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各位薪酬委员会委员：

Dear Remuneration Committee members,


为促进公司长期健康发展，从有利于公司吸引和留住优秀人才出发，董事会要求管理层
尽快开展公司薪酬水平的市场调研和对标。公司聘请了业内知名的薪酬咨询公司―怡安
翰威特麦理根对中国PE行业的薪酬进行了市场调研，对目前公司各岗位员工及高管层的
薪酬进行对标定位分析，并就公司薪酬体系调整作出建议，具体如下：

For the purpose of attracting and retaining talents to support the
development of the company’s business, the board of directors requested the
company to do a remuneration system review. McLagan was engaged by the
company to review its remuneration system against the Chinese PE industry,
conducting benchmarking analysis of each company’s position, as well as an
adjustment proposal for the company’s remuneration system.


本次公司薪酬方案设计主要涵盖两个方面，2014-2016年全员薪酬水平设计和奖金包提
拨设计。公司属于初创期，但出于对现有人员的保留激励及对外界优秀人才吸引的需
求，在薪酬调整原则上采用跟随型的薪酬定位，即以市场P50为公司薪酬目标。目前公
司员工的薪资完全沿袭渤海基金的薪酬水平，与本次选取的四个群体12家对标公司相
比，公司现有固定薪酬和全面现金薪酬均处于市场25分位之下，与市场25分位值仍有较
大差距，差额幅度为20%-70%。方案给出的总体调整原则是随着公司业务的发展，盈利
能力的增强，在2年时间内采取逐步调整的方式实现最终实现市场P50的薪酬定位。

The proposal mainly covers two aspects, including a remuneration system
proposal for the year 2014 to 2016, and an annual bonus package allocation
mechanism. As a start-up, the company will follow the market remuneration
levels, targeting the 50th percentile market compensation level. Currently,
the company has adopted the remuneration system of Bohai Capital, which is
20%-70% below the 25th percentile market compensation level when benchmarked
against 12 of its peers. The proposal suggests that as the company develops
its business and improves its profitability, it can step by step adjust its
remuneration system to bring it in line with the 50th percentile market
compensation level.


附件是薪酬激励体系报告，请薪酬委员会委员审阅。薪酬事项将是本次董事会的一项议
程。

Attached is Compensation and Incentive System Design Report for your review.
And this will be one topic of the coming board meeting.


Regards,


诸晨刚 Jason Zhu

执行董事 Executive Director


渤海华美（上海）股权投资基金管理有限公司

Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.

31/F, Unit 3101, Tower 2, China Central Place, 79 Jianguo Road,

Chaoyang District, Beijing 100025, China

北京市朝阳区建国路79号华贸中心写字楼2座31层3101室 邮编：100025

Tel: 86 10 5969 5858

Fax: 86 10 5969 6123

Email: <mailto:jason.zhu@bhrpe.com> jason.zhu@bhrpe.com