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ANNUAL REPORT 2011
ANNEX II
BOARD OF DIRECTOR’S STATEMENT
UPON THE REMUNERATION POLICY OF
IBERSOL, SGPS, S.A. DIRECTORS
1. According to the competence established under
article 11º of IBERSOL, SGPS, SA. Association
Articles, the Board of Directors has the responsibility
to determine the general remuneration policy and
incentives for the Company’s Directors positions
and also, for all the administrative and technician
personnel.
2.Under thetermsofnumber3of thearticle248º-B
Securities Code, Directors are, besidesManagement
and Supervisory Bodies members, those who have
regular access to privileged information and take
part in the company’s decisions upon management
and negotiation strategy.
3. According to CMVM Recommendations upon
publicly listed companies’ corporate governance,
and to promote transparency, in order to comply
with Recommendations of Corporate Governance,
the Board of Directors submits to this General
Meeting this statement with the guidelines observed
to determine the mentioned remunerations, as
follows:
a) The remuneration policy adopted for Ibersol’s
Directors matches with the policy determined to
generality of the Company’s employees;
b) However, the Company’s Directors remuneration
contains a fixed remuneration and, an eventual
performance bonus;
c) The evaluation of the performance quality and
the performance bonus are established according
determined criteria previously defined by the Board
of Directors;
d) Therefore, behaviour factors of each Director,
namely, specific competencies to the function, its
level of responsibility, ability to adjust to company’s
management and procedures, autonomy level
of individual performance, will be attended to
determine an eventual performance bonus,
being also considered the technical and/or the
financial-economic performance in the Directors’
business sector, as well as the financial/economic
performance of IBERSOL.
Oporto, March 16th, 2012
Board of Directors.