The amount of the allowance for attending Board of Directors sessions that can be charged to the Directors of INECO is limited to an annual amount of 11,994 euros, as provided in the second section of the Order Communicated by the Ministry of Finance and Public Administration of 8 January 2013, which approves the maximum amounts of compensation for attending Board of Directors sessions of state trading companies.
Said amount must be divided by six, which is the maximum number of annual sessions payable to Directors, by decision of the Board of Directors of INECO. Therefore, for each session of the Board of Directors, the attending Directors charge 1,999 euros in the form of meal allowances. If, in one year, it is necessary to hold more than six sessions of the Board, the Directors shall not receive any additional amount. On the other hand, if they participate in less than six sessions, they receive less than the maximum amount per year.
The amounts quoted in the previous paragraphs are not applicable to Directors who occupy Senior Positions, since they do not ask for any meal allowance. The amount that would correspond to them is deposited directly into the Treasury.
The meal allowances received for all members of the Board of Directors in the last financial year amounted to € 174,761.