IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT V.2.3. For each term of office, the remuneration committee or the general meeting, on a proposal from that committee, should also approve the maximum amount of all compensations payable to any member of a board or committee of the company due to the respective termination of office. The said situation as well as the amounts should be disclosed in the corporate governance report or in the remuneration report. Not applicable 76, 83 and 84 V.2.4. In order to provide information or clarifi- cations to shareholders, the chair or, in case of his/her impediment, another member of the re- muneration committee should be present at the annual general meeting, as well as at any other, whenever the respective agenda includes a mat- ter linked with the remuneration of the members of the company’s boards and committees or, if such presence has been requested by the share- holders. Adopted 69 V.2.5. Within the company’s budgetary limita- tions, the remuneration committee should be able to decide, freely, on the hiring, by the com- pany, of necessary or convenient consulting ser- vices to carry out the committee’s duties. Not applicable 67 V.2.6. The remuneration committee should en- sure that those services are provided indepen- dently and that the respective providers do not provide other services to the company, or to oth- ers in controlling or group relationship, without the express authorization of the committee. Not applicable 67 V.2.7. Taking into account the alignment of inter- ests between the company and the executive di- rectors, a part of their remuneration should be of a variable nature, reflecting the sustained per- formance of the company, and not stimulating the assumption of excessive risks. Not applicable 69, 70 to 74 276