DIRECTORS’ COMPENSATION

1. Directors have the right to receive

• annual compensation of an amount established by the Shareholders’ Meeting held on April 9, 2009;
• reimbursement of expenses occurred in performing their functions.

2. Directors holding particular positions (Chairman and Managing Director), pursuant to Article 2389, paragraph 3, of the Italian Civil Code, the Board of Directors then decides upon compensation for, after having received the Board of Statutory Auditors’ favourable opinion. In particulary:

• the Chairman’s compensation is fixed;
• whereas the Managing Director’s compensation is fixed and variable.

3. The Shareholders' Meeting held on April 21, 2010, resolved, in particular, to set up, for social security purposes, a leaving indemnity for the Managing Director only, tasking the Board of Directors to set the relevant terms, conditions and procedures.

STATUTORY AUDITORS’ COMPENSATION

The Statutory Auditors have the right to receive

• annual compensation as established by the Ordinary Shareholders’ meeting held on April 9, 2009;
• reimbursement of the expenses occurred for the exercise of their mandate.

REMUNERATION OF THE CEO AND MANAGERS WITH STRATEGIC RESPONSIBILITY

The following information is required under article 78 of Consob regulation 11971 of May 14, 1999 as emended.