OJSC Kubanenergo
RussianEnglish (United Kingdom)


Remuneration to Members of the Board of Directors

Procedure for the calculation and the payment of remuneration and compensations to the members of the Board of Directors is governed by the Regulations on Remuneration and Compensations to the Board of Directors Members approved by the annual General Meeting of Shareholders (Minutes No.23 of 06.06.2008).

In accordance with these Regulations, remuneration to the members of the Board of Directors shall be calculated as follows:

  • for participation in the meeting, a member of the Board of Directors receives payment equal to three (in case of absentee voting) or five (in case of joint attendance) minimum monthly wage rates of the first-class worker established by the industry wage agreement in the RF power complex at the date of holding of the meeting of the Company Board of Directors, with account of indexations; the amount of remuneration paid to the Chairman (Deputy Chairman) of the Board of Directors increases by 50 % for every meeting, at which he/she performs the functions of the Chairman of the Board of Directors.
  • Members of the Board of Directors receive additional remuneration for achievement of the net profit index of the Company according to the data of the annual financial statements adopted by the General Meeting of the Company’s Shareholders, as well as in case of increasing the amount of the Company’s market capitalization during the period of work of the Board of Directors.

In addition, in the case of a business trip to visit any Company's facilities, hold meetings with shareholders and investors, participate in general shareholders' meetings, as well as perform other tasks related to the functions of a member of the Board of Directors, members of the Board of Directors shall be compensated for all actual costs incurred (travel, accommodation, meals, etc.).

The total remuneration paid to members of the Board of Directors for participation in the work of the Board of Directors in 2014 amounted to 4,030 thousand Rubles. The Company has no outstanding amounts payable to any members of the Board of Directors.
Expenses of members of the Board of Directors of the Company were not compensated in the reporting year.