Unibanco's remuneration policy comprises the following
items:
• Fixed salary
• Profit-sharing program
• Long-term incentives
• Benefits
The fixed salary is the element on which all social charges are levied. Salaries are graduated and updated in line with market parameters and subject to collective bargaining procedures. An annual market survey is made of salaries in each of the group's business segments.
The Profit-sharing, a short-term incentive, is a variable component. All group employees are eligible for one of the existing programs. The baseline for all such programs is the net income of the businesses and of the group as a whole, and they are also linked to respective individual, the business unit's and the group's performance targets.
Regarding long-term incentives, the stock option program has been included since 2002, granting annual rewards to some of the bank's executives according to their performance and potential.
Benefits granted by the company include the following:
• Health plan
• Dental plan
• Private pension plan - with contributions by both the participant and
the company (company contributions may grow in line with annual ROAE)
>The Ordinary Shareholder Meetings establish the maximum overall remuneration for members of the Board of Directors, the Audit Committee and the Executive Board for the corresponding year.
>Members of the Board of Directors, the Audit Committee and the Executive Board may participate in the same private pension plan as all other Unibanco employees.
Stock option program
Unibanco has a stock option program intended to foster the long-term commitment of the Company's executives to the highest performance standards, as well as attract, retain and motivate new talents.
Pursuant to this program, Unibanco's executives can be granted stock or unit options that can be exercised between 3 to 6 years. The option rights are limited to 1% of the authorized capital per year and the amount granted is limited to 10% of the authorized capital, as a whole.
The objective of the stock option plan is to foster high performance, long-term commitment as well as attract, retain and motivate our directors and officers.
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