Chapter 1 General Principles
Article 1
To further improve the remuneration management system for Qingdao Sentury Tire Co., Ltd. (hereinafter referred to as "the Company"), a scientific and effective incentive and restraint mechanism is established for directors and senior management personnel. Based on the "Company Law of the People's Republic of China" and relevant regulations, this system is formulated in conjunction with the actual situation of the Company.
Article 2
This system applies to the directors and senior management personnel specified in the "Company Charter."
Article 3
The remuneration for directors and senior management personnel shall be determined based on the Company's operational performance, personal performance, and the overall development of the Company, in line with the relevant laws and regulations.
Article 4
The remuneration system shall be consistent with the Company's business development strategy and the position of directors and senior management personnel. The remuneration of senior management personnel shall be linked to their performance evaluation, promoting the alignment of personal capabilities with the Company's operational level.
Chapter 2 Remuneration Management Structure
Article 5
The Company's board of directors and the remuneration committee are responsible for determining the core standards for the remuneration of senior management personnel. The remuneration committee shall propose the remuneration plan for senior management personnel and submit it to the board of directors for approval.