Personnel Compensation Policy

The Company sets the Personnel Compensation Policy based on the Labor Law No. 4857 of 22.05.2003 as a reference. 

In this context: 

Severance Pay is paid to the Personnel, whose service contract terminates due to a reason as provided in the law no. 4857 and, who is entitled to Severance Pay due to their seniority for a certain period based on the service period and wage in accordance with the pertinent provisions of the said law, or to their legal inheritors upon the death of the said personnel. 

Payment in Lieu of Notice applies based on article 17 of the law no. 4857 by means of (i) notifying the personnel that their service contract shall terminate, in accordance with the required periods as set forth in the law according to the seniority of the said personnel and granting them a permit to look for a job or (ii) paying the wage of the personnel in cash up to the end of the period of notice.