The Directorate General of Registries and Notaries has been through several resolutions to settle trade doctrine referred to the remunerationof the directors. The main points to be considered when fixing the remuneration are:

  • If the position of manager is paid the remuneration to be fixed by the bylaws. If not fix it, means that the performance of this positionis free.
  • The bylaws should determine the remuneration system and can do it well, by fixing an amount or by establishing the criteria and systems for determining the amount, being the competent body, the general meeting.
  • The systems generally admitted to reward managers both by law and by the doctrine and jurisprudence are; share in the profits of the company, transfer of shares, itemized assistance to boards and commissions, as well as payment in kind.
  • The application of a clause is allowed with a combination of two or more compensation systems with cumulative character andalways used when the conjunction “and”.