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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of July 4, 2017 No. 668

About approval of the Procedure for determination of payment terms of services and compensation for expenses of members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

(as amended on 29-08-2018)

According to the subitem "x" of Item 5, parts two of article 14 of the Law of Ukraine "About management of objects of state-owned property" the Cabinet of Ministers of Ukraine decides 18 parts two of Article:

Approve the Procedure for determination of payment terms of services and compensation for expenses of members of the supervisory boards of the state unitary enterprises and economic societies in which authorized capital more than 50 percent of shares (shares) belong to the state which is applied.

Prime Minister of Ukraine

V. Groysman

Approved by the Resolution of the Cabinet of Ministers of Ukraine of July 4, 2017 , No. 668

Procedure for determination of payment terms of services and compensation for expenses of members of the supervisory boards of the state unitary enterprises and economic societies in whose authorized capital more than 50 percent of shares (shares) belong to the state

General questions

1. This Procedure determines payment terms of services and compensation for expenses to members of the supervisory boards of the state unitary enterprises and economic societies in which authorized capital more than 50 percent of shares (shares) belong to the state (further - members of the supervisory boards).

2. The member of the supervisory board of the state unitary enterprise (further - the company), economic society in which authorized capital more than 50 percent of shares (shares) belong to the state (further - society) has the right to payment of the services in the form of annual and additional remunerations and to compensation for expenses, connected with accomplishment of the functions by it, on the conditions determined in the civil agreement which affirm general meeting of society, subject of management of objects of state-owned property to which sphere of management the company belongs.

3. Fee and compensation for expenses to members of the supervisory boards who are nonresidents is performed taking into account requirements of the legislation regulating turnover of foreign currency in Ukraine.

4. Fee for accomplishment by members of the supervisory boards of the functions and compensation for expenses to members of the supervisory boards is performed based on the delivery-acceptance certificate of the rendered services which is signed by the member of the supervisory board and the director, societies.

5. Action of this Procedure does not extend to members of the supervisory boards who hold positions of public service, other positions of persons authorized on accomplishment of functions of the state or the local self-government determined in Item of 1 part one of article 3 of the Law of Ukraine "About prevention of corruption".

Fee of members of the supervisory boards of the company, society

6. For each calendar year in which the member of the supervisory board will perform the functions the member of the supervisory board has the right to fee in the form of annual and additional remunerations.

7. The subject of management of objects of state-owned property to which sphere of management the company belongs, general meeting of society make the decision on the amount of annual remuneration to members of the supervisory board taking into account indicators of determination of amount of remuneration of members of the supervisory boards of the company, society determined in appendix.

The subject of management of objects of state-owned property to which sphere of management the company belongs, general meeting of society annually review the amount of annual remuneration to members of the supervisory board.

The subject of management of objects of state-owned property to which sphere of management the company belongs, general meeting of society can make the decision on payment of extra fee to members of the supervisory board.

8. The amount of annual and additional remunerations to the member of the supervisory board for accomplishment of the functions by it is noted in the civil contract between the member of the supervisory board and the company, society (further - the agreement).

9. The maximum amount of the annual remuneration which is subject to payment to the member of the supervisory board cannot exceed amount of remuneration of members of the supervisory boards of the company, the society determined in appendix and depends on net annual income of the company, society from sales of products (goods, works, services) or total income of bank (for banks) according to the last annual financial reporting.

10. Such extra fee is paid to members of the supervisory board:

1) for accomplishment by the member of the supervisory board of functions of the chairman of the supervisory board of the company, society - 20 percent of the annual remuneration specified in the agreement;

2) for participation of the member of the supervisory board in work of committee of the supervisory board of the company, society - 10 percent of the annual remuneration specified in the agreement (irrespective of the number of committees).

11. Annual and additional remunerations are distributed on 12 equal parts and paid after deduction of all taxes and fees (obligatory payments) determined by the legislation, each calendar month (except for the first month of validity when the member of the supervisory board earns part of such rewards in month in proportion to period of time of its attraction to accomplishment of the functions).

Extra fee is paid to the member of the supervisory board who takes part in work of committee of the supervisory board of the company, societies, on condition of its regular participation in work of committee of the supervisory board of the company, society.

12. Annual and additional remunerations are paid in national currency of Ukraine taking into account Item provisions 3 presents of the Procedure.

13. Payment of annual and additional remunerations is performed within 10 calendar days from signature date of the relevant act on the bank account of the member of the supervisory board specified in the agreement signed with it.

14. Payment of annual and additional remunerations is performed based on the act between the member of the supervisory board and the company, society which is constituted monthly, with the subsequent written informing the subject of management of objects of state-owned property. In the act the amount of annual and additional remunerations in month is specified. The procedure and terms of signing of the act are determined in the agreement.

Compensation for expenses

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