Guoguang Electric Power Co., Ltd. System for the Assessment of Remuneration for Directors and Senior Management
Chapter 1 General Principles
Article 1 To ensure that the company's directors and senior management perform their duties in accordance with the law, establish a scientific and effective incentive and restraint mechanism, improve the company's remuneration and assessment management system, further clarify the remuneration and assessment matters for directors and senior management, and promote the healthy, sustainable, and stable development of the company, the company's board of directors hereby formulates this system.
Article 2 The scope of application of this system: (1) Personnel serving as directors of the company; (2) Senior management personnel of the company, including the president, vice presidents, secretary of the board, and financial director, etc.
Article 3 Principles for the remuneration and performance assessment of the company's directors and senior management: (1) The principle of open, fair, and transparent remuneration standards; (2) The principle of matching remuneration with annual performance assessment; (3) The principle of combining remuneration with the company's actual operating conditions; (4) The principle of combining remuneration with rights, responsibilities, and benefits; (5) The principle of balancing incentives and restraints.
Article 4 The relevant remuneration assessment bodies of the company may adjust the remuneration of directors and senior management according to the following circumstances, with the basis for adjustment including: (1) Remuneration levels in the same industry; (2) Remuneration levels in the region; (3) Inflation levels; (4) The company's actual operating conditions; (5) Adjustment of the company's development strategy and organizational structure, and changes in positions and responsibilities.