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The document ceased to be valid since  January 1, 2016 according to Item 3 of the Order of the Government of the Republic of Kazakhstan of December 31, 2015 No. 1183

ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 10, 2008 No. 558

About approval of the Standard regulations on payment terms of work and awarding of leading employees of the national companies, joint-stock companies which controlling stocks the state owns

(as amended on 02-12-2014)

According to the subitem 9) of Article 15 and Item 6 of Article 126 of the Labor Code of the Republic of Kazakhstan of May 15, 2007 the Government of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Standard regulations on payment terms of work and awarding of leading employees of the national companies, joint-stock companies which controlling stocks the state owns (further - the Standard provision).

2. To the state bodies performing rights of possession and uses of controlling stocks of the national companies and joint-stock companies to provide establishment by the boards of directors of the national companies and joint-stock companies which controlling stocks the state, payment terms of work and awarding of leading employees according to the Standard provision owns.

Payment terms of work and awarding of the chairman and board members of joint-stock company "National welfare fund "Samruk-Kazyna" are determined by the board of directors of joint-stock company "National welfare fund "Samruk-Kazyna".

3. Recommend to joint-stock companies "National welfare fund "Samruk-Kazyna", "National managing holding "Kazagro", "National information holding of "Arn Media", "National scientific and technological holding "Parasat", "National infocommunication holding "Zerde", concerning the national companies and joint-stock companies which blocks of shares are transferred by the state to their authorized capital, in accordance with the established procedure to determine payment terms of work and awarding of leading employees according to the Standard provision.

4. Declare invalid the order of the Government of the Republic of Kazakhstan of March 12, 2007 No. 183 "About some questions of compensation of leading employees of the national companies and joint-stock companies which controlling stocks the state" (owns SAPP of the Republic of Kazakhstan, 2007, No. 8, of the Art. 88).

5. This resolution becomes effective from the date of signing.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of June 10, 2008 No. 558

Standard regulations on payment terms of work and awarding of leading employees of the national companies, joint-stock companies which controlling stocks the state owns

1. General provisions

1. This Standard regulations on payment terms of work and awarding of leading employees of the national companies, joint-stock companies which controlling stocks the state owns (further - the Standard provision) are developed for the purpose of ensuring single approaches in questions of payment and motivation of work of leading employees of the national companies, joint-stock companies which controlling stocks the state owns (further - the organizations).

2. The basic concepts used in this Standard provision:

compensation - system of the relations connected with ensuring obligatory payment to the worker of remuneration for its work according to the Labor code of the Republic of Kazakhstan and this Standard provision;

official pay rate - the fixed amount of compensation of the worker in month for accomplishment of regulations of work (labor obligations) taking into account qualification of the worker, complexity, quantity, quality and conditions of the performed work;

remuneration following the results of work in year - the award paid to leading employees of the organization once a year depending on results of work for the purpose of financial incentive of the achieved success and increase in overall performance. Remuneration following the results of work in year has no permanent character.

3. Treat leading employees of the organization:

1) first head (president, chairman of the board and so on);

2) deputy manager (vice-president, vice chairman of the board and so on);

3) member of executive body (Board).

4. Compensation and awardings of leading employees of the organization is made at the expense of the means provided on compensation in the budget of the organization for the current financial year.

5. The size of monthly official pay rate, the right to remuneration following the results of work for year of the leading employee of the organization are determined in the employment contract signed in the procedure established by the legislation.

6. This Standard provision does not extend to foreign specialists - the leading employees attracted in accordance with the established procedure in the organization. Payment terms of work of foreign specialists - leading employees are determined by the solution of the Board of directors of the organization.

2. Payment terms of work and awarding

7. The size of monthly official pay rate of leading employees of the organization is determined differentially depending on complexity of the performed work, post, features and scales of production (business) and the related risks, industry specifics of work, from role and the place of the organization in social and economic development of the republic and is established by the solution of the Board of directors of the organization.

7-1. No. 1266 is excluded according to the Order of the Government of the Republic of Kazakhstan of 02.12.2014

8. Payment of remuneration following the results of work in year is made for strengthening of interest of leading employees of the organization in increase in production efficiency and quality of work.

9. Amount of remuneration following the results of work in year is determined on the basis of individual approach to assessment of activities of each leading employee of joint-stock companies which controlling stocks are owned by the state, except for of national managing holdings, national holdings, the national companies and depends on qualitative and quantitative indices of accomplishment of their development plan.

10. The procedure and conditions of payment of remuneration following the results of work in year to leading employees of the organization are determined by the solution of the Board of directors of the organization.

11. Remuneration following the results of work in year is paid to leading employees by results of financial year after approval in accordance with the established procedure of results of financial and economic organization activity on the basis of the audited financial reporting.

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