Remuneration to Members of the Management Board
In accordance with the Provision on Material Incentives and Social Package for Top Managers of JSC IDGC of the North-West approved by the resolution of the Board of Directors of June 15, 2011, members of the Company’s Management Board are also classified as top managers of JSC IDGC of the North-West. The remuneration system for members of the Management Board includes the following elements:
- Annual basic wages (amount of wages for the year according to the labor agreements).
- Remuneration for performance of functions of a member of the Management Board Provision on Material Incentives and Social Package for Top Managers of JSC IDGC of the North-West provides for an individual premium of 15% of the wage (in proportion to the amount of hours worked) to top managers for exercise of powers of a members of the Management Board.
- Premium payments in accordance with the Regulations on Material Incentives and Benefits for Top Managers of JSC IDGC of the North-West.
The size of bonuses of top managers depends on the fulfillment of key performance indicators (KPI) approved by the Board of Directors and General Director of the Company for the respective periods (quarter and year).