Chapter 1 General Principles
Article 1
To further standardize the performance evaluation and compensation management of directors and senior management at Zhejiang Hengwei Battery Co., Ltd. (hereinafter referred to as "the Company"), clarify the mechanism for determining total salary, the structure of compensation for directors and senior management, performance evaluation, salary distribution, and recourse for payment cessation, and ensure the Company's stable operation, this system is formulated in accordance with the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Code of Corporate Governance for Listed Companies," and the "Articles of Association of Zhejiang Hengwei Battery Co., Ltd." (hereinafter referred to as "the Articles of Association"), along with relevant laws and regulations, and considering the actual situation of the Company.
Article 2
This system applies to:
- Directors of the Company: non-independent directors (including employee representative directors) and independent directors;
- Senior management of the Company: managers, deputy managers, financial officers, board secretaries, and other senior management as stipulated in the Articles of Association.
Article 3
The principles for the compensation and performance evaluation of the Company's directors and senior management are as follows:
- Compensation should reflect the Company's performance;
- A balance between incentives and constraints should be maintained;
- Long-term interests of the Company should be reflected, aligning with the Company's sustainable development goals;
- Compensation standards should be fair and transparent.