Compensation Management System for Directors and Senior Management
Chapter 1 General Provisions
Article 1 To further improve the incentive and restraint mechanism of Zhejiang Yongtai Technology Co., Ltd. (hereinafter referred to as the "Company"), fully mobilize the enthusiasm and creativity of directors and senior management, and ensure the Company's sustained, healthy, and stable development, this system is formulated in accordance with the "Company Law of the People's Republic of China," the "Guidelines for Corporate Governance of Listed Companies," and other relevant laws, regulations, and the "Articles of Association," combined with the Company's actual situation.
Article 2 This system applies to the following personnel: (1) Directors, including independent directors, non-independent directors (including employee representative directors); (2) Senior management personnel, including the general manager, deputy general managers, financial controller, board secretary, and other senior management personnel as stipulated in the "Articles of Association."
Article 3 The determination of compensation for directors and senior management shall follow these principles: (1) The principle of distribution according to work and matching responsibilities, rights, and benefits; (2) The principle of linking compensation to company performance and work objectives; (3) The principle of combining compensation with the Company's long-term interests, ensuring the growth of the main business, controlling short-term behavior, and promoting the Company's long-term and stable development; (4) The principle of compensation that adheres to "rewards and punishments, equal rewards and punishments, and equal emphasis on incentives and restraints."