Remuneration principles of Board of Directors members and high level executives targets management of rights that will be given to Board of Directors members and high level executives with regards to company’s long-term targets and its performance, according to Capital Markets Board and Turkish Commerce Law.
Compensation of Board of Directors members are determined monthly as gross, by also taking opinions of the related committee, and is presented to the approval of General Assembly. It is essential that compensation of Independent Members of Board of Directors is in a level to enable them to keep their independence. Stock options or payment plans depending on company’s performance are not used for compensation of Independent Members of Board of Directors.
Compensation and material benefits of high level executives are determined with regards to indicators of their position in the company, responsibility, experience, and performance; relevant to equivalent work conditions, and in accordance with company’s strategies and policies. Compensation paid and all other benefits provided are presented to the public by annual activity report.
It is also possible that in addition to the monthly fixed payments determined according to mentioned principles, high level executives and Board of Directors members can also be given other benefits and performance premiums that will serve long-term performance of the company.