Annual Report 2010 - CMVM

Corporate Governance Report 2010I.18. Information on the intervention of the General Meeting regarding the approval of the main characteristics of theretirement benefits system extended to the members of the management and supervisory bodies and other senior managers,in observance of number 3 of article 248-B of the Securities Market Code.The Remuneration Committee is responsible for establishing all the amounts paid in this context to any retired former Directors, under allcircumstances.The Remunerations Committee is also responsible for establishing the supplementary pension schemes, under the terms of the provisions inarticle 22 of the Articles of Association.The General Meeting reserves the right to appoint the members of the Remuneration Committee which is exclusively competent to decideon these matters.I.19. Existence of a statutory rule establishing the duty to subject, at least every five years, to the General Meeting, themaintenance or elimination of the statutory rule establishing the limitation of the number of votes which can be held orexercised by a single shareholder individually or in a concerted manner with other shareholders.There is no statutory rule with these characteristics (cf. I.7).I.20. Indication of defensive measures which have the effect of automatically leading to a serious erosion of companyassets in the event of the transfer of control or change of the composition of the management board.There are no measures with these characteristics.I.21. Significant agreements of which the company is a party and which enter into force, are altered or cease in the eventof a change of control of the company, as well as the respective effects, unless, due to their nature, their disclosure wouldbe seriously harm the company, except if the company is specifically obliged to disclose this information due to otherlegal requirements.There are no agreements with these characteristics.I.22. Agreements between the company and members of the management board and senior managers, in observance ofnumber 3 of article 248-B of the Securities Market Code, which establish compensation in the case of resignation, unfairdismissal or termination of the work relation following a change in the control of the company.There are no agreements with these characteristics. The company follows the policy of not undertaking any payments related to the earlytermination of the exercise of duties by the Directors or other senior managers, as well as not signing any agreements relative to these matters.77