2014 Annual report
RU

Remuneration of the Auditing Commission

The amount and procedure of remuneration and benefits payment to the members of the Auditing Commission of the Issuer in 2014 was governed by the Regulations on Remuneration and Compensation Payment to the Members of the Auditing Commission of JSC IDGC of the North-West approved by the resolution of the Annual General Shareholder’s Meeting as of May 29, 2008.

According to the Regulations for participation in the check up (audit) of the financial and industrial activity of the Company, the member of the Auditing Commission gets lump-sum remuneration in the amount equal to 25 minimum monthly tariff rates of the first rate determined by the sector tariff agreement in the electric power complex of the Russian Federation (hereinafter referred to as Agreement) for the period of the checkup (audit) carrying out, considering the indexation determined by the Agreement.

Remuneration payable to the Chairman of the Auditing Commission of the Company shall be increased by 50%.

In addition, according to the Regulation, all expenses related to the participation in the meeting of the Auditing Commission and conducting the audit shall be reimbursed to the members of the Auditing Commission at the rates valid at the time of the meeting or audit, based on the travel expenses reimbursement standards.

The current system of the motivation of the members of the Auditing Commission positively influenced the productivity of the given control body.

In 2014, for their participation in the audit of financial and economic activity of the Company, members of the Auditing Commission were remunerated in the amount of RUB 1,147,500.