77. BOARD OF DIRECTORS REMUNERATION
The remuneration of the members of the Board of Directors for the year ended on December 31st 2013 was as follows:
According to the Executive Management Services Agreement signed with EDP, EDPR is due to pay an amount to EDP, for the services rendered by the Executive Managers and the Non-executive Managers. The amount due to pay under said Agreement for the management services rendered by EDP in 2013 is EUR 994.335,61, corresponding, i) to the fixed remuneration of the Executive Managers, plus the variable component according to the Remuneration Policy, plus the PPR percentage, and ii) EUR 90,000, corresponding to the fixed remuneration of the Non-Executive Managers. The retirement savings plan for the members of the Executive Committee, excluding the Officers, acts as an effective retirement supplement and corresponds to 5% of their annual salary.
The non-executive directors may opt between a fixed remuneration or attendance fees per meeting, in a value equivalent to the fixed remuneration proposed for a director, taking into consideration the duties carried out.
In 2013, the remuneration of the Officers, as EDPR employees, excluding the Chief Executive Officer till, was the following:
78. REMUNERATION FROM OTHER GROUP COMPANIES
Due to the termination of the expatriation conditions of three Officers (CFO, COO EU and COO NA), new employment contracts were signed with other group companies, as follows:
- Gabriel Alonso with EDP Renewables North America LLC on December 31st, 2012;
- João Paulo Costeira with EDP Energias de Portugal, S.A. Sucursal en España on November 30th, 2013; and
- Rui Teixeira with EDP Energias de Portugal, S.A. Sucursal en España on October 31st, 2013.
In 2013, the remuneration of said Officers from the moment they became employees of the above referred companies, was the following:
79. REMUNERATION PAID IN FORM OF PROFIT SHARING AND/OR BONUS PAYMENTS
In EDPR there is no payment of remuneration in the form of profit sharing and/or bonus payments and the reasons for said bonuses or profit sharing being awarded.
80. COMPENSATION FOR RESIGNED BOARD MEMBERS
In EDPR there is no Compensation paid or owed to former executive directors concerning contract termination during the financial year.
81. AUDIT AND CONTROL COMMITTEE REMUNERATION
82. REMUNERATION OF THE CHAIRPERSON OF THE GENERAL SHAREHOLDERS’ MEETING
In 2013, the remuneration of the Chairperson of the General Shareholders’ Meeting of EDPR was EUR 15,000.