Nomination and Remuneration Committee Number of shares held in the Company and in the Group
Committee member
Workplace
Aloyzas Vitkauskas Chairman of the Committee
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Ministry of Finance of the Republic of Lithuania, Vice-Minister
Virginijus Lepeška Independent member
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UAB Organizaciju Vystymo Centras, Chairman of the Board
Tomas Garasimavičius Member
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Advisor to the Prime Minister of the Republic of Lithuania for Energy
assess the procedures of recruitment and selection of candidates to members and senior management of the Company and the Group and establishment of qualification requirements;
perform regular reviews of the structure, size, composition and activities of the management and supervisory bodies of the Company and the Group;
supervise how members of management bodies and employees of the Company and the Group are notified of the professional development possibilities and how they upgrade their skills regularly;
supervise and assess the implementation of measures ensuring the continuity of operations of the management bodies and employees of the Company and the Group;
perform other functions attributed to the competence of the Committee by decision of the Supervisory Board.
Main functions of the Committee:
assess and provide proposals on the long-term remuneration policy of the Company and the Group (the main fixed part of the remuneration, performance-based remuneration, pension insurance, other guarantees and forms of remuneration, compensations, severance pays, other components of the remuneration package), other principles of compensation for costs related to the individual’s performance;
assess and provide proposals on the policy of bonuses of the Company and the Group;
monitor the compliance of the policy of remunerations and bonuses of the Company and the Group with the international practice and good governance practice recommendations, and provide respective proposals for the improvement of the policy of remunerations and bonuses;
provide proposals concerning bonuses upon distribution of distributable profit (losses) of the Company and the Group of the respective financial year;
assess the terms and conditions of agreements of the Company and the Group with members of management bodies of the Company and the Group;
INTERIM REPORT FOR H1 OF 2015 Corporate governance
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