133
ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 2013
c) The remuneration of themembers of the Audit Com-
mittee for 2013 was set at a fixed annual amount,
payable twelve times a year. The individual mem-
bers received the following annual remuneration:
Chairman
– Dr. Joaquim Alexandre de
Oliveira e Silva: 8.785,92€;
Vice-Chairman –
Dr. António Maria
de Borda Cardoso: 8.785,92€;
Director –
Dr. Eduardo Moutinho dos
Santos: 5.710,83€;
The general principles
observed are essentially those
that follow from the law, taking into account the ac-
tivities actually performed by the above persons, the
Company’s economic situation and the usual terms and
conditions in comparable situations. The functions per-
formed by each member of the corporate governing
bodies, in the most broadest sense of the activity ac-
tually performed, using the level of responsibility as an
assessment parameter. The weighting of the functions
is considered in a broad sense, in the light of various
factors, particularly the level of responsibility, the time
spent and the value the member’s institutional role add-
ed to the Group. The size of the company and the de-
gree of complexity of the assigned functions is also an
important aspect. The combination of the abovemen-
tioned factors and assessment thereof serves to guar-
antee not only the interests of the post holders but also
those of the Company.
The remuneration policy
we submit to the sharehold-
ers of the Company for approval is therefore based on
the abovementioned parameters, consisting of the re-
muneration of the members of the corporate bodies in a
gross fixed amount, paid in twelve monthly instalments
until the end of the year. In setting all remuneration, the
general principles stated above were observed: func-
tions performed, situation of the Company and com-
parative criteria for equivalent degrees of performance.
Oporto, 31 March 2014
Remuneration Committee,
Vítor Pratas Sevilhano, Dr.
Amândio Mendonça da Fonseca, Dr.
Don Alfonso Munk Pacin.
