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Remuneration

Solidium complies with the applicable guidelines issued by the Cabinet Committee on Economic Policy regarding the executive management remuneration and pension benefits in state-owned companies.

The General Meeting decides on the remuneration paid to the Board of Directors. The fee paid to the Chairman and members of the Board of Directors consists of a fixed monthly salary and meeting fees, which are paid in cash. The Annual General Meeting confirmed that the Chairman of the Board of Directors shall receive a fee of EUR 5,500 per month, the Vice Chairman of the Board of Directors EUR 3,000 per month and the members of the Board of Directors EUR 2,500 per month. In addition, a fee of EUR 600 was confirmed for each meeting.

The Board of Directors decides on the remuneration and other terms and conditions of the employment relationship of the Managing Director. The remuneration of the Managing Director consist of a fixed monthly salary of EUR 37,000 and an annual performance bonus of a maximum of 30 per cent of the fixed salary. The pension benefits and the retirement age of the Managing Director are determined according to the Employees' Pension Act.

The Board of Directors decides on the remuneration of the Management Team. The remuneration of the Management Team (excluding the Managing Director) consists of a fixed monthly salary and an annual performance bonus of a maximum of 30 per cent of the fixed salary paid during the year of evaluation. 

The remuneration of the rest of the personnel of Solidium consists of a fixed monthly salary and an annual performance bonus of a maximum of 30 per cent of the fixed salary paid during the year of evaluation.