AKCINĖS BENDROVĖS „PIENO ŽVAIGŽDĖS“ REMUNERATION POLICY OF EXECUTIVES VADOVŲ ATLYGIO POLITIKA OF AKCINĖ BENDROVĖ “PIENO
AKCINĖS BENDROVĖS „PIENO ŽVAIGŽDĖS“ REMUNERATION POLICY OF EXECUTIVES VADOVŲ ATLYGIO POLITIKA OF XXXXXX XXXXXXXX “PIENO
ŽVAIGŽDĖS”
I. Bendrosios nuostatos I. General Provisions
1. Akcinės bendrovės „P
–Xxxxxxxx) vadovų atlyg–i Atlygio politika) nustato atlygio nustatymo principus, struktūr papildomų naudų skyr mokėjimo, peržiūrėji reikalavimus, kurių nustatydama ir išmok
1.1. Xxxxxxxxx general (toliau –Generalinis direktorius);
1. The Remuneration Policy of Executives (the Remuneration Policy) of Akcin “Pieno žvaigždCėomsp”any) establishes the principles of determining remuneration, remuneration structure, forms of remuneration, grounds for allocating additional benefits and the procedure of payment and review of remuneration as well as other requirements followed by the Company in setting and paying remuneration to:
1.1. the General Manager (CEO) of the Company (the General Manager);
1.2. Bendrovės val–Vdayldybbaa)i; 1.2. the Management Board of the Company
(the Board);
1.3. Bendrovės stebėto–j
Stebėtojų taryba).
1.3. The Supervisory Board of the Company (the Supervisory Board).
Bendrovės Genera, lVialdnybiasir StebėtojųtoliautakarrtuyAbtlayg,io politikoje
The Company’s Gene, threaBolard Manad the Supervisory Board are hereinafter collectively
kartu vadinami Vadovais arba kiekv referred to as the Executives or each of them
atskirai –Vadovu.
2. Atlygio politika yra prisidedama prie Bendrovės veiklos st ir Bendrovės interes
2.1. įgyvendinant efek organizacijos misi Bendrovevrtėybses – profesio bendradarbiavimą, iniciatyvumą, ska verslo kūrimą ir vy
2.2. skatinant ilgalaik vertės kūrimą;
2.3. teisingai Vadovų a priimamų sprendim Bendrovės valdyme;
2.4. vengiant interesų Vadovams atlygį;
2.5. skatinant aukšto profesionalų prit valdymui.
individually as the Executive.
2. The Remuneration Policy contributes to the Company’s busines-sterm objectives and the C
2.1. implementing the mission and vision of an effectively managed Company: professionalism, cooperation, responsibility, initiative, transparency, fair business creation and development;
2.2. promoting the creation of the long-term and sustainable value of the Company;
2.3. correctly reflecti remuneration the significance of the decisions they make in management of the Company;
2.4. avoiding conflicts of interest in establishing remuneration for the Executives;
2.5. promoting attracting of high-level professionals in their field for management of the Company.
3. Atlygio politika ori 3. The Remuneration Policy is aimed at
tinkamai skatinami B asmeninė veikla daro verslui, organizacij visoje Bendrovės vei
providing adequate incentives to the Company’s Executives activities have a significant impact on the Company’s business,
the values of the organization throughout the Company’s activities
4. Ši Atlygio politika 4. This Remuneration Policy applies only to the
Executives.
5. Tuo atveju, kai t: as
i) Generalinio direktoriaus ir Valdybos nario pareigas, arba
ii) Valdybos nario ar Stebėtojų pareigas ir kitas darbo pareigas Xxxxxx,
tai tokiam Vadovui mokami abu atlygiai, t.y. visas numatytas Vaaldtyblojye ar Stebėtojirųvisats anurmyatbytaos atlygis už vykdomas ar kitas darbo pareigas.
6. Atlygio politika pri būtų išvengta bet ko ir kitais pagrindais tokį patį ar lygiave vienodas atlygis. Į
5. In cases where the same person holds:
i) the position of the General Manager and that of a member of the Board or
ii) the position of a member of the Board or that of a member of the Supervisory Board and another employment position in the Company,
both salaries are paid to such Executive, i.e. the total remuneration foreseen for the activities as a Board member or as a Supervisory Board member and the total remuneration for work in the General Manager’sor in another employment position.
6. The Remuneration Policy must be applied in such a way as to avoid any discrimination on the ground of sex and at the same time on another ground. Men and women are paid the same remuneration for the same or
lyčių lygybės
mior kitanis
equivalent work/activity. In implementing the
pagrindais principus, Xxxxxx atlygis be diskriminavimo reiš darbo/veiklos atlygį sumas skiriamas paga
7. Nustatant Atlygio po Xxxxxxxxx darbuotojų sąlygas, siekiant i nediskriminavimo, vi darbą principus.
principles of equality between employees and non-discrimination on other grounds, the remuneration of the Executive without discrimination means non-discriminatory remuneration for work/activity and any additional amounts allocated in accordance with this Remuneration Policy.
7. In establishing the Remuneration Policy, the remuneration and employment conditions of the Company’s employees have been considered in order to maintain the principles of proportionality, non-discrimination and equal remuneration for equal work.
II. Atlygio struktūra II. Remuneration structure
8. Vadovų atlygio sude sudaryti:
8.1. pastovioji atlygio dalis (toliau –PAD) – mėnesinis atlygis;
8.2. kintamoji atlygio dalis (toliau –KAD) – ketvirtinis atlygis;
8.3. papildomas skatinimas – vienka premijos, o taip pat kitos atlygio dalys, priemokos ir naud taikomos Bendrovė pagal Bendrovėje p
8. The following may constitute the components of the Executive remuneration:
8.1. the fixed part of the remuneration (the
FPR) –a monthly salary;
8.2. the variable part of the remuneration (the
VPR) –a quarterly salary;
8.3. an additional incentive – lump-sum premiums, as well as other parts of the remuneration, bonuses and benefits, valid and applicable to the C employees in accordance with local
norminius .teisės ak
9. Generalinio digraliesukdatryoti:r
9.1. PAD. Generaliniam PAD nustato Valdyba savo sprendimu, neviršydama šioje nurodytos Generalinio direktoriaus PAD viršutinės ribos;
9.2. ketvirtinė KAD. Ne nuo Valdybos Generaliniam direktoriui nustatyto paskutin atitinkamo ketvi kalendorinę dieną, padauginus iš koef KAD apskaičiavimo mokėojimkriterijus, Valdyba, atsižvelg politikoje nustatyt
regulatory acts approved by the Company.
9. The General Xxxxxxxxxx’ be composed of:
9.1. the FPR. The FPR payable to the General Manager is set by the Board by its own decision, within the limit of a ceiling of the FPR for the General Manager provided for in this Remuneration Policy;
9.2. a quarterly VPR. No more than 50% of the last FPR set for the General Manager by the Board, in force on the last calendar day of the respective quarter, multiplied by the coefficient 3. The Board establishes the criteria for calculation, assessment, and payment of a quarterly VPR and its rates taking into account the conditions laid down in this Remuneration Policy.
10. Valdybos nario atlyg 10. The remuneration of a Board member is
composed of:
10.1.PAD, kuris yra 7.000 (septini tūksta eurų, į šią sumą į kokius taikytinus nariui mokamas PAD yra fiksuotas mėnesini; s atlygis
10.2.ketvirtinė KAD Val mokama.
10.1.the FPR, which is EUR 7,000 (seven thousand euros); this amount includes all and any applicable taxes. The FPR paid to a Board member is fixed monthly remuneration;
00.0.xx quarterly VPR is paid to the Board members.
11. Stebėtojų tarybos na 11. The remuneration of a Supervisory Board
member is composed of:
11.1.PAD, kuris yra 5.000 (pe eurų, į šią suvismusąir bįet kokius taikytiSntuesbė tarybos nariui mokamas PAD yra fiksuotas mė;nesinis
11.2.ketvirtinSėtebKėAtDojų nariams nėra mokam
12. Atlygis nustatomas, mokamas vadovaujantis Atlygio politika ir (jei taikoma) Bendrovės v nustatytomis sąTluyo agtvoejum, jei Valdybos narys arba Ste narys yra aitššauužkimaamma arba į jpaasksiriamas vėliaVualdynboes arba Stebėtkoajdųentcairjyobirs tokios pareigos eina mėne, stoįkiam Valdybos ar tarybos nariui atlygis už ati kalendorinmįokammasėpnroeposrcįingai tokių paretiągųkaėljeinmdoo dienų skaičiui.
11.1.the FPR, which is EUR 5,000 (five thousand euros); this amount includes all and any applicable taxes. The FPR paid to a Supervisory Board member is fixed monthly remuneration;
00.0.xx quarterly VPR is paid to the Supervisory Board members.
12. The remuneration is set, calculated and paid in accordance with the Remuneration Policy and (if applicable) the conditions and procedures laid dow internal documents. In the case when a member of the Board or of the Supervisory Board is revoked from their duties or appointed to such duties later than the beginning of the ongociunrergntterm Company'sor thBe oSuaperrvdisory Board, and the execution of such duties lasts for less than a full calendar month, such member of the Board or of the Supervisory Board is remunerated for that calendar month
proportionally to the number of days during which their duties were actually executed.
III. Pastoviosios atlygio dalies
nustatymas
13. Vadovams PAD mokamas nepriklausomai nuo Vadovopialmižeitayubsė,s, diskriminacinių pagr
III. Setting the fixed part of the
remuneration
13. The Executives are paid the FPR regardless of the age, nationality, sex of the Executive or other discriminatory grounds.
14. PAD Vadovams nustato 14. The FPR for the Executives is set taking into
account:
14.1.Vadovo kompetencij 14.1.the Executive’s
experience;
14.2.Vadovo specialiąsi 14.2.the Executive’s spe 14.3.atsakomybes: 14.3.responsibilities:
14.3.1. už darbo proce valdymo apimtis;
14.3.2. už atliekamų u Bendrovės rezult
14.3.3. už priimamus sprendimus Bendrovei;
14.3.1. for the volume of management of work processes and resources;
14.3.2. for the impact of performed tasks on the results of the Company;
14.3.3. for taken decisions which are essential for the Company;
14.4.Bendrovės finansini 14.4.for the financial r
activities.
15. Visuotinio akcininkų 15. The ceiling for the FPR payable to the
Generalinio direktor– iki 25.000 (dvidepšenikimttūksati)aneč į šią sumą įskaičiuo taikytinus mokesčius
General Manager as set by the general meeting of shareholders is up to EUR 25,000 (twenty-five thousand euros); this amount includes all and any applicable taxes.
IV. Kintamosios atlygio dalies
nustatymas
16. KAD turi būti nusta Bendrovės versloverstytbers, ilgalaikius tęstinės skatintų patikimą i valdymą, padėtų išve
17. KAD mokamas, siekiant susieti Generalinio direktoriaus individualius veiklos tikslus su Bendrovės interesai nepertraukiamą ir e veiklą, skatintų Gen skaidriai ir profesionaliai.
18. Mokėtinas KAD dydi Generalinio direktor 2–3 Generalinio direk siektinų tikslų, ji
IV. Setting the variable part of the
remuneration
16. The VPR must be set t business strategy, objectives, values, long- term interests of continuing operations and to promote sound and effective risk management, as well as to avoid conflicts of interest.
17. The VPR is paid in order to link the General Manager’s individual the Company’s intere continuous and efficient operation of the Company, encouraging the General Manager to act in a transparent and professional manner.
18. The payable amount of the VPR depends on 2 to 3 objectives to be attained by the General Manager in his activities, as agreed between the General Manager and the Board,
kriteri–jKųPI)(tiorlijaųu
„sv
assessment criteria assigned to them (the
procentine verte), b rezultato. Siektini
KPIs) and their weights (expressed as percentage), and the actual result of the
Generaliniam direktoriui Valdybos nustatomi metams arba ketvirči rezultatai Valdybos vertinami atitinkamai kas ketvirtį. Valdyba ki nustato KPI bei jam
„svorį“ (procoenvtiisnųe n KPI „svorių“ suma tu Pasibaigus ketvirčiu įvykdymo vertinimą atsižvelgdama į fakt priskirtus „svorius“ nustatytomis KAD dydžio aps taikomomis sąlygomis
19. KPI pavydžiai, kurie būti pildomi, keičia
19.1.Bendrovės finansin ketvirčio ir/ar met
19.2.ekonominių, bgiamuydbožs prognozių pasiekima
19.3.pardavimų plėtra regionuose;
achievement of the results. The objectives to be achieved, the KPIs and their weights in regard to the General Manager are set by the Board for a year or quarter, and the results of their actual performance are assessed by the Board on a quarterly basis respectively. For each target to be achieved the Board sets a KPI and assigns a corresponding weight (percentage) to it, and the sum of all weights of set KPIs must be equal to 100 percent. Once a quarter has passed, the Board carries out the assessment of the achievement of the objectives, taking into account the actual values of the KPIs and their assigned weights, pursuant to the conditions set by the Board and applicable to the calculation of the VPR rate.
19. Examples of KPIs which may be amended, changed by a decision of the Board:
19.1.the Company’s fina on quarterly and/or annual results;
19.2.achievement of economic, budget and production forecasts;
19.3.development of sales in certain regions;
19.4.rinkodaros rezultat 19.4.indicators of marketing results;
19.5.sudaryti komerciniai sandoriai ir pasirašytos suta atsiskaitymai su ki ir kt.;
19.6.Bendrovės tikslų ir atsižvelgiant į Be akcininkų priimtus
19.5.commercial transactions executed and contracts signed, financial settlements with other parties, supply, etc.;
19.6.implementation of objectives and mission in the light of the Company’s tasks th the shareholders;
19.7.pardavimai Lietuvoje; 19.7.sales in Lithuania; 19.8.pardavimai užsieni 19.8.sales in foreign markets; 19.9.EBITDA; 19.9.EBITDA;
19.10. grynasis pelnas; 19.10. net profit;
19.11. pajamos; 19.11. revenues;
19.12. bendrasis pelnas (nuostolis); 19.12. gross profit (loss);
19.13. produktų kokybė; 19.13. product quality;
19.14. atlyginimų ko rodiklis;
19.15. energijos suvartojimo sumažinimas;
19.14. salary competitiveness ratio;
19.15. reduction of energy consumption;
19.16. atliekų sumažini | 19.16. | waste reduction; |
19.17. „anglies pėdsako | 19.17. | reduction of carbon print; |
19.18. kiti KPI. | 19.18. | other KPIs. |
20. KAD apskaičiuojama 20. The VPR is calculated for the elapsed quarter
kalendoriniam ketvir direktorius turėjo p per kitų dviejų mėn mokama už praėjusį k
21. Išmokėtas KAD yra įs direktoriaus vidutin
in which the General Manager had to achieve the KPIs and is paid within a period of the next two months. The VPR is paid for the preceding calendar quarter.
21. The paid VPR is included in the average salary of the General Manager.
V. Atlygio mokėjimo atidėjimas, KAD
susigrąžinimas
V. Deferring remuneration payments, recovering the variable part of the
remuneration
22. ĮpranseitPaADi, nei KAD mokėjinmėar 22. Normally, neither the FPR nor the VPR
atidedamas. Bendrovė Vald Generaliniam direkto mokėjimą dėl Bendrov padėties ar kitų sva daugiau kaip 50% v Maksimalus atidėjimo metai.
23. Generaliniam direkto sudėtinė KAD dalis g per 12 mėnesių nuo išmo kad ji buvo apska duomenimis, kurie p neteisingi dėl Gener pateiktos klaidinan informacijos. KAD s
payment is deferred. The Company by a decision of the Board may defer the payment of the VPR to the General Manager due to the Company’s diffic for other relevant circumstances, but no more than 50% of the total VPR amount. The maximum deferral period is one year.
23. The VPR or a component of the VPR paid to the General Manager may be recovered if, within 12 months after the payment, it has become apparent that it was calculated on the basis of data which has proved to be manifestly incorrect as a result of misleading or false information deliberately provided by the General Manager. The Board decides the
sprendžia
uis prriimsa Vparldyebna. di
issues of and takes decisions on the recovery of the VPR.
VI. Skatinamosios premijos VI. Incentive premiums
24. Xxxxxxxx iniciatyva Generaliniam direktoriui gali, tačiau nepri skatinamoji premija, siekiant paskatinti Generalinį direktori darbą, už Xxxxxxxxx ir vystymo strategi reikšmingų darbų ar įgyvendinimą.
25. Skatinamosios premij finansinius metus ne 50% Generalinio direktoriaus PAD, galiojančio skatinam dieną, padauginus Skatinamoji premija metuose ar kitokiu d Valdyba, tačiau pr finansinius metus ne skatinamosios premijos maksimalios sumos.
24. On the initiative of the Board, the General Manager may, but need not, be awarded an incentive premium in order to encourage the General Manager for the very good work he has done, for the initiation and implementation of particularly significant work or projects ensuring the sustainability of business, expansion and development strategy of the Company.
25. The amount of the incentive premium per financial year of the Company may not exceed 50% of the Ge in force on the date of allocation of the incentive premium multiplied by the coefficient 12. The incentive premium may be allocated once a year or at another frequency, where the Board establishes so, however, the amount of the premium during a financial year may not exceed the maximum amount of the established incentive premium.
26. Skatinamosios premij Generalinio direkto užmokestį.
27. VI skyriuje nustatytos skatinamosios premijos nėra garant ir (ar) privalomos Bendrovei. Generalinis direktorius neturi t būtų paskirtos ar iš išimtinai Valdybos d
26. No incentive premiums are included in the average salary of the General Manager.
27. Incentive premiums referred to in Section VI are not a guaranteed part of the remuneration package and/or not binding on the Company. The General Manager has no right to require allocation or payment of incentive premiums; the allocation thereof is the exclusive discretion of the Board.
VII. Papildomos naudos ir kitos
nuostatos
VII. Additional benefits and other
provisions
28. Įspėjimo terminai Va 28. Notice periods are applied to the Executives
galiojančius teisės
29. Generaliniam direktoriui, jei su juo sudarytoje darbo sutartyje ar papildomame susitarime nustatyta, gali būti dydžio išeitinė išm darbo sutartis su Ben
according to effective legal acts.
29. The General Manager, if provided for by his employment contract or additional agreement, may be paid a severance grant provided for therein in case of termination of the employment contract with the Company.
dydis negali
Genverialirnišo
The amount of the severance grant may not
direktoriaus vidutin (išeitinė išmoka a galiojančius teisės KAD). Jei su darbu Valdybos nario ar Stebėtojų pareigas, sudarytuos darbo pareigų atlikimo išeitinių išmokų mo tuose susitarimuose
ir tvarka.
30. Papildomos naudos g siekiant skatinti Vad formuoti Bendrovės i patrauklumą, bei su bendrą atlygio paket efektyvias motyvuoj naudas, atsižvelgian taikomas praktikas. Papildomos naudos taikomos neatsižvel individualius veiklos rezultatus.
31. Generalinis direktor xxxxxx Xxxxxxxxx įm direktoriaus III pakopos pens Metinis bendras įm direktoriaus III pakopos pens biudžetas n3e(gtrijaųl)i Gveinre direktoriaus maksima šią sumą įskaičiuoja taikytinus mokesčius Generaliniam direktoriui nustatomas Bendrovės Valdybos s
exceed 12 average salaries of the General Manager (the severance grant is calculated in accordance with applicable legal acts, taking into account the VPR paid). Where arrangements for the payment of severance grants have been made in the agreements for performance of other work duties, concluded with the employees who are Board members or Supervisory Board members, such payments are made in accordance with the conditions and procedures agreed therein.
30. Additional benefits may be allocated to promote the involvement, loyalty of the Executives, to develop the unique features of the Company, to enhance its attractiveness, and to provide a competitive overall remuneration package. The Company aims to have effective motivating additional benefits, taking into account practices applicable on the labour market. Additional benefits are applied without taking account of the individual performance results of the Executives.
31. The General Manager may be encouraged by the Company’s con General Manager to his III pillar pension fund. The total annual budget of contributions to the GeneralpillarMpaennsioang fund may not exceed the amount of 3 (three) maximum FPR of the General Manager; this amount includes all and any applicable taxes. The amount of contributions payable for the General Manager is determined by a decision of the Board of the Company. If the financial
finansinei padėčiai būti keičiamos arba sprendimu.
situation of the Company changes, the contributions may be changed or suspended by a decision of the Board.
32. Bendrovė Lietuvos R 32. The Company may grant loans to the
bendrovių įstatymo sąlygomis Vadovams g
Executives in accordance with the procedure and conditions provided for in the Law of the Republic of Lithuania on Companies.
33. Xxxxxxxx xxxx xxxx 00. Prior arrangements on the conditions for
susitarimai dėl išan sąlygų.
early retirement are not applied to the Executives.
VIII. Baigiamosios nuostatos VIII. Final provisions
34. Siekiant išvengti konkrečiam Vadovui n vertinant Generalinio direktoriaus KPI įvykdymą, atitiirnjko aarmtimai giminatiučriainusišalint įvykdymo svarstymo. kokių interesų konfl Atlygio politikos nuostatas.
34. In order to avoid any conflict of interest, in setting the remuneration for a specific Executive, its amount, in assessing the KPI performance by the General Manager, the relevant Executive and his close relatives must disqualify themselves from the discussion of his remuneration, KPI performance. In order to avoid any conflict of interest, the remuneration must be consistent with the provisions of the Remuneration Policy.
35. Atlygio politika B 35. The Company’s Boar
peržiūrima kas dvej tvirtinti visuotinia Atlygio politika gal
35.1.šalies bendrą ek situaciją rinkoje;
Remuneration Policy every two years and submits it for approval to the general meeting of shareholders. The Remuneration Policy may be amended having assessed:
35.1.the overall economic situation in the country, the situation on the market;
35.2.Bendrofinvanėsinsius veiklos rezultatus; 35.2.the financial resu
activities;
35.3.pasikeitusius tei reglamentuoja atlyg
35.3.changes in the legislation governing the remuneration payment procedure.
36. Atlygio politika įs 36. The Remuneration Policy enters into force
visuotiniam akcinink visuotinio akcininkų būtų nurodyta kita įsigaliojimo data.
after its approval by the general meeting of shareholders, unless the general meeting of shareholders indicates another effective date of the Remuneration Policy in its decision.
37. Atlygio politika skelbi 37. The Remuneration Policy is published on the
interneto tinklalapyje lietuviųų
Company’s
inwtheebLsithiuatniean and
kalbomis. Esant neatitiki lietuvių ir anglų k tekstu, išdėst. ytu li
English languages. In case of discrepancy between the texts in Lithuanian and English, the Lithuanian text shall prevail.