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Management Board Fee

On the basis of decision adopted by “IDGC of the South” JSC Board of Directors (minutes dd 22.05.2008 No.13/2008, minutes dd 01.12.2008 No.20/2008, minutes dd 11.02.2009 No.22/2009, minutes dd 25.12.2009 No.38/2009, minutes dd 05.02.2010 No. 39/2010, minutes dd 28.04.2010 No. 44/2010, minutes dd 28.06.2010 No. 49/2010, minutes dd 08.07.2010 No. 50/2010, minutes dd 01.09.2010 No.53/2010, minutes dd 29.10.2010 No. 55/2010, minutes dd 24.12.2010 No. 57/2010, minutes dd 01.06.2011 No.65/2011, minutes dd 30.08.2011 No. 71/2011 и minutes dd 19.09.2011 No. 72/2011) on determining the amount of members of Management Board and on electing members to the Board, as well as in accordance with article 21 of the Company Charter and articles 15 and 57 of RF Labour Code additional agreements to the labour contracts are concluded with members of the Management Board of the Company on exercising powers of members of the Collegiate Executive Body of the Company - Management Board.

Members of the Management Board belong to the category of top managers of the Company.

In conformance with labour contracts concluded between the Company and members of the Management Board, remuneration to the member of the Management Board is paid in amount and in order specified by Regulations "On Material Motivation of Top Managers of JSC “IDGC of the South" (new revision) approved by the decision of the Board of Directors on 14.06.2011 (Minutes No.67/2011 dd 16.06.2011).

Members of the Management Board are motivated by: 

  • by making, in accordance with order of Company Director general, bonus payments in amount up to 15% from the fixed salary of top manager;;

  • paying quarterly and annual remuneration to members of the Management Board as top managers for achieving target values of key performance indicators

Starting from 01.09.2011 members of Management Board receive monthly payments in amount of 11% from fixed top manager's salary for exercising their authorities.

The remunerations paid to members of the Management Board was 7 781 787 rubles in the 3rd quarter of 2013.