51INFORME ANUAL Y DE RESPONSABILIDAD CORPORATIVA 2017

BReAKdoWN oF ReMuNeRATIoN eLeMeNTS

19% Fixed remuneration

13.6% Funds and pension plans

26.3% Bylaw stipulated emoluments

40.7% Variable remuneration

0.4% other remuneration

dIReCToRS ReMuNeRATIoN (Thousands of euros)

ReMuNeRATIoN oF SeNIoR MANAGeMeNT* (Thousands of euros)

8,130

6,598

6,043

2017

2016

2015

33% Fixed remuneration

7% Funds and pension plans

58% Variable remuneration

2% other remuneration

2017

2016

2015

4,091

4,484

5,979

* This does not include the executive director.

Regarding the remuneration for Cepsa Senior Management, it is also the Ap- pointments and Remuneration Commit- tee s responsibility to review and approve that remuneration and the policies gov- erning it. Remuneration is regulated by the Senior Management Remuneration policy, which is reviewed annually to en-

sure that objectives are met and that it is competitive. To this end, a very important factor in the Senior Management remu- neration package is the variable remu- neration linked to individual performance and to the financial, sustainability and op- erational objectives, both in the short and long term.

2017 ANNuAL ANd Co PoRATe ReSPoNSIBILITy EPORT