Remuneration Policy
Remuneration Policy document (“Remuneration Policy”) defines the remuneration system and procedure applicable to the Board Members and Senior Managers of Türk Telekomünikasyon A.Ş. (the “Company”) under the Capital Markets Board (“CMB”) regulations.
A fixed salary is determined in every ordinary general assembly meeting in order to be applied to each Board Member. In any case, the salaries of the independent board members shall be determined at a level which will not adversely affect the independent exercise of their decision making. Stock options or payment plans based on the performance of the Company shall not be used while determining the salaries of the independent board members.
The Board Members are paid according to pro rata principle, by taking into consideration their term of duty, starting from their appointment and ending on their resignation dates. The expenditures assumed by the Board Members while performing their duties for the Company (transportation, communication, accommodation, insurance costs etc.) may be compensated by the Company.
The remuneration of the Senior Managers is variable and is composed of two components; fixed and performance based remuneration. Türk Telekom doesn’t have Golden Parachute practice in its executive compensation practices.