Economy 2024-04-15T06:32:48+03:00
Ukrainian news
Bonuses in advance: supervisory board of Naftogaz Ukraine has already decided to pay bonuses for 2021 to four

Bonuses in advance: supervisory board of Naftogaz Ukraine has already decided to pay bonuses for 2021 to four members of the supervisory board

Naftogaz of Ukraine, bonuses, Sergiy Pereloma, Otto Waterlander, Yaroslav Teklyuk
National joint-stock company Naftogaz. Photo by delo.
National joint-stock company Naftogaz. Photo by delo.

The supervisory board of the National joint-stock company Naftogaz during the meeting on June 25, gave a positive rating to the work results of four board members in the first half of 2021 and determined the bonuses for them.

Naftogaz’s Integrated Communications Department released this in response to UNIAN’s request

The bonuses have been agreed for Otto Waterlander, Petrus Stephanus van Driel, Sergiy Pereloma, and Yaroslav Teklyuk. 

“In addition, the supervisory board decided that company has to approve general conditions of bank guarantee as a mechanism to ensure the fulfillment of payment obligations for the results of the year, bonuses for the the medium-term goals completion, size of severance payment in accordance to the conditions of the employment contract of mentioned board members”, – said in Departments response.

It’s clarified by the company that the total amount is around 126 billion hryvnias (the size of 17 monthly salaries of board members who work in Group Naftogaz).  

"Naftogaz has to reserve around 215 billion hryvnias (before tax, 173 billion hryvnias after tax) as an irrevocable bank guarantee to cover these payments. Together with potential severance pay of 12 monthly salaries, this amounted to 29 monthly salaries of each mentioned board member. 

The bank guarantee must be provided on December 15, 2021, or during 2021 if the employee’s contract is terminated. 

It’s separately noted in the decisions that the result of the second half of 2021 is not taken into account and still has to be estimated by the supervisory board.  

“So, it does make sense to assume that the supervisory board may determine the bonuses for mentioned board members for their work in the second half of 2021 or the results of 2021, overall. It’s also noted that the bonuses for implementing the medium-term goals don’t include the results of work during the rest of 2021 and in 2022. Therefore, the supervisory board may make a decision about such bonuses too”, – said in response to the request. 

The documents say that implementation of supervisory board’s decision may be considered with taking into account a couple of factors: provision on the remuneration of members of the executive body of the company is not approved yet; the bonuses were determined for the results of 2021, which hasn’t finished yet; the financial report for the first half of 2021 is not completed yet; other employees of NAK don’t have the similar remuneration; such bank guarantee is not budgeted in the financial plan of Naftogaz.