Rewards and compensation

Remuneration to the Supervisory Board, Audit Commission and the executive body of «Navoiyazot» JSC

Supervisory Board and Audit Commission

The procedure and amount of remuneration and compensation paid to members of the Supervisory Board of «Navoiyazot» JSC and the Audit Commission is determined by the Regulations on Remuneration and Compensation to Members of the Management and Control Bodies of «Navoiyazot» JSC by the decision of the General Meeting of Shareholders of the Company.

«Navoiyazot» JSC provides for the following types of remuneration for members of the Supervisory Board, which are paid based on the results of an independent assessment of the corporate governance system and financial performance of the company:

• remuneration for performing the duties of a member of the Supervisory Board (paid to each member of the Supervisory Board);
• remuneration for performing the functions of the Chairman of the Supervisory Board;

In addition, the members of the Supervisory Board and the Audit Commission of the Company are compensated for the actually incurred and documented expenses related to participation in the work of the Supervisory Board and the Audit Commission in the amount, procedure and according to the rules for reimbursement of travel expenses, which are established in «Navoiyazot» JSC.

No remuneration was paid to the members of the Supervisory Board and the Audit Commission at the end of 2013, 2014, 2015, 2016 and 2017. The decisions taken by the General Meeting of Shareholders are reflected in the relevant minutes.

At the end of 2018, the General Meeting of Shareholders (Minutes No. 36) made a decision to pay remuneration to members of the Supervisory Board in the total amount of 9,587,936 sum, to members of the Audit Commission in the total amount of 1,929,460 sum.

Regulation on remuneration and compensation of members of the management and control bodies of «Navoiyazot» JSC

Management Board of «Navoiyazot» JSC

The procedure and amount of remuneration paid to members of the Management Board of «Navoiyazot» JSC is determined by the Regulations on Remuneration to Members of the Executive Body (Management Board) of «Navoiyazot» JSC (revised version) by the decision of the General Meeting of Shareholders of the Company.

Payments made to members of the executive body on a monthly basis, regardless of the results of the current activities of the enterprise, include:

• official salary according to the staffing table;
• payments in accordance with the law (payments for honorary titles, for length of service (seniority bonus), payments according to established coefficients for work in high-mountainous, desert and waterless areas, etc.)

The remuneration of the members of the executive body is carried out in the form of a bonus at the end of the year, calculated taking into account the achieved KPI values.

No remuneration was paid to members of the Executive Body (Management Board) at the end of 2013, 2014, 2015, 2016 and 2017. The decisions taken by the governing bodies are reflected in the corresponding protocols.

At the end of 2018, the Supervisory Board of the company made a decision (Minutes No. 122) on payment of remuneration to the executive body in the total amount of 101.132.196 sum.

Regulations on remuneration of members of the executive body (board) of «Navoiyazot» JSC