Annual Report and Consolidated Account
014
145
In view of the above, it is impossible to issue a state-
ment on the remuneration policy of the members of
the governing body of the company, particularly not
a report containing the information mentioned in arti-
cle 2.3 of Law 28/2009.
c) The remuneration of themembers of the Audit Com-
mittee for 2014 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:
€ 8.785,92
The general principles
observed are essentially
those that follow from the law, taking into account the
activities actually performed by the above persons,
the Company’s economic situation and the usual
terms and conditions in comparable situations. The
functions performed by each member of the corpo-
rate governing bodies were considered in the most
broadest sense of the activity actually performed,
using the level of responsibility as an assessment pa-
rameter. The weighting of the functions is considered
in a broad sense, in the light of various factors, par-
ticularly the level of responsibility, the time spent and
the value the member’s institutional role added to
the Group. The size of the company and the degree of
complexity of the assigned functions is also an impor-
tant aspect. The combination of the abovementioned
factors and assessment thereof serves to guarantee
not only the interests of the post holders but also
those of the Company.
The remuneration policy
we submit to the share-
holders of the Company for approval is therefore
based on the abovementioned parameters, consisting
of the remuneration of the members of the corporate
bodies in a gross fixed amount, paid in twelvemonthly
instalments until the end of the year. In setting all re-
muneration, the general principles stated above were
observed: functions performed, situation of the Com-
pany and comparative criteria for equivalent degrees
of performance.
Oporto, 31 March 2015
Remuneration Committee,
Vítor Pratas Sevilhano, Dr.
Amândio Mendonça da Fonseca, Dr.
Don Alfonso Munk Pacin.
