Common use of REWARD Clause in Contracts

REWARD. 2.1 The audit committee members shall be entitled to a reward amounting to CZK 10,000 per month for the performance of their function; the deputy chairman of the audit committee shall be entitled to CZK 15,000 per month, and the chairman of the audit committee – to CZK 20,000 per month. 2.2 Rewards are to be paid to the audit committee members upon the expiry of a calendar month, on the date designated for payment of wages to the Company’s employees. The basis for payment of the rewards shall be a written document signed by the chairman and deputy chairman of the audit committee (in the event of absence of either of them, by another audit committee member), and by the chairman or deputy chairman of the board of directors, submitted to the relevant department of the Company. 2.3 Should the Contract for Performance of the Function of an Audit Committee Member stipulate rewards for a certain period of time (months, accounting year), and the Audit Committee Member has performed his/her function only during a part of this period, he/she shall be entitled to a proportionate part of the reward. Should his/her function be terminated by recalling during a given period of time, the body, which has recalled him/her may decide otherwise. 2.4 In the event of a temporary inability to perform the function due to illness or long-term absence, the Audit Committee Member shall be entitled to a reward for a given period of time, if he/she submits his/her written opinion on the discussed items to the chairman of the audit committee until the instant of discussion thereof, at the latest, unless the audit committee decides otherwise. In the event of a temporary inability to perform the function, the audit committee shall decide on recognition of the reward. Long-term absence means non-participation and non-submission of a written opinion during two sequential months, at the minimum.