Table of Contents Table of Contents
Previous Page  258 / 269 Next Page
Information
Show Menu
Previous Page 258 / 269 Next Page
Page Background

Annual Accounts

258

Annual Report 2014 BME

32. Directors who give up their place before their tenure expires, through resignation

or otherwise, should state their reasons in a letter to be sent to all members of

the board. Irrespective of whether such resignation is filed as a significant event,

the motive for the same must be explained in the Annual Corporate Governance

Report.

See section: C.1.9

33. Remuneration comprising the delivery of shares in the company or other compa-

nies in the group, share options or other share-based instruments, payments

linked to the company’s performance or membership of pension schemes should

be confined to executive Directors.

The delivery of shares is excluded from this limitation when Directors are obliged

to retain them until the end of their tenure.

34. External Directors’ remuneration should sufficiently compensate them for the

dedication, abilities and responsibilities that the post entails, but should not be so

high as to compromise their independence.

35. In the case of remuneration linked to company earnings, deductions should be

computed for any qualifications stated in the external auditor’s report.

36. In the case of variable awards, remuneration policies should include technical safe-

guards to ensure they reflect the professional performance of the beneficiaries and

not simply the general progress of the markets or the company’s sector, atypical or

exceptional transactions or circumstances of this kind.

Partially complies

Explain

Not applicable

Complies

X

Partially complies

Explain

Not applicable

Complies

X

Partially complies

Explain

Complies

X

Partially complies

Explain

Complies

X

Partially complies

Explain

Complies

X