ANNUAL REPORT 2016
III. Remuneration Structures
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 April 2016 approved the remuneration policy
already in force, which has been implemented consistently.
The remuneration policies and practices of other groups of companies are not used as a
benchmark in setting the remuneration of the members of the Board of Directors and Audit
Committee and no policy has been established with regard to severance payments for direc-
tors, 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 statement of the Board of
Directors attached to the Corporate Governance Report. The remuneration of senior managers
includes no major or material 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. Anex 1.) and no other
remuneration of any kind.
The total remuneration of the members of the Audit Committee for 2016 was as follows:
Chairman: 8,785.92 euros; Vice-Chairman: 8,785.92 euros; Member: 8,785.92 euros; and
SROC: 35,500.00 euros.
70. Information about remuneration structure in order 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 Remuneration Committee, which
will submit its proposals to the approval of the Company’s shareholders in the 2017 Annual
General Meeting, in accordance with Annex 1.
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