Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 396

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 396
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star Group Ltd. Board, and will render such service without any additional compensation. Employment Agreements Kyivstar has entered into employment agreements with its executive officers. These employment agreements are governed by the laws of the Ukraine. The employment agreements provide for employment for an indefinite period in respect of Kyivstar’s Chief Executive Officer and for a fixed term in respect of Kyivstar’s Chief Financial Officer, in each case unless we or the executive officer gives prior written notice to terminate such employment. The employment agreements provide for the compensation that Kyivstar’s executive officers are entitled to receive. Short-Term Incentive Plan The Kyivstar Group Ltd. Board intends to adopt, subject to approval by the Kyivstar Group Ltd. Board, a discretionary short -term, cash -basedincentive plan (the “STIP”). The STIP is expected to provide for cash pay -outsto participating employees, normally in respect of a single calendar year period, based generally on the achievement of established Key Performance Indicators (“KPIs”) and/or continued employment over a period of up to 12months. Under the STIP scheme, the on -targetaward for Kyivstar Group Ltd.’s executive officers is expected to generally range between 60% to 100% of the annual base salary. The STIP is expected to be paid out entirely in cash, subject to certain exceptions requiring Board approval. The maximum payout opportunity for the executive officers is expected to be 150% of their on -targetlevel STIP award, subject to certain exceptions for exceptional circumstances pursuant to Kyivstar Group Ltd. Board approval. KPIs will be generally set at the beginning of each calendar year and evaluated in the first quarter of the following year. The cash pay -outof the STIP award is to be scheduled in the first quarter of the year following the assessment year, and is subject to continued active employment during the year of assessment (except in limited “good leaver” circumstances, in which case there will be a pro -ratareduction) and on the date of payout, as well as a pro -ratareduction if the participant commenced employment after the start of the year of assessment, but not later than the October 1 stof such year, unless the Board, in its discretion, determines otherwise. In accordance with Kyivstar Group Ltd.’s Policy for Recovery of Erroneously Awarded Compensation to be adopted prior to or concurrently with the listing of the Kyivstar Group Ltd. Common Shares on