The Cabinet of Ministers has approved a contract signed with acting board chairman of public joint-stock company Ukrzaliznytsia Yevhen Kravtsov.

The decision was made at a government meeting on September 27, 2017 without discussing the issue.

According to the contract, a copy of which has been sent to Interfax-Ukraine, Kravtsov as a board member will receive UAH 500,200 monthly salary and if he fulfills the duties of the board chairman he will receive UAH 714,600 a month.

He will also receive a quarterly bonus that cannot exceed three monthly basic salaries. The annual bonus is foreseen that cannot exceed 24 monthly basic salaries.

The bonuses are not paid if the company did not see profit over the period, the company has an overdue debt to the budget, the company increased wage debts, and the company did not fulfill decisions of the supervisory board.

Thus, without bonuses for service record and academic degrees and if Kravtsov meets all the requirements of the contract he could earn UAH 24 million on the post of the board member and UAH 26.6 million on the post of acting board chairman. This is around $1 million, according to the exchange rate of the National Bank of Ukraine (NBU) as of September 27, 2017.

He was appointed acting board chairman of Ukrzaliznytsia on September 9, 2017.