Compensation Policy

Article 1: Definitions, Scope and Legal Basis

As Çates Elektrik Üretim A.Ş. ("Company"), the Company bases its compensation policy on the provisions of the Labor Law No. 4857, Company Retirement Procedures Procedure, Dismissal Procedure and Collective Labor Agreement. “Severance Pay” refers to the amount paid at the time of termination of employment to employees who have worked for at least one year in the company, whose employment contract ends due to one of the situations stipulated in Law No. 4857.
“Notice Compensation” refers to the amount paid to those whose employment contracts have ended upon termination of employment, depending on the periods stipulated in the law no. 4857, according to the seniority of the worker and the situations stipulated in the law. “Notice Priority” is the period in which the remaining working period is expressed when notifying the employee that the employment contract will be terminated and can also be evaluated by granting a job search permit. Additionally, if the termination is made by the employee, notice is taken into consideration. • 2 weeks notice period for employees with less than 6 months of service • 4 weeks for employees with 6 months to 1.5 years of service • 6 weeks for employees with 1 year to 3 years • 8 weeks notice period for employees with 3 years or more.

Article 2: Purpose

This Employee Compensation Policy (“Policy”) aims to specify the Company's compensation approach. This Policy aims to comply with the aforementioned laws and internal company regulations.

Article 3: Compensation Principles

Severance pay can be received for working at the workplace for at least 1 year.
Severance pay payment is made in accordance with the articles regulating the termination rules specified in the law,
Transactions carried out with the employee's consent; Severance pay is not paid in accordance with the articles of termination by the employee and termination of the employment contract by the employee during the trial period,

Transactions carried out without seeking the employee's consent; Severance pay is not paid in cases of termination by the employer during the trial period, transfer of the employer from one workplace to another without a fundamental change in the working conditions, and in case of termination of the employment contract by the employer for justified reasons,
Severance pay is paid if the female worker gets married and completes the conditions other than the age limit for retirement, which is a situation the employee is in voluntarily.

Severance pay is paid within the scope of the employee's active duty military service, but this is not valid for those who are maneuvered outside of their active duty and the relevant articles of Law No. 4857 are valid.
Severance pay is calculated based on the gross wage, which is formed by adding meal and travel fees and other fringe benefits determined by the company, provided that the legal ceiling determined in the period when it is paid is not exceeded.
Notice compensation is calculated in the same way based on the gross wage.
In case of termination of employment contract by the Company for valid reasons; The employment contract is terminated by complying with valid termination procedures such as taking a defense and notifying the employee, and in this case, all severance pay, notice pay, (in cases where notice is not given), annual leave, national and general holidays, week holidays and other rights to which the employee is entitled are fully paid. . In case the employment contract of the employees is terminated for a valid reason, compensation and receivable payments are made through the application of the employee or through reconciliation negotiations held with the mediator to be determined together, and the payments are recorded in the minutes.

Since compensation payments are counted as wages, confidentiality, like other personnel rights, is essential.