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Global Rewards Update: Russia - 22 Dec 2009

Long term incentive plans: Federal Financial Markets Service (FFMS) clarifies May 2009 changes to securities market legislation

This communication is an update to the Russia Global Rewards Update released in July 2009. It addresses the recent announcement by the head of the Russian Federal Financial Markets Service (FFMS) regarding operation of employee shares plans in light of the May 2009 securities law amendments.

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