Board of Directors

Bonuses are not paid to members of the Board of Directors who are government employees and / or exercise their powers in accordance with job requirements. Bonuses are not paid to Chairman of the Board for his work at the Board of Directors. Thus, the bonuses are paid only to independent directors. Conditions and procedure of bonuses payment and compensation to the members of the Board of Directors are determined by the decision of the Sole Shareholder.

In compliance with Article 25 of the Regulation on the Board of Directors of JSC "Immovable property Fund" Samruk-Kazyna" the independent directors of the Fund, in accordance with the laws of the Republic of Kazakhstan, during the performance of their duties, may be paid bonuses and (or) compensation for expenses related to the performance of their duties as members of the Board Directors.

The procedure and size of bonuses and refund of charges made by the independent directors shall be determined by the decision of the Sole shareholder.
In a accordance with international best practice in corporate governance, the independent directors of the Fund shall be paid:

• a fixed fee - for the performance of duties of a member of the Board of Directors, the bonuses are paid by the Fund in monetary form semiannually proportionally to the period of works of the Directors in corresponding half of the calendar year;
• additional allowances - for participation in the committees meetings of the Board of Directors, which shall be paid by the Fund during the month following the date of committees meetings of the Board of Directors.

The refund of the charges to the independent Director is related to departures to meetings of the Board of Directors (travel, accommodation, per diem), that are held outside the place of residence of the independent director.