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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of November 30, 2020 No. 153

About approval of the Regulations on policy of remuneration in bank

(as amended of the Resolution of Board of the National Bank of Ukraine of 15.12.2021 No. 141)

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", article 7 of the Law of Ukraine "About banks and banking activity", to Articles 33, 52 Laws of Ukraine "About joint-stock companies", for the purpose of establishment of requirements to provisions and reports on remuneration of members of the supervisory board and the Board of the National Bank of Ukraine bank board decide:

1. Approve Regulations on policy of remuneration in bank which are applied.

2. To impose control over the implementation of this resolution on the First Deputy Chairman of the National Bank of Ukraine Ekaterina Rozhkova.

3. The resolution becomes effective from the date of, its official publication following behind day.

Chairman

K. Shevchenko

Approved by the Resolution of Board of the National Bank of Ukraine on November 30, 2020 No. 153

Regulations on policy of remuneration in bank

I. General provisions

1. This Provision is developed according to the Laws of Ukraine "About the National Bank of Ukraine", "About banks and banking activity", "About joint-stock companies", "About modification of some legal acts of Ukraine concerning enhancement of questions of the organization of corporate management in banks and other questions of functioning of bank system" and establishes requirements to remuneration policy, and also requirements to provisions and reports on remuneration of members of the supervisory board (further - council) and bank boards (further - board), the division manager of internal audit, main risk - the manager, the chief komplayens-manager, the head of separate division on prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction if the head/manager is not board member, other persons, which professional activity has considerable influence on profile of risk of bank.

2. In this Provision terms are used in such value:

1) remuneration - material payment in cash and/or suppression of non-cash stimulation of the member of council or board (further - governing body), the man of weight for accomplishment of the job responsibilities assigned to he (she) which includes all fixed and/or variable components of remuneration provided by conditions of the governing body concluded between such member, the man of weight, such man of weight and bank of the agreement (contract)/decision of general meeting of participants (shareholders) of bank (further - general meeting) / the supreme body of national bank (for members of council) or the decision of council/board (board members, men of weight);

2) payments for dismissal - the compensation payments connected with early agreement cancelation (contract) with the member of governing body, the man of weight at the initiative of bank and possible restrictions of his (her) activities after the termination of his (her) powers [if such payments are provided in the agreement (contract)];

3) the supreme body of national bank - the body which exercises control of corporate laws of the state in national bank performs functions of the supreme body of management of national bank and within which competence decision making about establishment of amount of remuneration of members of the supervisory board of national bank, introduction of compensation and incentive payments is;

3-1) man of weight - the division manager of internal audit, the chief risk manager, the chief komplayens-manager, the head of separate division on prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction if the head/manager is not board member, other person whose professional activity exerts considerable impact on profile of risk of bank (except the member of governing body, the man of weight);

4) variable remuneration - constituting remunerations of the member of governing body which is not the fixed remuneration according to this Provision;

5) committee on remuneration - committee of council on questions of determination of remuneration to officials of bank or committee on questions of appointments and remunerations to officials of bank, or committee on questions of remunerations;

5-1) person whose professional activity exerts considerable impact on profile of risk of bank, - person who is determined based on high-quality and quantitative criteria according to policy of remuneration of bank;

5-2) divisions of control - division on risk management, division of control of observance of regulations (komplayens) and division of internal audit;

5-3) policies of remuneration - system of general approaches, the principles and methods of forming of management decisions in the sphere of compensation (remuneration) of members of governing bodies and men of weight;

6) the program of stimulation - material payment in cash and/or action of non-cash stimulation of the member of governing body, the man of weight based on in advance certain criteria which is one of components of remuneration and can include benefits package or privileges in cash/non-cash form (provision of housing or compensation of costs for housing, compensation for expenses on insurance, pension assignments, providing with the official car or compensation for expenses on use of the car in the office purposes, provision of goods and/or services free of charge or on preferential price);

7) system of remuneration - set of actions of material stimulation and non-material encouragement of members of council and board, the men of weight aimed at providing effective corporate management, risk management, accounting of strategic objectives of bank and assistance to respect for corporate values;

8) system of non-cash stimulation - set of actions of bank for provision to members of governing body, men of weight in non-cash form of the fixed and/or variable remuneration for professional services;

9) the fixed remuneration - constituting remunerations of the member of governing body, the man of weight, which at the same time:

has in advance determined size in accordance with the terms of the civil or employment contract (contract) signed between bank and the member of governing body, the man of weight or the staff list of bank;

corresponds to the level of working experience, the place of the member of governing body, the man of weight in organizational structure of bank and to the level of his (her) responsibility;

does not depend on results of activities of bank;

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