Zhejiang Jinggong Integrated Technology Co., Ltd.
Management System for Directors' and Senior Management's Remuneration
(Revised Draft)
Chapter 1 General Provisions
Article 1 To further improve the remuneration management of directors and senior management of Zhejiang Jinggong Integrated Technology Co., Ltd. (hereinafter referred to as the Company), establish a scientific and effective incentive and restraint mechanism, effectively mobilize the enthusiasm and creativity of directors and senior management, and ensure the realization of the Company's development strategy goals. In accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Corporate Governance Guidelines for Listed Companies," and the "Articles of Association of Zhejiang Jinggong Integrated Technology Co., Ltd." (hereinafter referred to as the "Articles of Association"), and in combination with the Company's actual situation, this system is hereby formulated.
Article 2 This system applies to directors and senior management as stipulated in the "Articles of Association."
Article 3 The remuneration management of the Company's directors and senior management shall follow the following principles: (1) Principle of Fairness: Reflecting the principle that income levels are consistent with the Company's scale and performance, while also considering industry and market remuneration levels. (2) Principle of Distribution According to Work and Combination of Responsibility, Rights, and Benefits: Reflecting that remuneration is commensurate with the value of the position and the extent of responsibilities and obligations undertaken. (3) Principle of Balancing Incentives and Restraints: Reflecting that remuneration is linked to performance appraisal, rewards and punishments, and the Company's incentive mechanisms. (4) Principle of Long-Term Development: Reflecting that remuneration is consistent with the Company's sustainable development goals.
Chapter 2 Remuneration Management Organization
Article 4 The Company's shareholders' meeting is responsible for reviewing and approving the remuneration plan for directors, and the Company's board of directors is responsible for reviewing and approving the remuneration plan for senior management. When the board of directors or the remuneration and appraisal committee evaluates or discusses the remuneration of a director, that director shall recuse himself.
Article 5 The Remuneration and Appraisal Committee of the Company's Board of Directors is responsible for formulating the remuneration standards and plans for directors and senior management; reviewing the performance of directors and senior management and conducting annual appraisals; and supervising the implementation of the Company's remuneration management system.