OREANDA-NEWS. September 30, 2010. Sistema’s (the “Corporation”) Board of Directors has approved a new set of terms for Sistema’s three year Long-Term Incentive Programme for senior and middle management. Under the new terms, additional remuneration linked to the growth of Sistema’s capitalization can be granted to the participants of this programme both in the form of cash bonuses and in the form of ordinary shares, reported the press-centre of Sistema.

More than one hundred members of Sistema’s management could potentially participate in the programme. The total amount of Sistema’s stock to be used to fund the programme will amount to 2.4% of Sistema’s total issued share capital, with a potential increase to 3%, subject to management meeting all of the programme’s targets.
 
The goal of the incentive programme is to motivate Sistema’s senior and middle management to increase shareholder value and the Corporation’s market capitalisation, as well as to create a positive environment for maintaining long-term working and corporate relations.