Remuneration of Board of Directors

The Company has a Regulation on Remuneration and Compensation paid to members of the Board of Directors of PJSC NCSP that was approved at a General Shareholder Meeting on December 25, 2017 (Minutes No. 52–OSA NCSP, dated December 28, 2017). The regulation was developed in accordance with Federal Law No. 208-FZ of December 26, 1995 on Joint-stock Companies, other regulations and PJSC NCSP’s Corporate Governance Code. No changes were made to the regulation in the reporting year. The regulation is posted
on PJSC NCSP’s website.

Main provisions of PJSC NCSP policy for remuneration and compensation of Board of Directors:

  • Remuneration for members of the Board of Directors is calculated and paid from the date the Board members are elected at the AGM to the date of the next AGM (hereinafter, “corporate year”). In the event of early dismissal and election of Board members at an EGM, the amount of remuneration is calculated proportionately for the actual period of time that these Board members served
  • The following types of remuneration are established for serving as a member of the Company’s Board of Directors:
    • Base remuneration
    • Additional remuneration
  • Base and/or additional remuneration is not paid to a member of the Board if they did not participate in the work of more than half of the meetings of the Board and/or Board committees held in the quarter following the end of which such payment is made
  • Board members have the right to receive additional remuneration, which is paid for:
    • Serving as Chairman of the Board of Directors or serving as Chairman of any one of the Board’s committees or participating in the work of two or more Board committees, in an amount equal to 50% of the base remuneration for the corporate year
    • Participating in the work of a Board committee at amount equal to 25% of the base remuneration for the corporate year prescribed in Point 3.1, Article 3 of the Regulation

Remuneration paid to members of the PJSC NCSP Board of Directors who are not government officials totaled 1.217 million RUB in 2018. Companies that are part of the NCSP Group did not provide credit (loans) to members of PJSC NCSP’s Board of Directors in the reporting year.

Board director Paid during 2018 Base remuneration Variable part, additional remuneration for work on Board committees
Sergei Andronov 224 149 75
Maxim Grishanin 224 149 75
Leyla Mammadzada 224 149 75
Alexander Tikhonov 321 235 86
Rashid Sharipov 224 149 75
Total 1,217 831 386