Effective 18 November 2014, Roberto Melfa resigned from his position as director and member of the Appointments Committee.

Executives who, during the course of the year and together with the Chief Executive Officer, were permanent members of the Company’s Executive Committee.

Lorenzo Bini Smaghi - Chairman of the Board of Directors
(a) The amount includes fixed annual compensation set by the Shareholders' Meeting of 26 March 2013 (€ 40,000) and fixed annual compensation for awards approved by the Board on 26 October 2012 (€ 360,000)
(b) The amount includes the pro rata portion of annual compensation (€ 7,000) for participating as a member of the Appointments Committee (from 17.12.2014 to 31.12.2014 a total of € 288).

Carlo Malacarne - Chief Executive Officer
(a) The amount of € 860,000 corresponds to the actual gross annual compensation (set by the Board of Directors at its meeting of 27 February 2013) and includes compensation of € 40,000 set by the Shareholders’ Meeting of 26 March 2013 for the office of director. Added to this amount are the allowances payable in respect of travel expenses, both in Italy and abroad, in line with the relative National Collective Labour Agreement for Executives and the company's supplementary agreements, totalling € 5,500.
(b) The amount includes the payment of € 503,900 relating to the deferred monetary incentive awarded in 2011 and the payment of € 210,705 relating to the long-term monetary incentive awarded in 2011.

Alberto Clô - Director
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).
(b) The amount includes fixed annual compensation (€ 10,000) for participating in the Appointments Committee as Chairman.

Andrea Novelli - Director
(a) The amount includes the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000). This amount of compensation is paid to his company of origin (Cassa Depositi e Prestiti S.p.A.).
(b) The amount includes fixed annual compensation for participating as a member of the Remuneration Committee (€ 10,000) and for participating as a member of the Control and Risk Committee (€ 20,000). This compensation is paid to the company to which he belongs (Cassa Depositi e Prestiti S.p.A.)

Elisabetta Oliveri - Director
(a) The amount includes the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).
(b) The amount includes fixed annual compensation for participating as Chairman of the Remuneration Committee (€ 15,000) and for participating as a member of the Appointments Committee (€ 7,000).

Francesco Gori - Director
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).
(b) The amount includes the fixed annual compensation for participating as Chairman of the Control and Risk Committee (€ 30,000).

Pia Saraceno - Director
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).
(b) The amount includes fixed annual compensation for participating as a member of the Control and Risk Committee (€ 20,000) and for participating as a member of the Remuneration Committee (€ 10,000).

Roberta Melfa - Director¹⁶
(a) The amount includes the pro rata portion of fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000). This amount of compensation is paid to his company of origin (Cassa Depositi e Prestiti S.p.A.).
(b) The amount includes the pro rata portion of fixed annual compensation for participating as member of the Appointments and Control Committee (€ 7,000). This amount of compensation is paid to his company of origin (Cassa Depositi e Prestiti S.p.A.).

Sabrina Bruno - Director
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).
(b) The amount includes the fixed annual compensation for participating as a member of the Control and Risk Committee (€ 20,000).

Massimo Gatto - Chairman of the Board of Statutory Auditors
(a) The amount includes the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 60,000).

Leo Amato - Statutory Auditor
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).

Stefania Chiaruttini - Statutory Auditor
(a) The amount corresponds to the fixed annual compensation determined by the Shareholders’ Meeting of 26 March 2013 (€ 40,000).

Managers with strategic responsibilities
(a) The amount of € 1,041,000 corresponds to gross annual compensation. Added to this amount are the allowances payable in respect of travel expenses, both in Italy and abroad, in line with the relative National Collective Labour Agreement for Executives and the company's supplementary agreements, totalling € 9,600.
(b) The amount includes the payment of € 375,960 relating to the deferred monetary incentive awarded in 2011 and the payment of € 142,527 relating to the long-term monetary incentive awarded in 2011.

Effective 18 November 2014, Roberto Melfa resigned from his office as director and member of the Appointments Committee.