Remuneration of members of the governing bodies

The members of the Company’s Board of Directors are remunerated and paid compensation as prescribed by the Regulations on Remuneration and Compensation for Members of FESCO's Board of DirectorsApproved by resolution of the Extraordinary General Shareholders Meeting held on 25 December 2017, Minutes No. 48 dated 26 December 2017..

Members of the Company's Board of Directors are paid fixed base and additional remuneration.

The remuneration directly depends on the time spent and the member's involvement in the work of the Board of Directors. Any member of the Company's Board of Directors is remunerated if during the reporting period they attended 75% or more of the meetings of the Board of Directors and/or the committee they serve on.

Base remuneration of RUB 4.5 million is paid to each member of the Board of Directors for the corporate year. Additional payments are provided for serving as the Chairman of the Board of Directors, Chairman of the Committee and a member of the Committee.

Directors are also reimbursed for expenses incurred in the exercise of their duties.

The total remuneration paid to members of the Board of Directors for their work in 2020 was RUB 52.53 million, including RUB 220,800 of compensation for expenses related to the exercise of their duties.

The Company’s sole executive bodies and the Executive Board members are remunerated in the amount, in the manner and within the time specified in their employment contracts, Company by-laws and resolutions adopted by the Board of Directors. The remuneration payable to such persons depends on the Company's performance, achievement of goals and implementation of important projects and is based on individual performance indicators.

Remuneration of the governing bodies, RUB mln

The remuneration paid to the members of the Executive Board in 2020 was RUB 295.05 million. No compensations were paid in the reporting period.