Remuneration Policy for Board Members and Senior Management
This remuneration policy defines the remuneration system and procedure applicable to the Board Members and Senior Managers of the company under the Capital Markets Board regulations.
Remuneration Policy for the Members of Board of Directors
A fixed remuneration is determined for all members of the Board at the Ordinary General Assembly of the Company, upon the suggestions of our shareholders.
In remuneration of the independent board members, stock options or payment plans based on the performance of the company may not be used.
The expenses incurred by the Board Members on account of making contributions to the company (transportation, telephone, insurance etc.) can be compensated by the company.
Based on the Article 16 of Articles of Association and the approval of General Assembly, up to 5% of the distributable profit can be reserved to allowance for the Board Members after primary dividend reserved.
Remuneration Policy For Senior Management
The remuneration of senior management is determined by taking into account market data, the salary policies prevailing in the market, the size and long-term targets of the Company and the positions of the individuals.
Bonuses for senior management are calculated based on actual corporate performance as well as individual performance.
The criteria applied are summarized below:
The total remunerations determined by above mentioned principles and paid to Senior Management and Board Members during the year, shall be notified to the shareholders in following General Assembly Meeting in accordance with the applicable legislation.