Remuneration of the Board of Directors

Remuneration for the Directors has been determined by the Shareholders’ Meeting as a fixed amount of 15,000 euro per Director (20,000 euro for the Chairman).

The total remuneration amounts for the executive directors also include a variable portion linked to the economic results achieved by the company (MBO).

The executive directors are also beneficiaries of the Performance Share plan, whose implementation is conditional on the pursuit of specific, annual economic-financial performance objectives. Non-executive directors are not beneficiaries of the Performance Share plan. There are no incentive plans based on stock options.

The table below indicates the remuneration paid to members of the Board of Directors in 2021.

Remuneration paid to directors in 2021

Name and surname	Office	Term of office	Base pay	Compensation for participation in committee	Bonuses and other incentives	Non-monetary benefits	Other compensation	Total	Fair value of equity remuneration
Marina Berlusconi	Chairperson	1 Jan 2021 31 Dec 2021	18,333.33^a 500,000^b					518,333.33
Ernesto Mauri	CEO	1 Jan 2021 27 Apr 2021	3,333.33^a 370,000^b			9,930	116,666.67^l	499,930
Antonio Porro	CEO	27 Apr 2021 31 Dec 2021	76,666.64^a-b 400,000.44^c		357,300	6,226.22	133,333.36^l	859,579.30	149,552.23
Alessandro Franzosi	Director	1 Jan 2021 31 Dec 2021	13,333.33^a 400,000.04^c		240,000	6,245.93	200,000^l	859,579.30	149,552.23
Paolo Ainio	Director	1 Jan 2021 27 Apr 2021	3,333.33^a					3,333.33
Pier Silvio Berlusconi	Director	1 Jan 2021 31 Dec 2021	13,333.33^a					13,333.33
Elena Biffi	Director	1 Jan 2021 31 Dec 2021	13,333.33^a	20,000^e 27,000^f				60,333.33
Valentina Casella	Director	27 Apr 2021 31 Dec 2021	10,000^a				10,000^o	20,000
Francesco Currò	Director	1 Jan 2021 31 Dec 2021	13,333.33^a					13,333.33
Martina Forneron Mondadori	Director	1 Jan 2021 27 Apr 2021	3,333.33^a					3,333.33
Paola Elisabetta Galbiati	Director	27 Apr 2021 31 Dec 2021	10,000^a	20,000				30,000
Patrizia Giangualano	Director	1 Jan 2021 27 Apr 2021	3,333.33^a	6,666.67^g				10,000
Danilo Pellegrino	Director	1 Jan 2021 31 Dec 2021	13,333.33^a					13,333.33
Roberto Poli	Director	1 Jan 2021 27 Apr 2021	3,333.33^a					3,333.33
Alceo Rapagna	Director	27 Apr 2021 31 Dec 2021	10,000^a	13,333.33^g				23,333.33
Angelo Renoldi	Director	1 Jan 2021 31 Dec 2021	13,333.33^a	25,000^e 23,000^f 23,333.33^g			20,000ⁱ	104,666.67
Mario Resca	Director	1 Jan 2021 27 Apr 2021	3,333.33^a					3,333.33
	Chairperson Mondadori Retail S.p.A.	1 Jan 2021 31 Dec 2021	120,000^a					120,000
Cristina Rossello	Director	1 Jan 2021 31 Dec 2021	13,333.33^a	20,000^e 2,000^f 21,666.67^g				57,000

KEY
a) emoluments approved by the competent bodies
b) compensation for the performance of key roles
c) base salary and/or fixed employee
e) Remuneration and appointments committee
f) Related parties committee
g) Control, Risk and Sustainability Committee
i) remuneration as member of the Supervisory and Oversight Body
l) non-compete agreement for 2021
n) in relation to two-years non-compete agreement, as described in Remuneration report 2021 (section II, head 2b)
o) remuneration as Lead Independent Director