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ANNUAL REPORT 2011
RECOMMENDATIONS (Corp. Gov. Code)
COMPLIANCE
II.1.5.2. The statement on the remuneration policy of the
managing and supervisory bodies set forth in article 2nd of Law n.º
28/2009, of 19th of June, shall contain, beyond the contents there
referred, sufficient information: i) regarding which companies groups
remuneration policy and practices were taken as a comparative
element to the determination of the remuneration; ii) regarding
payments related to the dismissal or termination by agreement of
director’s functions.
Not complied with See Chapter 0
Point 04, II.1.5.2
II.1.5.3. The statement on remuneration policy set forth in
article 2nd of Law n.º 28/2009 shall also include the remunerations
of other managers, in the sense of number 3 of article 248th-B
of the Securities Code, whose remuneration contains an important
variable component. The statement shall be detailed and the policy
presented shall take into account, namely, the company’s long-
-term performance, the compliance with norms applicable to the
company’s activity and the contention in risk-taking.
Not complied with See Chapter 0
Point 04.II.1.5.3
II.1.5.4. A proposal on the approval of share distribution and/or a
share option plan based on variations in share price to members of
the managing and supervisory bodies and other company officers, as
set forth in number 3 of article 248th of the Securities Code, shall
be submitted to the General Meeting. The proposal shall contain all
the information necessary for a proper assessment of the plan and
shall be accompanied by the plan’s regulation, or, in case this has yet
to be drafted, by the general conditions that shall govern it. Likewise,
the main features of the pension benefits system established in
favour of members of the managing and supervisory bodies and
other company officers, as set forth in number 3 of article 248th of
the Securities Code, shall be approved by the General Meeting.
Complied with
See Chapter I
Point I.17 and
I.18