 | | | | | Remuneration of managers and directors |
Private limited companies:
The manager has the right to receive a remuneration defined by the members, unless the articles of association establish otherwise.
The total or partial share of any profits of the company is not permitted, unless the articles of association contain a provision permitting a share of profits.
In regard to shareholder managers, the remuneration can be reduced by a law court on the request of any shareholder if they are deemed to be out of proportion with the work performed or with the company´s situation.
Public limited cimpanies:
The remuneration of each director is fixed by the shareholders’ general assembly or a committee appointed by the general assembly, taking into account the director’s duties and the financial situation of the company.
The compensation can be a fixed sum or be, in part, a percentage of the yearly profits, but the maximum percentage allocated to the directors must be authorized in the memorandum of association.
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