responsibility 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 ins- 195