Data on remuneration for the Board of Directors members

English

The company shall disclose information on remuneration amount for the Board of Directors members to concern parties in compliance with the laws of Kazakhstan, Charter of KEGOC, KEGOC’s  Governance Code.

On 29 April 2015, the General Meeting of KEGOC Shareholders determined (Minutes No. 1) the size of and conditions for remuneration and compensation of expenses to the members of the Board of Directors of KEGOC for fulfillment of their duties. 

Remuneration shall be paid to independent directors of KEGOC according the Joint stock companies law of Kazakhstan   and KEGOC’s Charter.
Remuneration of the Company’s independent directors shall be as follows:

  •    annual fixed remuneration;
  •    additional remuneration.

Annual fixed remuneration shall be paid to independent director for being a member of the Company’s Board of Directors in the amount defined by the Sole Shareholder according to the laws of Kazakhstan.
Additional remuneration to the members of the Board of Directors shall be based on the following criteria:

  •     Amount of fixed remuneration for being a chairman of the Board of Directors Committee.
  •     Amount of fixed remuneration for being a member of the Board of Directors Committee.

 

The independent director shall be compensated for the expenditures (travelling, accommodation, daily allowance) incurred in connection with attendance at the meeting of the Board of Directors held outside the place of permanent residence of the director. 
The compensation shall be limited to the standard business travel rates specified in the Company’s internal documents.
In case of early termination of the powers of the Board of Directors member the annual fixed remuneration that based on the performance results shall be adjusted accordingly to match the number of days that the member was on the Board.

 

RULES REMUNERATION AND REIMBURSEMENT OF EXPENSES TO THE MEMBERS OF THE BOARD OF DIRECTORS OF KEGOC