Authorities
Executive Team has the following authority according to Corporate Bylaws:
Paragraph 18.2 of Article 18 of Bylaws: "Executive Team has authority over the following matters:
1) design of Corporation development programs and their submission to the Board of Directors;
2) preparation of report on Corporation's financial and operational performance, and a report on implementation of Annual General Meeting and Board of Directors' resolutions by Executive Team;
3) deciding on transactions with property, work and services
in amount from 1 to 10 percent of Corporation's total assets on the day when a decision regarding such a transaction is made;
4) approval of report on results of issue (additional issue) of Corporation's securities;
5) management of social benefits and protection for Corporation employees and approval of Collective agreement;
6) review of reports submitted by Vice Presidents of the Corporation and heads of divisions on results of implementation of approved plans, programs, directions; and review of reports, documents and other information on activities of Corporation and its subsidiaries and affiliates;
7) decisions for Corporation to nominate the sole executive authority or a member of other management authority or internal audit authority, or nominate an auditor for organizations in which Corporation participates;
8) defining stand of Corporation (and its representatives) on the following items on agendas of S&A Annual General Meetings and Board Meetings:50
8.1) approval of agenda for S&A Annual General Meeting (except when discussion is mandated by Paragraph 1 of Article 47 or Articles 53 and 55 of the Federal Law Concerning Joint Stock Companies);
8.2) remuneration of S&A Board of Directors and Audit Committee;
8.3) conditions of agreement with the management company (or respective manager) including remuneration of management company (or respective manager) or selecting authorized representative
of the Corporation's Board of Directors responsible for conditions of agreement with the management company (or respective manager);
8.4) approval of distribution of profits and losses achieved in a fiscal year;
8.5) recommending amount of share dividend and conditions of its payment to the Annual General Meeting;
8.6) payment (announcement) of dividend for the first quarter, six months, nine months and full fiscal year;
8.7) approval of large transactions by S&A;
8.8) participation of S&A in other organizations (entry into existing organizations or creation of new organizations) as well as acquisition, sale and putting encumbrance on shares and stakes in authorized capital
of organizations in which S&A participates, or change in ownership of authorized capital of such organizations;
8.9) on S&A transactions (including chained transactions) with property which is a part of fixed assets, intangible assets, unfinished construction projects intended for power or heat generation, transmission, scheduling
or distribution in cases (or amounts) subject to policy on interaction between the Corporation and organizations in which it participates;
8.10) changes and additions to S&A Articles of Association;
8.11) defining number of S&A Board Members, nominations to the Board and early termination of Board Member duties.
