Compensations

The compensation of the Board of Directors is determined by the Shareholders’ Meeting, while the compensation of the Chairman, the Chief Executive Officer and the Directors who serve on Board Committees is determined by the Board of Directors, upon a proposal by the Compensation Committee and based on the input of the Board of Statutory Auditors.

Initially, the compensation payable to the current Directors was determined by the Shareholders’ Meeting that elected them on April 02, 2019. It consisted of a fixed annual fee payable to each Director and an attendance fee for each meeting attended by each Director. The compensation of Directors that perform special functions or are members of Board Committees was determined by the Board of Directors.

Considered the Company’s Governance, executives with strategic responsibilities have not been identified.

The compensation of the Board of Statutory Auditors is determined by the Shareholders’ Meeting that elects them. The compensation of the Board of Statutory Auditors currently in office was determined by the Shareholders’ Meeting of April 28, 2020, setting it at a gross annual amount of 75,000 euros for the Chairwoman and of 50,000 euros for each standing Statutory Auditor. The compensation also includes an attendance fee of 1,000 euros for the Chairwoman and of 750 euros for each standing Statutory Auditor, for each meeting of the Board of Statutory Auditors or of the Board’s Committees attended by them, plus the reimbursement of the expenses actually incurred and duly documented.