Chapter One General Principles
Article 1
To standardize the remuneration management of directors and senior management at Hebei Steel Group Co., Ltd. (hereinafter referred to as the Company), establish a sound market-oriented incentive and constraint mechanism, further enhance the enthusiasm and creativity of directors and senior management, and promote the high-quality development of the Company, these measures are formulated in accordance with the Company Law of the People's Republic of China, the Code of Corporate Governance for Listed Companies, and other relevant laws and regulations, as well as the provisions of the Articles of Association of Hebei Steel Group Co., Ltd. (hereinafter referred to as the Articles of Association), combined with the actual situation of the Company.
Article 2
These measures apply to the directors and senior management of the Company as stipulated in the Articles of Association, excluding independent directors who do not receive remuneration from the Company in accordance with relevant national laws and regulations.
Article 3
Remuneration management shall adhere to the following principles:
- Adhere to the principles of market-oriented and differentiated distribution, determining remuneration based on job value and performance contribution, and reasonably widening the distribution gap.
- Adhere to the principle of unifying incentives and constraints, with remuneration corresponding to responsibilities and risks undertaken.
- Adhere to the principle of equal emphasis on operational performance assessment and comprehensive assessment, providing appropriate rewards for outstanding performance.
Chapter Two Remuneration Management Organization
Article 4
The Company's Board of Directors' Remuneration and Assessment Committee is responsible for formulating the remuneration assessment standards for directors and senior management, conducting assessments, and developing and reviewing the remuneration decision-making mechanism, decision-making process, payment and recovery arrangements, and other remuneration policies and plans, and making recommendations to the Board of Directors regarding remuneration matters.