Sberbank - Annual Report 2010 - Remuneration

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# Remuneration of Members of the Banks Governing Bodies

The Staff and Remuneration Committee of Sberbank’s Supervisory Board is authorised to establish the principles and criteria for determining the remuneration of the members of the Supervisory Board, Chairman of the Management Board and Chief Executive Officer, as well as members of Sberbank’s Management Board. The decision to pay remuneration to the members of the Supervisory Board is made at the annual General Shareholders’ Meeting.

## Management Board’s remuneration

The Board members’ salaries and bonuses are paid in accordance with the contracts signed with the Chairman and Chief Executive Officer of the Bank and each Board member. The Bank does not pay any commission, nor use any stock options for the remuneration of the Board members.

In 2010, no stock options, interest-free or preferential loans were issued to the Bank’s employees, nor were any other indirect incentive schemes offered (such as insurance or credit-deposit programmes).

To control expenses with respect to Board members’ remuneration, the following limits were set by the Bank’s Supervisory Board:

- Limits on regular salary.
- Limits on the bonus paid during the year subject to Sberbank’s net profit, performance results and KPIs of a given Board member.
- Limits on the annual bonus paid as a percentage of the Bank’s net profit.

These limits are stipulated in each Board member’s respective employment contract.

Information on the value of payments to Management Board members is published on the Bank’s website as part of the issuer’s quarterly reports.

Payments made to Management Board members for 2010, excluding payments for time on business trips, amounted to RUB 985m. The growth versus 2009 is attributable to an increase in the Bank’s net profit to RUB 174.0bn — more than eight times as compared to last year’s net profit of RUB 21.7bn.

## Remuneration of the members of both the Supervisory Board and the Statutory audit commission

Taking into account the decision of the annual General Shareholders’ Meeting, which was held on 4 June 2010 and which approved Sberbank’s annual report for 2009, the following remuneration was paid in 2010 according to current Russian legislation:

- Remuneration of the Supervisory Board’s members for acting as members of this board: RUB 24m.
- Remuneration of the Statutory audit commission’s members for fulfilling their obligations in overseeing the Bank’s financial and business activities: RUB 1.5m.

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