5.8. Quantitative information on the remuneration of the Identified Staff

Below is a breakdown by area of activity of the total remuneration of the Identified Staff received in 2015, whose variable component will be paid according to the settlement and payment scheme established in the above sections. Payment will be complete in 2018, subject to the aforementioned “malus clauses”:

Table 79. Remuneration of the Identified Staff in 2015 (I)

(Thousand euros)

Remuneration of identified Staff 2015(1)	Total remuneration
Commercial Banking (2)	106,838
Investment Banking (3)	57,625
Asset Management (4)	8,831
Other (5)	101,606
Total Identified Staff	274,900

(1) Fixed remuneration received in 2015 and variable remuneration received in 2015 (2) Includes Retail and Commercial Banking, Corporate Banking and Insurance Activities. (3) Includes trading activities. (4) Includes Asset Management and Private Banking Activities. (5) Other activities, Executive and Non-executive Directors and other members of the Management Committee.

The following table gives aggregate information on the remuneration of the Identified Staff in 2015, broken down by type of employee and senior executive:

Table 80. Remuneration of the Identified Staff in 2015 (II)

(Thousand euros)

Renumeration of the Identified Staff in 2015(1)	Executive directors	Non-executive directors	Other senior executives	Rest of Identified Staff	Total Identified Staff
Total fixed fenumeration paid in 2015 (2)	4,534	3,833	11,065	149,287	168,719
Total variable renumeration paid in 2015 (3)	5,563	0	8,978	91,639	106,180
In cash	2,485	0	4,254	48,473	55,213
In shares or related instruments	3,078	0	4,724	43,166	50,968
In other instruments	0	0	0	0	0
Outstanding deferred variable renumeration (4)	4,499	0	6,958	53,161	64,618
Consolidated	0	0	0	0	0
Not consolidated	4,499	0	6,958	53,161	64,618
In cash	2,250	0	3,478	26,842	32,570
In shares or related instruments	2,250	0	3,480	26,319	32,048
In other instruments	0	0	0	0	0
Deferred remuneration granted and/or paid in 2015 (5)	2,942	0	3,894	22,982	29,818
Amount of explicit ex post performance adjustment applied in the year on remuneration paid in previous years	0	0	0	0	0
Number of beneficiaries	3	12	17	377	409
Number of employees receiving severance pay	0	0	0	19	19
Total severance pay paid in the year	0	0	0	42,574	42,574
Securitized positions	0		0	0	0

(1) Includes all the positions identified as Identified Staff in 2015. The distribution of the staff in different categories is made taking into account the position performed as of December 31, 2015 (2) Fixed remuneration, including in cash or in kind remuneration received in 2015. Moreover, In respect of provisions to cover the coverage of death and disability, they have been paid 316 thousand euros in the case of Executive Directors, and 543 thousand euros in the case of other Senior Executives. For the group Rest of Identified Staff this concept is already included in the fixed remuneration. (3) Includes the variable remuneration paid in 2015, both the part for 2014 and the deferred and updated part for previous years (one third of the AVR 2011 deferred, one third of the AVR 2012 deferred, one third of the AVR 2013 deferred and one third of the ILP 2010-2011 deferred). (4) Includes the deferred variable remuneration for previous years pending payment in 31-DEC-2015 (one third of the AVR 2012, two third of the AVR 2013 and deferred percentage of the AVR 2014). (5) Includes the deferred variable remuneration for previous years paid in 2015 (one third of the AVR 2013 deferred, one third of the AVR 2012 deferred, one third of the AVR 2011 deferred and one third of the ILP 2010-2011 deferred, as well as their updates).

Of the total compensation paid, the highest paid to a single member amounts to €7,944 thousand. Moreover, this beneficiary has been paid the equivalent of the amounts that the Group had provisioned to meet its contractual pension obligations for the amount of €11,458 thousand.

The annual variable remuneration of the members of the Identified Staff for 2015 was determined at the close of that year.

In accordance with the settlement and payment system established for the Identified Staff’s Annual Variable Remuneration in 2015, a percentage of the annual variable remuneration for 2014 will be paid in 2016 (50% in the case of executive directors and members of the Management Committee and 60% in all other cases), with the rest being deferred to be paid in 2019, subject to the multi-year indicators described in the above sections. This results in the following amounts:

Table 81. Remuneration of the Identified Staff in 2015 (III)

(Thousands of euros)

Remuneration for the Identified Staff corresponding to 2015 (1)	Executive directors	Non-executive directors	Other senior executives	Rest of Identified Staff	Total for Identified Staff
Amount of variable remuneration corresponding to 2015 received in 2014	3,051	0	6,950	60,269	70,270
In cash	1,526	0	3,475	30,135	35,135
In shares or related instruments	1,526	0	3,475	30,135	35,135
In other instruments	0	0	0	0	0
Amount of variable remuneration corresponding to 2015 that has been deferred (2)	3,051	0	6,950	40,292	50,293
In cash	1,526	0	3,475	20,146	25,146
In shares or related instruments	1,526	0	3,475	20,146	25,146
In other instruments	0	0	0	0	0
Number of beneficiaries	3	12	17	377	409

(1) Includes all the positions identified as Identified Staff in 2015. The distribution of the staff in different categories is made taking into account the position performed as of December 31, 2015. (2) Includes the amount corresponding to the deferred percentage of the RVA 2015. Variable remuneration best estimates included for Chile and Bolivia, where final ammounts have not been yet determined by the date of this report.

The number of employees receiving remuneration of 1 million euros or more is as follows:

Table 82. Number of people with total remuneration in excess of €1 million in 2015

Total remuneration in 2015 (1)	Number of people
Between 5 million and 6 million euros	1
Between 4,5 million and 5 million euros	0
Between 4 million and 4,5 million euros	0
Between 3,5 million and 4 million euros	2
Between 3 million and 3,5 million euros	1
Between 2,5 million and 3 million euros	2
Between 2 million and 2,5 million euros	3
Between 1,5 million and 2 million euros	10
Between 1 million and 1,5 million euros	39

(1) Sum of the fixed remuneration for 2015 and the variable remuneration generated in 2015 Variable remuneration estimates included for Chile and Bolivia.