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Annual Report 2015

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Remuneration to Members of the Board of Directors’ Committees

1.3 RUB million The total remuneration paid out in 2015 for participation in the meetings of the Board of Directors’ Committee

Types, amount, and procedure for the payment of remunerations and compensations to the members of Committies of the Board of Directors are governed by the Regulations for Remuneration and Compensation to the Members of the Board of Directors’ Committees See the full text of the Regulations on Remuneration and Compensation to the Members of the Board of Directors’ Committees on the website of IDGC of the North-West. approved by the Board of Directors of the Company on August 25, 2009.

The Regulations stipulate remuneration for every meeting a member of the Board of Directors attends.

  • For participation in the meeting of the Board of Directors’ Committee held in absentia, a member of the Committee of the Board of Directors receives payment equal to one minimum monthly tariff of a grade 1 worker established by the Tariff Agreement in the Power Sector of the Russian Federation applicable on the date of the meeting with indexation stipulated by the Agreement.
  • For participation in the meeting of the Board of Directors’ Committee held in the form of joint presence a member of the Committee receives payment equal to two minimum monthly tariffs of a grade 1 worker established by the Agreement applicable on the date of the meeting with indexation stipulated by the Agreement.

The remuneration paid to the Chairman (Deputy Chairman) of the Committee for each meeting where he/she acts as the Board of Directors’ Chairman is increased by 50%.

Furthermore, the Regulations for Remuneration and Compensation to the Members of the Board of Directors’ Committees stipulate compensation of almost all expenses incurred in relation to the functions of a member of the Board of Directors’ Committee for expenses related to participation in meetings of the Board of Directors’ Committee.

Remunerations and compensations are not paid to members of the Committees who are sole executive body of the Company, members of the Company’s Management Board, or government officials.

The total remuneration paid out in 2015 for participation in the meetings of the Board of Directors’ Committee is RUB 1,304,844. Remuneration was paid out to the members of the Board of Directors’ Committee elected on July 18, 2014.

The Regulations for Remuneration and Compensation to the Members of the Committees of the Board of Directors of the Company were amended by the Board of Directors of the Company on December 29, 2015.

The new vision of the Regulations stipulates that remunerations to the Chairman or members of the Board of Directors’ Committees who are simultaneously members of the Company’s Board of Directors are governed by the Regulations for remuneration and Compensation to the Members of the Board of Directors.

Remuneration to the members of the Board of Directors’ Committees elected to the Committees in 2015 for participation in the meetings in 2015 was paid in the first quarter of 2016 after the Company’s Board of Directors resolved to amend the Regulations on Remuneration and Compensation to the Members of the Board of Directors’ Committees due to the introduction of a new remuneration payout system for the members of the Company’s Board of Directors.

Remuneration Personal remuneration paid out to members of the Board of Director’s Committee is described in Appendix 23. paid to the Board of Director’s Committee members in 2015 (RUB)
Full name Remuneration for participation in the Board of Directors’ Committee’s meetingsIn 2015, the following minimum monthly tariff rates applied to the remuneration for the participation in the Board of Directors’ Comittee’s meetings: RUB 6,372 from January 01, 2015 and RUB 6,914 from December 01, 2015
Audit Committee
Members of the Committee elected on July 18, 2014 344,856
Members of the Committee elected on August 13, 2015 0
Total in 2015 344,856
Personnel and Remuneration Committee
Members of the Committee elected on July 18, 2014 258,066
Members of the Committee elected on August 13, 2015 0
Total in 2015 258,066
Strategy and Development Committee
Members of the Committee elected on July 18, 2014 437,484
Members of the Committee elected on August 13, 2015 0
Total in 2015 437,484
Reliability Committee
Members of the Committee elected on July 18, 2014 (with amendments dated December 30, 2014) 181,602
Members of the Committee elected on August 13, 2015 0
Members of the Committee elected on December 11, 2015 0
Total in 2015 181,602
Committee for Technical Connection to Electric Power Grids
Members of the Committee elected on July 18, 2014 82,836
Members of the Committee elected on August 13, 2015 0
Total in 2015 82,836