Remuneration

Directors’ fees are fixed by the Board of Directors, upon the proposal of the Remuneration Committee and following the opinion of the Board of Auditors, in compliance with the resolutions reached by the Shareholders’ Meeting at the moment of their appointment.

Statutory Auditors’ fees are fixed by the Shareholders’ Meeting at the moment of their appointment.  For the Board of Statutory Auditors in office, there is a Euro 64,000.00 fixed annual fee for the Chairperson and a Euro 48,000.00 fixed annual fee for each single standing statutory auditor.