Annual Report - EDP

: corporate governance :Executive Board of Directors in office until20 February 2012eurosEDPCompanies majorityheld by EDPFixed (2012) Variable (2011) Fixed (2012) Variable (2011)António Luís Guerra Nunes Mexia (Chairman) (1) 99,571.74 480,000.00Nuno Maria Pestana de Almeida Alves (2) 79,724.94 384,000.00João Manuel Manso Neto (3) 79,377.27 384,000.00António Manuel Barreto Pita de Abreu 76,448.59 255,051.35 83,936.76António Fernando Melo Martins da Costa 79,377.27 362,572.00Ana Maria Machado Fernandes 24,710.10 98,923.13 54,857.14 147,942.43Jorge Manuel Pragana da Cruz Morais 78,719.91 374,093.001) The remuneration paid to the Chairman of the Executive Board of Directors, António Luís Guerra Nunes Mexia, comprised the amounts regarding the offices of Chairman of the Board of Directorsof EDP – Energias do Brasil, S.A and Chairman of the Board of Directors of EDP Renováveis, S.A., corresponding, in this latter case, to 20% of the total remuneration.2) The remuneration paid to the Director Nuno Maria Pestana de Almeida Alves comprises the amounts regarding the offices of director in the companies EDP - Energias do Brasil, S.A.and EDP Renováveis, S.A, corresponding, in this latter case, to 20% of the total remuneration.3) The remuneration paid to the director João Manuel Manso Neto comprises the amount regarding the office of director in EDP Renováveis, S.A., corresponding to 20% of the total remuneration.Payments to the Chairman and members of the Executive Board include those relating to employeepension savings schemes. The amount of variable payments were based on the tax treatment of thecountry in which the Administrator had residence for tax. Amounts paid by companies majority heldby EDP regards solely the period when they are resident abroad.Executive Board of Directors in office after20 February 2012eurosEDPCompaniesmajority held by EDPFixed (2012) Fixed (2012)António Luís Guerra Nunes Mexia (Chairman) (1) 615,001.94Nuno Maria Pestana de Almeida Alves (2) 492,418.76João Manuel Manso Neto (3) 490,271.38António Manuel Barreto Pita de Abreu 472,182.45António Fernando Melo Martins da Costa 490,271.38João Manuel Veríssimo Marques da Cruz 263,685.92 211,625.65Miguel Stilwell de Andrade 491,739.001) The remuneration paid to the Chairman of the Executive Board of Directors, António Luís Guerra Nunes Mexia, comprised the amounts regarding the offices of Chairman of theBoard of Directors of EDP – Energias do Brasil, S.A and Chairman of the Board of Directors of EDP Renováveis, S.A., corresponding, in this latter case, to 20% of the total remuneration.2) The remuneration paid to the Director Nuno Maria Pestana de Almeida Alves comprises the amounts regarding the offices of director in the companiesEDP - Energias do Brasil, S.A. and EDP Renováveis, S.A, corresponding, in this latter case, to 20% of the total remuneration.3) The remuneration paid to the director João Manuel Manso Neto comprises the amount regarding the office of Chief Executive Officer and Vice-Chairman of the Board of Directorsof EDP Renováveis, S.A., corresponding to 80% of the total remuneration.The members of the Executive Board of Directors, João Manuel Veríssimo Marques da Cruz and MiguelStilwell de Andrade received, in 2012, as EDP Group employees and as a annual bonus granted inaccordance with the individual performance, a variable remuneration of EUR 75,000 and EUR 125,000,respectively.As set out in the policy in force, remuneration is structured to align the interests of members of theExecutive Board of Directors with the long term interests of the company. Therefore, taking into accountthe objective calculations associated to the remuneratory model approved in 2009, the RemunerationCommittee of the General and Supervisory Board fixed the variable multi-annual component ofremuneration attributable to each year for the 2009/2011 term of office:euroSEDPCompanies majorityheld by EDP2009 2010 2011 2009 - 2010António Luís Guerra Nunes Mexia (Chairman) (1) 618,233.00 570,374.00 720,000.00Nuno Maria Pestana de Almeida Alves (2) 494,587.00 442,290.00 576,000.00João Manuel Manso Neto (3) 494,587.00 442,290.00 576,000.00António Manuel Barreto Pita de Abreu 347,916.37 296,347.28 343,792.06António Fernando Melo Martins da Costa 494,587.00 393,261.00 488,724.00Ana Maria Machado Fernandes 167,207.79 154,403.21 191,883.67 364,021.79Jorge Manuel Pragana da Cruz Morais 494,587.00 407,270.00 516,576.001) The remuneration paid to the Chairman of the Executive Board of Directors, António Luís Guerra Nunes Mexia, comprised the amounts regarding the offices of Chairman of theBoard of Directors of EDP – Energias do Brasil, S.A and Chairman of the Board of Directors of EDP Renováveis, S.A., corresponding, in this latter case, to 20% of the total remuneration.2) The remuneration paid to the Director Nuno Maria Pestana de Almeida Alves comprises the amounts regarding the offices of director in the companies EDP - Energias doBrasil, S.A. and EDP Renováveis, S.A, corresponding, in this latter case, to 20% of the total remuneration.3) The remuneration paid to the director João Manuel Manso Neto comprises the amount regarding the office of director in EDP Renováveis, S.A., corresponding to 20% of thetotal remuneration.Note: The amount of variable payments were based on the tax treatment of the country in which the Administrator had residence for tax.EDP - Annual Report 2012131