Rizzoli Corriere della Sera Mediagrp : RCS MediaGroup Press Release – Information regarding contract of Ms. Laura Cioli

Milan, 03 August 2016 - RCS MediaGroup S.p.A. announced that the Company's Board of Directors, in its 03 August 2016 session, after having performed the appropriate verifications and necessary assessments and due to a general novation transaction that includes the mutually accepted termination of the employment contract with Ms. Cioli on 03 August 2016 and immediate termination of the administration contract inextricably linked to the employment contract, voted that Ms. Cioli be paid the gross amount of 3,750,000.00 euro.

The above sum will be paid at the time of signing a settlement agreement with a waiver by Ms. Cioli to any other demand or right however connected or resulting from past employment and administration contracts and their termination made to the Company and all other Group companies.

Ms. Cioli will also continue to be bound by a non-compete clause established with the manager in 2015, at the time of her hiring, referred to all of the competitors of the Group which operates primarily in the print and/or digital publishing sector, valid for all of Italy, for the duration of 6 months starting from the date of termination of employment with the Company. No other compensation is required to be paid to Ms. Cioli for the aforesaid non-compete obligations and their regular fulfilment, due to the fact that the non-compete clause payment constitutes 20% of the total amounts already paid to Ms. Cioli during her period of employment.

The compensation indicated above was determined in compliance and consistent with the indications of the Compensation Policy published by the Company, based on the obligations undertaken with Ms. Cioli in 2015 when she began her employment with the company. The settlement included herein was determined in consideration of the contribution provided by Ms. Cioli to the Company and based on the willingness she has shown to find a mutually acceptable solution to define all relations with the Group including taking into account the acquisition by Cairo Communication S.p.A. of the controlling stake in RCS MediaGroup S.p.A. based on a Combined Exchange and Tender Offer promoted by the same Cairo Communication S.p.A. on all of the shares of RCS MediaGroup S.p.A. and subsequent Settlement of the Offer on 22 July 2016 and the need to promote a fast and peaceful transition to a Board of Directors that can adequately represent the changed ownership structure of the Company, starting the initiatives for the development of RCS included in the '2017-2018 Integration Project' presented by the controlling shareholder.

Based on the total compensation determined as indicated above, the agreement is classified as a transaction with a related party pursuant to the Procedure adopted by the Company on the matter. Therefore, before approval by the Board of Directors, the transaction was examined by the Compensation Committee of RCS MediaGroup S.p.A. on 02 August 2016, composed exclusively of independent, unrelated directors, which expressed its favourable opinion to finalise the agreement.

For further information:
RCS MediaGroup - Media Relations
Maria Verdiana Tardi - +39 02 2584 5412 - +39 347 7017627 - verdiana.tardi@rcs.it
RCS MediaGroup - Investor Relations
Federica De Medici - +39 02 2584 5508 - +39 335 230278 - federica.demedici@rcs.it
www.rcsmediagroup.it