2015 Remuneration Policy guidelines

In line with previous years, the guidelines for 2015 reflect the decisions made by the Board of Directors with regard to the remuneration of executive directors in recent years and presented to the Ordinary Shareholders’ Meeting of 15 April 2014, which approved the 2014 Remuneration Report. For managers with strategic responsibilities, the 2015 Remuneration Policy identifies, in particular, short- and long-term incentive plans strictly in line with those of the top management, in order to better direct and align managerial actions over the short and long term with the objectives defined in the Company’s annual performance plans and Strategic Plan. The 2015 Remuneration Policy guidelines were defined in line with the declared objectives and general principles, and were evaluated by the Remuneration Committee to be in line with applicable market benchmarks. The monetary remuneration instruments specified are summarised and explained in the following chart:

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