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Corporate Governance Report
(hedging) or risk transfer, its boundary and
its relation to the face value of total annual
remuneration.
Not applicable, since it does not appear to apply
these criteria, and no variable remuneration, or any
criteria for retention of company shares, and/or
any type of contracts such as the above described.
h) Sufficient information about the criteria on
which the award of variable compensation in
options and indicate the period of deferral and
the exercise price.
There is no variable remuneration.
i) Identification of main parameters and
rationale for any annual bonus scheme and any
other non-cash benefits.
Not existent.
j) Remunerationpaid in the formof profit sharing
and/or bonus payments and the reasons why
such premiums and/or participation in profits
were allowed.
There is no such type of compensation.
l) Compensation paid or owed to former
executive directors following the termination of
his duties during the year.
There were not been paid or were owed any
damages to former executive for the cessation of
functions during exercise.
m) Reference to contractual limitation
provided for compensation to pay for dismissal
without just cause of the board of directors
member’s and its relationship with the variable
component of remuneration.
There is no contractual limitation provided for
compensation to pay for dismissal without just
cause of the board of director’s member’s, and
it doesn’t also exist the indicated relationship
with the variable remuneration component (this
component variable is not contractually stipulated).
n) Any amounts paid out by other companies in
a control or group relation.
There are no other amounts paid in any way by
other companies in a control or group relation. As
indicated in Chapter 0, Section 04. II.1.5.1, society
Shareholder ATPS - Sociedade de Participações
Sociais, S.A. provided administration and
management services to the group, having
received from subsidiary Ibersol, Restauração,
S.A., for such services, the amount of 756,034,00
euros in 2011.
o) Description of the main characteristics of
supplementary pension or early retirement