ANNUAL REPORT 2016
III . REMUNERATION
III.1
The remuneration of the executive members of the
board shall be based on actual performance and shall
discourage taking on excessive risk-taking.
Adopted
Part I
Numbers 69 to 79
of this Corporate
Governance Report.
III.2
The remuneration of the non-executive board
members and the remuneration of the members of the
Audit Committee shal not include any component whose
value depends on the performance of the company or
of its value.
Adopted
Part I
Numbers 69, 70.e
71. of this Corpo-
rate Governance
Report.
III.3
The variable component of remuneration shall be
reasonable overall in relation to the fixed component of
the remuneration and maximum limits should be set for
all components.
Not applicable
Part I
Numbers 69. to
76. of this Corpo-
rate Governance
Report.
III.4
A significant part of the variable remuneration
should be deferred for a period not less than three
years, and the right of the payment shall depend on the
continued positive performance of the company during
that period.
Not applicable
No such contracts
exist. Part I
Numbers 69. to 76.
of this Corporate
Governance Report.
III.5
Members of the Board of Directors shall not
enter into contracts with the company of with third
parties which intend to mitigate the risk inherent to
remuneration variability set by the company.
Not applicable
No variable remu-
neration is paid to
executive directors.
Part I
Numbers 69. to 76.
of this Corporate
Governance Report.
III.6
Executive board members shall maintain the
company’s share that were allotted by virtue of variable
remuneration schemes, up to twice the value of the total
annual remuneration, except for those that need to be
sold for paying taxes on the gains of said shares, until
the end of their mandate.
Not applicable
No variable remu-
neration is paid to
executive directors.
Part I Numbers 69.
to 76. of this Cor-
porate Governance
Report.
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