REMUNERATION STRUCTURE FOR DIRECTORS AS SUCH AND MAXIMUM ANNUAL AMOUNT Sample Clauses

REMUNERATION STRUCTURE FOR DIRECTORS AS SUCH AND MAXIMUM ANNUAL AMOUNT. The remuneration that corresponds to the directors by their status as such may include the following concepts within the legal and statutory framework: a) Fixed annual allowance Gamesa directors shall receive a fixed annual amount for their membership and position on the Board of Directors and its committees. b) Allowances for attendance Within the fixed quantitative limit in the previous 3 section, the Gamesa directors may receive allowances for attendance for each one of the Board of Directors and committees sessions that they effectively attend, regardless of the number of sessions held. In case of attendance by videoconference or other validly established means of intercommunication, the pay that the directors have a right to receive in concept of allowances for attendance will be equivalent to 50% of the pay mentioned in the previous paragraph. Furthermore, if the Director grants proxy, the right to receive allowances for attendance will not be provided in favor of the represented director. c) Statutory amounts and risk coverage The company shall pay the amount of the premiums corresponding to the public liability insurance policies for directors and executives, and the premiums corresponding to the policies of life insurance and capitalization for directors. Albeit the Corporate Governance Rules foresee the possibility of including contributions to welfare systems for pensions, this policy does not foresee such contributions as to the non-executive directors.
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