IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT 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 29 June 2020 approved the remuneration policy already in force, which has been implemented consistently and in this general meeting was present the President 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 2020 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 to align the interests of members of the board with the long-term interests of the Company as well as about the Company assess and discourage excessive risk assumption The directors’ remuneration policy is the responsibility of the Remunera- tion Committee, which will submit its proposals to the approval of the 260