Minutes of 10.06.2008 №57

MINUTES No. 57

OF THE BOARD OF DIRECTORS MEETING


Date and time of vote counting:                                        June 10, 2008, 6:00 p.m.

                                                                                     (Moscow time)

Site of vote counting:                                                       Mosсow, Arkhitektora Vlasova Str., 51

Number of elected members of the Board of Directors           13

Members of the Board of Directors present at meeting:         V. B. Khristenko 

                                                                                     A. B. Chubais

                                                                                     B. I. Ayuev

                                                                                     D. A. Askinadze

                                                                                     D. V. Ponomarev

                                                                                     A. N. Rappoport

                                                                                     Seppo Remes

                                                                                     V. Yu. Sinyugin

                                                                                     Yu. A. Udaltsov

                                                                                     Ya. M. Urinson

                                                                                     R. Z. Khamitov

                                                                                     David Khern


In compliance with Federal Law on Joint-Stock Companies and the company's Articles of Association the quorum for conducting the Board of Directors' meeting is present.

 

AGENDA OF THE BOARD OF DIRECTORS MEETING:

 

1. Termination of the powers of Chairman of the Management Board of JSC RusHydro


RESULTS OF VOTING ON AGENDA:

 

Matter 1: Termination of the powers of Chairman of the Management Board of JSC HydroOGK.

 

Decision:

1. Early-terminate the powers of Vyacheslav Yuryevich Sinyugin as Chairman of the Management Board of JSC HydroOGK and terminate his labour agreement on June 10, 2008 as may be agreed between the parties (Labour Code of the Russian Federation Article 77 Part 1 clause 1).

2. Pay Vyacheslav Yuryevich Sinyugin a compensation to the amount of his actual salary for the last 12 months working as Chairman of the Management Board of JSC HydroOGK (in accordance with clause 3.2 of the Provision on bonuses and compensation (social package) for the Chairman of the Management Board of JSC HydroOGK).

3. In order to allow V. Yu. Sinyugin to take part in the Employee Stock Option Plan of JSC HydroOGK, V. Yu. Sinyugin shall be entitled to purchase shares to the amount that is proportional to his working time at the company (using the work time factor)

4. Authorise Anatoly Borisovich Chubais, Chairman of the Management Board of JSC RAO UES of Russia to sign on behalf of JSC HydroOGK an agreement on termination of labour contract and a compensation payout agreement with Chairman of the Management Board of JSC HydroOGK V. Yu. Sinyugin as provided for in clause 3.2. In accordance with clause 3.2 of the Provision on bonuses and compensation (social package) to the Chairman of the Management Board of JSC HydroOGK


Voting results:

"For" - 11 (V. B. Khristenko, A. B. Chubais, B. I. Ayuev, D. A. Askinadze, D. V. Ponomarev, A. N. Rappoport, Seppo Remes, V. Yu. Sinyugin, Yu. A. Udaltsov, Ya. M. Urinson, R. Z. Khamitov).

"Against" - 0.

"Abstained" - 1 (David Khern).

Decision made.


Questionnaires of the members of the Board of Directors are attached.

 


 

Chairman of the Board of Directors                                   V. B. Khristenko

 

Secretary of the Board of Directors                                   M. M. Davydov

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