Activity of HR and Remuneration Committee

The HR and Remuneration Committee operated on the basis of approved semi-annual plans developed by the Committee. The Committee held six meetings during the reporting period.

The Committee prepared recommendations to the Board of Directors for decisions on the following issues: achievement of efficiency targets by senior managers of Rosneft and amounts of their annual remuneration for 2009; amendments to the organizational structure of Rosneft; appointment of a Corporate Secretary; determination of the number of members of the Collegial Executive Body (Management Board) of Rosneft; early termination of the authority of the Management Board members and appointment of new members; simultaneous occupancy by Management Board members of posts in governing bodies of other organizations; and approval of efficiency indicators for senior managers of Rosneft in 2010.