Allocation of Directors' fees
In accordance with the Board of Directors' Internal Rules, directors' fees are allocated as follows:
- Each Director receives a fixed fee, plus a variable fee based on his or her attendance at Board meetings.
- Members of Committees of the Board are paid a fixed fee equal to one-third of their fixed fee as a Director, plus a variable fee based on his or her attendance at Committee meetings.
In fiscal 2006-2007, payments were allocated as follows:
- € 16,000 fixed fee paid to each Director.
- € 1,600 per board meeting attended by the Director.
- € 5,000 fixed fee paid to each member of a committee of the Board.
- € 700 per committee meeting attended by the member.
The total amount of directors' fees paid for fiscal 2006 was € 455,200, out of the maximum of € 472,500 authorized by the general shareholders' meeting of 30st January 2007.
