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C.1.45
Identify on an aggregate and detailed basis the agreements reached between the Company and its
administration and management posts or employees that have indemnity payments, guarantee or lock-in
clauses, when such employees resign or are unfairly dismissed, or whether the contractual relationship
comes to an end as a result of a takeover bid or other type of transaction.
Number of beneficiaries
2
Type of beneficiary
Description of the resolution
DIRECTORS
When executive directors are hired, indemnity clauses may
be stipulated, applicable only during the first two years in
which the contract is in force and only in the event of a
unilateral termination by the company.
The maximum limit of such indemnity payment will be one
year's full salary.
Indemnity clauses may also be stipulated in the event of a
change in the Group's controlling shareholder, with a
maximum indemnity payment equivalent to an annual
payment of the director's full remuneration, including the
variable and fixed component.
EXECUTIVES
This type of clause is not common.
In certain exceptional cases, following individual negotiation
and motivated by the special interest the business might
have in contracting a specific professional, a special
compensation regime may be established, that can be
temporary or permanent, and in which the particular
circumstances of this contract and its future termination are
taken into account and assessed.
The general rule is that under no circumstances would a
takeover bid itself be grounds for the termination of an
employment contract and the payment of indemnity.
EMPLOYEES
Indicate whether these contracts must be disclosed and/or approved by the Company or Group bodies:
Board of Directors
Shareholders’ Meeting
Body that authorises
the clauses
X
YES
NO
Was the Shareholders’ Meeting informed of the clauses?
X
C.2
Board of Directors' Committees
C.2.1
Detail all the Board of Directors' committees, their members and the proportion of significant-
shareholder appointed and independent directors integrating them:
EXECUTIVE COMMITTEE
Name
Position
Type
Mr. José Creuheras Margenat
Chairman
Significant-shareholder
appointed
Mr. Maurizio Carlotti
Deputy Chairman Executive
Mr. Silvio González Moreno
Director
Executive