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Our Variable Compensation Plan (VCP), which is associated with the Performance Appraisal Program seeks to align employees with corporate goals, recognize high performance, and strengthen compensation competitiveness. There is a corporate VCP which targets executives, top, and middle management which goes from 22.6% to 40% of the compensation of employees. Also, there are local VCP focused on specialists and other employees which is approximately 8.1% of the compensation of such employees (see table 1). This system is based on KPIs aligned with strategic business objectives such as EBITDA, net profit, cash flow, lost time injury frequency rate and severity rate, environmental indicators, external customer satisfaction, innovation, among others. KPI’s weight between 10% and 50% of the board of KPI’s. Compensation guidelines and the most relevant goals are validated by the Variable Compensation Committee and approved by the Appointment and Remuneration Committee of the Board of Directors. Once goals are defined, they are deployed within the company. 

As it VCP seeks to align the employees with corporate results, our VCP goals are associated to the strategic priorities of the company articulating initiatives which allows the achievement of the company strategy.

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