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ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of December 31, 2015 No. 1183

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

According to the subitem 3) of Article 15 of the Labor code of the Republic of Kazakhstan of November 23, 2015 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. Declare invalid some decisions of the Government of the Republic of Kazakhstan according to appendix to this resolution.

4. This resolution becomes effective since January 1, 2016 and is subject to official publication.

Prime Minister of the Republic of Kazakhstan

K. Masimov

Approved by the Order of the Government of the Republic of Kazakhstan of December 31, 2015 No. 1183

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:

1) compensation - system of the relations connected with ensuring obligatory payment with the employer to the worker of remuneration for its work according to the Labor code of the Republic of Kazakhstan of November 23, 2015, other regulatory legal acts of the Republic of Kazakhstan, and also agreements, labor, collective agreements, acts of the employer and this Standard provision;

2) 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;

3) annual bonus - the remuneration following the results of work in year paid to leading employees of the organization once a year depending on results of work with the purpose of financial incentive of the achieved success and increase in overall performance. The annual bonus has no permanent character.

3. Treat leading employees of the organization:

1) first head;

2) deputy manager;

3) member of executive body (board).

4. Compensation and awarding of leading employees of the organization are 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 annual bonus of the leading employee of the organization are determined in the employment contract signed according to the procedure, established by the legislation of the Republic of Kazakhstan.

2. Payment terms of work and awarding

6. 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. Payment of annual bonus is made for strengthening of interest of leading employees of the organization in increase in production efficiency and quality of work.

8. The size of annual bonus 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 joint-stock companies which are national managing holdings, national holdings, the national companies which are part of national managing holdings, national holdings, and depends on qualitative and quantitative indices of accomplishment of their development plan.

9. The procedure and conditions of payment of annual bonus to leading employees of the organization are determined by the solution of the Board of directors of the organization.

10. Annual bonuses are 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.

11. Calculation of the average salary of the leading employee is made according to the procedure, established by the legislation of the Republic of Kazakhstan, without annual bonus.

12. Payment terms of work and awarding of leading employees of the organization are determined by the solution of the Board of directors.

13. In case of establishment of wages system and awarding of leading employees the Board of directors of the organization is guided by this Standard provision.

Appendix

to the Order of the Government of the Republic of Kazakhstan of December 31, 2015 No. 1183

List of invalid some decisions of the Government of the Republic of Kazakhstan

1. The 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 SAPP of the Republic of Kazakhstan, 2008, No. 29, of the Art. 291).

2. Item of 12 changes and additions which are made to some decisions of the Government of the Republic of Kazakhstan, approved by the order of the Government of the Republic of Kazakhstan of November 12, 2008 No. 1048 "About some questions of joint-stock company "National welfare fund "Samruk-Kazyna".

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