Corporate Governance Report
III.7
When the variable remuneration includes the
allocation of options, the beginning of the exercise
period shall be deferred for a period not less than three
years.
Não aplicável
No variable remu-
neration is paid to
executive directors.
Part I Numbers 69.
to 76. of this Cor-
porate Governance
Report.
III.8
When the removal of board members is not due to
serious breach of their duties nor to their unfitness for
the normal exercise of their functions but is yet do on
inadequate performance, the company shall be endowed
with the adequate and necessary legal instruments so
that any damages or compensation, beyond that witch
is legally due, is unenforceable.
Adopted
In such situations
the legal rules are
applied.
IV. AUDITING
IV.1
The external auditor shall, within scope of its duties,
verify the implementation of remuneration policies and
systems of the corporate bodies as well as the efficiency
and effectiveness of the internal control mechanisms
and report any short comings to the supervisory body
of the company.
Adopted
The external audi-
tor reports on the
audit work carried
out during the year
in the annual audit
report.
Part I, numbers 37
and 38 of this Cor-
porate Governance
Report.
IV.2
The company or any entity with which it maintains
a control relationship shall not engage the external
auditor or any entity with which it finds itself in a Group
relationship or that incorporates the same network, for
services other than audit services. If there are reasons
for hiring such services - which must be approved by
the Audit Committee and explained in its Annual Report
on Corporate Governance - said should not exceed more
than 30% of the total value of services rendered to the
company.
Adopted
Part I Number 46
of this Corporate
Governance Report.
186
