Annual Accounts and Report as at 30 June 2011 Draft - Mediobanca

l. Other informationCaps on variable remuneration: for some staff in some business segmentswhere there is a closer correlation to results, a cap has been provided as aprecaution.Guaranteed bonuses: these may be considered for particularly importantprofiles but only at the recruitment stage and for the first year of theiremployment by the company, as per the regulations in force.Staff are not allowed to use personal hedging or insurance strategiesinvolving remuneration or other aspects which could alter or otherwise distort thefundamental alignment of the compensation mechanisms with the company’s risk.* * *Dear Shareholders,We invite you to adopt the following resolution:“At an ordinary general meeting, having heard the Board of Directors’ proposal,the shareholders of Mediobanca,hereby resolve– to approve the staff remuneration policies for the 2010/2011 financial year, asillustrated in the Board of Directors’ report;– to approve the new staff remuneration policies as illustrated in the Board ofDirectors’ report;– to confer on the Board of Directors, the Chairman and the Chief ExecutiveOfficer, jointly and severally, the broadest powers to execute all deeds andperform all measures and formalities necessary in order to implement thisresolution”.Milan, 21 September 2011THE BOARD OF DIRECTORS– 505