The Board of Directors has implemented a formal procedure that is in effect:
i. To review, at least annually, salary structures and compensation policies and indemnification of the CEO and other senior executives, in order to detect and correct any incentives that these executives expose the company to risks that are not consistent with defined policies on the subject or the commission of any crimes.
Explanation: The Company adopts this practice by establishing that the compensation policies for managers and senior executives should include not only the goals achieved, considering EBITDA and the Company's net profits, but also other elements including compliance with individual objectives defined by upper management, related for example to compliance with the assigned budget, accident indicators, prevention of workplace accidents and client service indicators, among others.
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YES |
ii. That includes the advice of a third party external to the company that supports the Board of Directors, and the committee of Board Members when appropriate, in the review of that referred to in number i. above.
Explanation: The Company does not adopt this practice, given that they are functions which the Board of Directors deems itself capable of assuming directly, which does not limit the Board of Directors from contracting the advise of a third party if it is necessary.
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NO |
iii. That includes the dissemination of the salary structures and compensation policies and indemnification to the CEO and other senior executives, on the website of the company.
Explanation: The Company does not adopt this practice with the goal of not impacting the labor rights and the confidentiality that the Company adheres to in its executive plan.
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NO |
iv. That includes submitting such salary structures and policies to the shareholder approval.
Explanation: The Company does not adopt this practice because it is an attribute reserved by law for the Board of Directors as an entity.
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NO |
