(Determination of Directors’ fees)
The Annual General Meeting, in accordance with the quorum and majority requirements applicable for Ordinary Meetings sets the maximum overall amount of Directors’ fees to be paid to Board members at EUR 1,300,000 per year until otherwise decided.
Presentation of the resolution
The fifteenth resolution proposes to increase the overall amount of Directors’ fees from EUR 975,000 to EUR 1,300,000. This proposal is justified by the substantial increase in the responsibilities and missions of financial institution Directors, in particular following the coming into force of CRD 4 provisions, resulting in an increase in their workload. The last increase in this overall amount dates back to 2010. Moreover, the current level was compared to that of peer institutions and was found to be one of the lowest.