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Walaa Cooperative Insurance Co.
Adel Khashoggi Building
Custodian of the Two Holy Mosques Road P.O. Box 31616, Khobar 31952
Kingdom of Saudi Arabia www.walaa.com
Policies and Procedures of the Board Membership
Appointment
و رـيياـعمو تاسايس
ءاـضـعأ نـييـعت تاءارـجإ ةرادﻹا سلـجم
Version (2) aapproved by the General Assembly on
29/05/2018 خيراتب ةماعلا ةيعمجلا لبق نم اهيلع قفاوم (٢) رادصﻹا ٢٩ / ٠٥ / ٢٠١٨ م
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١ . ﺔﻣﺪﻘﻣ ةددحمو ةحضاو تاءارجإو ريياعم عضو ىلإ تاسايسلا هذه فدهت ةرادإ سلجم يف ةيوضعلل ينواعتلا نيﻣأتلل ءﻻو ﺔكرش
هذه دنتستو
دقنلا ةسسؤم نع ةرداصلا تاميلعتلا و حئاوللا و ةمظنﻷا ىلع ةسايسلا ةراجتلا ةرازو و يدوعسلا يبرعلا رامثتسﻻاو
ىلإو ةيلاملا قوسلا ةئيهو
ﻷا ماظنلا ةﻛرﺸلل يساس .
1- Introduction
These policies aim at developing clear and specific criteria and procedures for membership of Walaa Cooperative Insurance Company (the Company) Board of Directors.
This policy shall be based on laws, regulations and instructions issued by the Saudi Arabian Monetary Agency (SAMA), Ministry of Commerce and Investment (MOCI) and the Capital Market Authority (CMA) and the Company's Articles of Association.
٢ . ةرادﻹا سلجﻣ ﺔيوضع ريياعﻣ سلجم ةيوضعل حشرملا يف ةيلاتلا ريياعملاو طورﺸلا نم ددع رفوت بجي صخش نع ًﻼثمم وأ ةيصخش هفصب حيشرتلا مت ءاوس ةرادﻹا ابتعا
ير :بصنملل هتمءﻼم مييقتل كلذ و
2- Board Membership Criteria
A candidate nominated for Board Membership shall meet the following conditions and criteria, whether nominated in his personal capacity or as a representative of a legal person to assess his eligibility for the position:
ءﻻولاو ةنامﻷاو قدصلا ئدابمب سلجملا ةيوضعل حشرملا مزتلي نأ ىلع اهميدقتو نيمهاسملاو ةﻛرﺸلا حلاصمب مامتهﻻاو ةيانعلاو .ةيصخﺸلا هتحلصم
The Candidate shall be committed to the principles of sincerity, honesty, loyalty, care and attention with respect of the interests of the Company and its shareholders and shall prioritize them over his personal interest.
ققحي امب مزتلي نأو ،نيمهاسملا عيمج ةرادﻹا سلجم وضع لثمي نأ
ةحلصم يتلا ةعومجملا حلاصم ققحي ام سيلو ًامومع ةﻛرﺸلا
.ةرادﻹا سلجم يف هنييعت ىلع تتوص يتلا وأ اهلثمي
The Board Member shall represent all the shareholders, and shall pay attention to the overall interest of the company, not only the interest of the group he represents or voted for his appointment as a Board Member.
وأ ،ةنامﻷاو فرﺸلاب ةلخم ةميرجب هتنادإ قبس دق حشرملا نوكي ّﻻأ
.هينئاد عم ًاحلص وأ تابيترت ىرجأ وأ هسﻼفإب مكح لاص ريغ وأ
ح .ةكلمملا يف ةيراس تاميلعت وأ ماظن يﻷ ًاقفو سلجملا ةيوضعل
The Candidate shall not be previously convicted of an offense against honor and honesty or declared bankrupt, made arrangements or composition with his creditors or disqualified from Board Membership pursuant to any law or regulations applicable in the KSA.
نوكي ّﻻأ ) سمخ نم رثﻛأ تارادإ سلاجم يف ًاوضع حشرملا ٥
( .دحاو تقو يف ةمهاسم تاﻛرش
The Candidate shall not be a Board Member of more than five (5) joint stock companies at the same time.
٣ . ﺔيوضعلا فينصت
3- Membership Classification o Honesty, Integrity & good
reputation o Ability to lead o Proper Qualifications
o Ability to guide and take decisions o Financial Knowledge; ability to
understand financial statements o Physical Fitness
ةنسحلا ةعمسلا و ةهازنلا و ةنامﻷاo ةدايقلا ىلع ةردقلا o و ةيملعلا تﻼهؤملا رفوتب كلذ و ةءافكلا o ةبسانملا ةيلمعلا رارقلا ذاختا و هيجوتلا ىلع ةردقلا o ىلع ًارداق نوكي نأب كلذ و ةيلاملا ةفرعملا o ةيلاملا مئاوقلا و ريراقتلا مهف ةيحصلا ةقايللا o
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"يذيفنتلا وضعلا"
ةرادﻹا يف ًاغرفتم نوكي يذلا ةرادﻹا سلجم وضع
ًايرهش ًابتار ىضاقتي و ةيمويلا لامعﻷا يف كراﺸي و ةﻛرﺸلل ةيذيفنتلا .كلذ لباقم
"Executive Member" means a Board Member appointed as an executive manager of the Company on full time basis, participates in the daily affairs and receives a monthly salary for the same.
"يذيفنتلا ريغ وضعلا"
ًاغرفتم نوكي ﻻ يذلا ةرادﻹا سلجم وضع
ةﻛرﺸلا ةرادإ يف ﻻ و ةيمويلا لامعﻷا يف كراﺸي ﻻ و ةﻛرﺸلا ةرادﻹ ًابتار ىضاقتي ﻻ و ،ةينفلا ةروﺸملا و يأرلا مدقي امنإ يونس وأ ًايرهش
ًا .كلذل
"Non-Executive Member" means a Board Member who is not a full-time manager of the Company and does not participate in its daily affairs or management. He, however, provides technical opinion and advice and does not receive a monthly or annual salary for the same.
"لﻘتسملا وضعلا"
مات لﻼقتسإب عتمتي يذيفنت ريغ ةرادإ سلجم وضع
،هتارارق و هزﻛرم يف رومﻷا ىلع مكحلل ةردقلا رفاوت ةيلﻼقتسﻻا ينعتو
ذخﻷا دعب ةيعوضوم و دايحب ةقﻼعلا تاذ تامولعملا عيمج رابتعﻻا يف
ةيلﻼقتسﻻا ققحتت ﻻو ،ةيجراخ تاهج نم وأ ةرادﻹا نم ريثأت يأ نود :رصحلا ﻻ لاثملا ليبس ىلع ةيتﻵا تﻻاحلا يف ةرادﻻا سلجم وضعل
"Independent Member" means a non-executive Board Member who is fully independent in terms of his status and decisions. Independence means the ability to judge matters impartially and objectively, taking into account all relevant information without any influence from the management or from third parties. A Board Member shall not be considered independent if, for example without limitation, such member:
ةقﻼع تاذ ةﻛرش يف وأ ةﻛرﺸلا يف نيمهاسملا رابﻛ نم نوكي نأ
هحلاصل لمعي وأ نيمهاسملا رابﻛ دحﻷ ًﻼثمم نوكي وأ ،اهب .
Is a senior shareholder in the Company or in an associated company or a representative of a senior shareholder or acts for his benefit.
اهل ةعبات ةﻛرش يأ وأ ةقﻼع تاذ ةرادإ سلجم يف ًاوضع نوكي نأ اذه لثم لغش دق نوكي و ةﻛرﺸلا ةعومجم نم ىرخأ ةﻛرش وأ نيتريخﻷا نيتنسلا لﻼخ بصنملا
.
Is a Board Member in an associated company or any of its subsidiaries or another company of the Company's group and held a similar position within the last two years.
تاونس عست نم رثﻛﻷ ةﻛرﺸلا ةرادإ سلجم يف ًاوضع نوكي نأ
ةلصفنم وأ ةلصتم
.
Is a member of the Company's Board of Directors for more than nine (9) consecutive or non-consecutive years.
تاذ ةﻛرش ةرادإ يف وا ةﻛرﺸلل ايلعلا ةرادﻹا يف ًابصنم لغﺸي نأ اهيف ًابصنم لغش دق نوكي وأ نيمهاسملا رابﻛ دحأ ىدل وأ ةقﻼع نيتريخﻷا نيتنسلا لﻼخ
.
Holds a position in the senior management of the Company or in the management of an associated company, or now holds or held within the last two years a position at a senior shareholder.
ةﻛرش ىدل وأ ةقﻼع تاذ ةﻛرش ىدل وأ ةﻛرﺸلا ىدل ًافظوم نوكي نأ
تامدخ مدقت ،ةيراﺸتسﻻا بتاكملا ،تاباسحلا بقارم لثم) ةﻛرﺸلل
ًاكلام وأ فارطﻷا هذه دحأ ىدل لمعلا هل قبس دق نوكي وأ (خلا نيتنسلا لﻼخ فارطﻷا كلت نم يأ ىدل ةرطيسلا صصحل نيتريخﻻا .
Is or was an employee of the Company, an associated company or a company providing services to the Company (e.g. auditor, consulting offices, etc.) or of person holding controlling shares of any of such parties within the last two years.
ةﻛرﺸلا مهسأ نم رثﻛأ وأ ةئاملا يف ةسمخ هتبسن امل ًاكلام نوكي نأ
ةلص هل وأ اهتعومجم نم ىرخأ ةﻛرش مهسأ نم وأ نم عم ةبارق
.ةبسنلا هذه كلمي
Holds five (5) percent or more of the shares of the Company or of the shares of another company of its group or has a kinship with a person holding this percentage.
ةئاملا يف ةسمخ هتبسن ام كلمي ةيرابتعا ةفص يذ ًﻼثمم نوكي نأ .اهتعومجم نم ىرخأ ةﻛرش مهسأ نم وأ ةﻛرﺸلا مهسأ نم رثﻛأ وأ
Is a legal representative holding five (5) percent or more of the shares of the Company or of the shares of another company of its group.
سلجم ءاضعأ دحأب ةبارق ةلص هل وأ ةلصلا يوذ نم نوكي نأ
ةقﻼع تاذ ةﻛرش يف وأ ةﻛرﺸلا يف نييذيفنتلا رابﻛ وأ ةرادﻹا .
Is related to or has a kinship with a Board Member or a senior executive of the Company or an associated company.
لكﺸب ءاوس) ةﻛرﺸلا عم ةيراجت وأ ةيدقاعت ةقﻼع هيدل نوكي نأ
ةهج لﻼخ نم وأ رشابم ًاوضع وأ اهيف نيمهاسملا رابﻛ نم نوكي
يلام غلبم يقلت وأ عفد اهيلع بترت (اهيف ًاريدم وأ اهترادإ سلجم يف ) هتميق ام يواسي ةﻛرﺸلا نم ٢٥٠
فﻼخب) يدوعس ﷼ فلأ (
Has a contractual or commercial relationship with the Company (whether directly or through an entity in which he is a senior shareholder, a Board Member or a manager thereof), led to the payment or receipt of a sum equivalent to SR 250,000 from the Company (Other than the amounts related to the insurance contracts and remunerations to which the member is
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ءاقل وضعلا اهقحتسي يتلا تآفاكملاو نيمأتلا دوقعب ةقلعتملا غلابملا نيتنسلا لﻼخ (ةرادﻹا سلجم يف هتيوضع نيتريخﻷا
. entitled for his membership in the Board of Directors)
within the last two years.
جم ءاضعأ نم ّيأ وأ ةﻛرﺸلا هاجت يلام مازتلا هيدل نوكي نأ سل مكحلا ىلع هتردق ىلع رثؤي نأ نكمي لكﺸب ايلعلا اهترادإ وأ اهترادإ ةمات ةيلﻼقتساب تارارقلا ذاختاو .
Has a financial obligation towards the Company or any of its Board Members or senior management in such a way that may affect its ability to independently judge matters and make decisions.
دحأ يف رجتي نأ وأ ،ةﻛرﺸلا ةسفانم هنأش نم لمع يف كرتﺸي نأ
.ةﻛرﺸلا هلوازت يذلا طاﺸنلا عورف
Participates in a business that would compete with the Company or engage in an activity engaged by the Company.
٤ . حشرتلا تاءارجإ ةرادﻹا سلجﻣ ﺔيوضعل
4- Nomination Procedures of Board Membership
(أ عقوم و ةﻛرﺸلل ينورتكلﻹا عقوملا يف حشرتلا نﻼعإ رﺸن ةﻛرﺸلا ىلع ،ةيلاملا قوسلا ةئيه اهددحت ىرخأ ةليسو يأ يف و ينورتكلﻹا "لوادت"
نيبغارلا صاخشﻷا ةوعدل كلذ و .ةرادﻹا سلجم ةيوضعل حشرتلا يف
a) The Company shall publish the nomination
announcement on its website, “Tadawul” website and any other means set by the CMA in order to invite persons wishing to be nominated for the Board Membership.
(ب و ،نﻼعﻹا خيرات نم لقﻷا ىلع رهش ةدم ًاحوتفم حشرتلا باب لظي
.ةرادﻹا سلجم ةيوضعل حشرتلا تابلط ميدقتل فاﻛ تقو ءاطعﻹ كلذ
b) The nomination shall remain open for at least one month from the date of the announcement, in order to give sufficient time to apply for nomination for the Board Membership.
(ج مايق تآفاكملا و تاحيشرتلا ﺔنجل ةيوضعل حشرتلا تابلط ةساردب
.ةقﻼعلا تاذ تايصوتلا و تاظحﻼملا عيمج قيثوت و ةرادﻹا سلجم c) Nomination and Remuneration Committee shall
examine the applications for nomination for Board Membership and register all relevant notes and recommendations.
(د لبق ةباتﻛ يدوعسلا يبرعلا دقنلا ةسسؤم ةعنامم مدع ىلع لوصحلا ةسسؤملا تابلطتمل هتمءﻼم ةاعارم ىلع ،سلجملا ءاضعأ نم يأ باختنا يف ةيدايقلا بصانملا يف نييعتلا تابلطتم ةحئﻻ يف درو ام قفو :يلاتلاﻛ يه و ،ةسسؤملا فارشﻹ ةعضاخلا ةيلاملا تاسسؤملا
d) To obtain a written an NOC from SAMA before the election of any Board Member who meets SAMA's requirements as stated in the regulations of requirements for appointment in senior positions in financial institutions supervised by SAMA, as follows:
نييعتلا يف ةيولوﻷا نوكت لاح يف ةﻛرﺸلا ىلع و ،نييدوعسلل
لغﺸل لهؤملا يدوعسلا رفاوت مدع تابثإ يدوعس ريغ نييعتل ةجاحلا يف لهؤم يدوعس صخش لﻼحﻹ ةمزﻼلا ةدملا ديدحت عم بصنملا .بصنملا كلذ
Priority for appointment to Senior Positions shall be given to Saudi nationals. In cases where non-Saudi national is being appointed to a shall Position, the Financial Institution should demonstrate non- availability of qualified Saudis for the Position and provide timeframe for appointing a qualified Saudi national to that Position
ًاقفرم ةسسؤملا ةعنامم مدع ىلع لوصحلا تابلط ميدقت ةﻛرﺸلا ىلع لبق نم قدصملا و حشرملا لبق نم عقوملا ةمئﻼملا جذومن ؛اهب جئاتن و ،ةمئﻼملا جذومن يف ةبولطملا تادنتسملا عيمج و ،ةﻛرﺸلا .ةﻛرﺸلا هب تماق يذلا ةمئﻼملا مييقت
The Company shall submit requests for obtaining SAMA’s written NOC along with the eligibility form signed by the Candidate and approved by the Company as well as all the documents required by the eligibility form and the results of the eligibility assessment made by the Company.
داقعنا دعوم لبق ةسسؤملا ةعنامم مدع ىلع لوصحلا ةﻛرﺸلا بلطت دعوملا وأ ةرادﻹا سلجم وضع اهلﻼخ بختنيس يتلا ةماعلا ةيعمجلا ) نع لقت ﻻ ةدمب بصنملا يلوتل حرتقملا ٣٠
.ًاموي (
The Company shall obtain SAMA’s written NOC at least thirty (30) days prior to the date of the General Meeting during which the election of Board Member(s) will take place or the proposed start date for Candidates for positions.
ريغ وضع رايتخا سلجملا ىلع ،ةرادﻹا سلجم ءاضعأ باختنا دعب
ريغ وضع رايتخا و سلجملا ةسائرل يذيفنت ئرلل ًابئان يذيفنت
و سي
و .كلذب ةيباتكلا ةسسؤملا ةعنامم مدع ىلع لوصحلا ةﻛرﺸلا ىلع ىلع ةسسؤملا ةعنامم مدع ىلع لوصحلا ةﻛرﺸلا ىلع بجي ًاضيأ .ةرادﻹا سلجم نم ةقثبنملا ناجللا ةسائرل حيشرتلا
After Board members are elected, the Board shall nominate a non-executive Board member as chairman and another non-executive Board member as vice chairman, and the Company shall obtain SAMA’s prior written non-objection on those
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appointments. The Company shall also obtain
SAMA’s prior written non-objection certificate on the appointments of chairmen of Board committees.
ةﻛرﺸلا ىلع ،ةيباتكلا ةسسؤملا ةعنامم مدع ىلع لوصحلا دعب ةفصب ايلعلا ةرادﻹا و ةرادﻹا سلجم ءاضعأ ةمءﻼمل مييقت ءارجإ و ،ةيرود .ًايونس ةرم ىندأ دحب
After receiving SAMA’s written NOC on the appointment to Senior Position, the Company shall periodically, and at least annually, assess the eligibility and propriety of its Board Members and members of Senior Management on an on-going bas
(ـه و مهتﻼهؤم و نيحشرملا لوح ةيفاﻛ تامولعمب نيمهاسملا ديوزت
مهتاقﻼع .مهرايتخا ىلع تيوصتلا لبق ةﻛرﺸلاب
e) Provide the shareholders with sufficient information about the Candidate s, their qualifications and their relations with the Company before voting on their selection.
(و حرطت نيذلا ةرادﻹا سلجمل نيحشرملا ددع قوفي نأ بجي مهؤامسأ
ةماعلا ةيعمجلا ىدل نوكي ثيحب ةرفوتملا دعاقملا ددع ةماعلا ةيعمجلا مامأ .نيحشرملا نيب نم رايتخﻹا ةصرف
f) The number of Candidates for the Board of Directors put before the General Meeting shall be more than the number of seats available so that the General Meeting can select from among the Candidates.
(ز ةماعلا ةيعمجلا يف تيوصتلا دنع يمﻛارتلا تيوصتلا بولسأ دامتعا
ةرادﻹا سلجم ءاضعأ نييعت ىلع
g) Adopt the cumulative voting method when voting in the General Meeting on the appointment of the Board members.
(ح حشرتلا تابلط نم يأ ضفر دنع ةسسؤملا غﻼبإ ةﻛرﺸلا ىلع
.ضفرلا بابسأ ديدحت عم سلجملا ةيوضعل
h) The Company shall notify SAMA when any application for nomination for a Board Member is rejected, stating the reasons for rejection.
(ط ةيدايقلا بصانملا يف نييعتلاب ًايباتﻛ ةسسؤملا راعشإ ةﻛرﺸلا ىلع
) نع ديزت ﻻ ةدم لﻼخ ٥
ماهملل صخﺸلا يلوت خيرات نم لمع مايأ (
.بصنملاب ةطانملا
i) The Company shall notify SAMA in writing of the appointment to the senior positions within a period not exceeding (5) working days from the date of such person assuming duties assigned to the position.
٥ . حشرتلا ﺔيلآ
5- Mechanism of Nomination
ةيعمجلا دقع دعوم لبق ةرادﻹا سلجم ةيوضعل حشرتلا باب حتف متي
اهلﻼخ متي فوس يتلا ةماعلا باختنا
نع لقت ﻻ ةرتفب ءاضعﻷا
٤٥ .ًاموي
The nomination for Board Membership shall be opened at least 45 days prior to the date of the General Meeting during which the election of Board Member(s) will take place.
هتﻼهؤم نم ةخسنو ةيتاذلا هتريسب نايب ميدقت حشرملا ىلع
.ةيساردلا
A Candidate shall submit a CV and a copy of his academic qualifications.
ريغل رفسلا زاوج وأ نييدوعسلل ةينطولا ةيوهلا نم ةخسن
.نييدوعسلا
A copy of the national ID card for Saudis or a passport for non-Saudis.
يبرعلا دقنلا ةسسؤم نع رداصلا ةمئﻼملا ريياعم نايبتسإ ةئبعت
.هرييغت ةلاح يف هلحم لحي ام وأ يدوعسلا
Fill in SAMA's Eligibility Criteria Questionnaire or its replacement if it is changed.
) جذومن ةئبعت ٣
ةريسلاب صاخلا ( سلجم ةيوضعل حشرملل ةيتاذلا
ةلاح يف هلحم لحي ام وأ ةيلاملا قوسلا ةئيه نم رداصلا ةرادﻹا .هرييغت
Fill in Form (3) of the CV of Candidates for Board Membership issued by CMA or or its replacement if it is changed.
دحأ وأ ةرادﻹا سلجم ةيوضع مهل قبس نيذلا نيحشرملل ةبسنلاب
ددع هيف حضوي نايب ميدقت هناجل تاعامتجﻻا
جللاو اهرضح يتلا
نا .اهتيوضع يف كراش يتلا
For Candidates who have already been members of Board of Directors or one of its committees, they shall provide a statement indicating the number of meetings he attended and the committees of which he had been a member.
موقي يذلاو ،ةرادﻹا سلجم ريتركس ىلإ تادنتسملا هذه لسرت
.تآفاكملاو تاحيشرتلا ةنجل ىلع اهضرعب
These documents shall be sent to the Board Secretary who shall present them to the Nominations and Remuneration Committee.
6
تابلط يف حشرتلا باب قﻼغإ خيرات نم عوبسأ لﻼخ ةنجللا رظنت
ىدمو ةمدقملا حشرتلا اهئافيتسا
.ةقباسلا حشرتلا طورﺸل
The Committee shall, within one week from the date of closing the nomination, consider the submitted applications for nominations and whether they meet the previous conditions for nomination.
يذلا رارقلا حضوي نيحشرتملا عيمج ىلإ ًاراطخإ ةنجللا لسرت رطخي نأ بجي حشرم يأ ضفر ةلاح يفو ،هيلإ تلصوت .بابسﻷاب
The Committee shall send a notice to all Candidates indicating its decision. In the event that a Candidate is rejected, he shall be informed of the reasons.
ةصاخلا ةيتاذلا ةريسلاو ةمئﻼملا ريياعم نايبتسإ لاسرإ متي
نيذلا نيحشرملاب تقبطنا
دقنلا ةسسؤم ىلإ طورﺸلا هذه مهيلع
.ةسسؤملا ةعنامم مدع ىلع لوصحلل
The Eligibility Criteria Questionnaire and the CVs for Candidates who met these conditions shall be sent to SAMA for its NOC
دعب ) جذومن لاسرإ متي ،ةسسؤملا ةعنامم مدع ىلع لوصحلا ٣
( .ةيلاملا قوسلا ةئيه ىلإ
After obtaining SAMA's NOC, Form 3 shall be sent to CMA.
ينورتكلﻹا ةﻛرﺸلا عقوم ىلع نيحشرملل ةيتاذلا ةريسلا رﺸن متي
ةماعلا ةيعمجلا ءاضعأ ةوعدو عﻼطﻼل
.ةيتاذلا مهتريس ىلع
The Candidate s' CVs shall be posted on the Company’s website and the General Meeting members shall be invited to review their CVs...
٦ . ﺔيوضعلا ةﺪﻣ ثﻼث ةدمل ةرادﻹا سلجم ءاضعأ ةماعلا ةيعمجلا يف نومهاسملا نيعي .ءاضعﻷا نم هتيوضع تهتنا نم نييعت ةداعإ زوجيو ،تاونس
6- Term of Membership
The shareholders of the General Meeting shall appoint the Board Members for a period of three years and the members whose membership term expires may be reappointed.
٧ . ﺔيوضعلا ءاهتنا
7- Termination of Membership
وأ ةلاقتسﻹا لاح يف وأ نييعتلا ةدم ءاهتناب ةرادﻹا سلجم ةيوضع يهتنت رضت ةقيرطب هتابجاوب لخأ دق وضعلا نأ ةرادﻹا سلجمل تبث اذإ وأ ةافولا وأ ،ةيداعلا ةماعلا ةيعمجلا ةقفاومب كلذ نرتقي نأ طرﺸب ةﻛرﺸلا ةحلصمب ملا يف ةيراس تاميلعت وأ ماظن يﻷ ًاقفو هتيوضع ءاهتناب رعلا ةكلم
ةيب عم ةيوستلل ًابلط مدق وأ هراسعإ وأ هسﻼفإ رهﺸب مكح اذإ وأ ،ةيدوعسلا ضرمب بيصأ وأ روعﺸلا دقاف حبصأ وأ هنويد عفد نع هفقوت وأ هينئاد ،ريوزتلاب نيدأ وأ قﻼخﻷا و ةنامﻷاب ًﻼخم ًﻼمعب هباكترا تبث اذإ وأ يلقع The Board membership shall come to an end upon the
expiry of the term of his appointment, or in the event that the Board Member resigns, dies, is proven to the Board of Directors that he is in breach of his duties in a manner detrimental to the Company's interest on condition that this is accompanied by WALA"A's AGM approval, his membership is terminated in accordance with any KSA applicable regulations or laws, is declared bankrupt or insolvent, applies for a composition with his creditors or stops the payment of his debts, becomes insane, becomes mentally ill or proven to have committed an act against honesty or morals or is convicted of forgery,
نع هبيغت لاح يف وأ ٣
وأ لوبقم رذع نود ةدحاو ةنس لﻼخ تاعامتجا
عورﺸم و .ةرادﻹا سلجم ةيصوت ىلع ًاءانب هلزع ةماعلا ةيعمجلل زوجي
ةيعمجلل زوجي كلذ عم ءاضعأ عيمج لزع تقو لﻛ يف ةيداعلا ةماعلا
هاجت لوزعملا وضعلا قحب لﻼخإ نود كلذ و مهضعب وأ ةرادﻹا سلجم تقو يف وأ لوبقم ريغ ببسل لزعلا عقو اذإ ضيوعتلاب ةبلاطملاب ةﻛرﺸلا و بسانم تقو يف طرﺸب لزتعي نأ ةرادﻹا سلجم وضعل و بسانم ريغ ع ةﻛرﺸلا لبق نم ًﻻوؤسم ناﻛ ﻻإ .رارضأ نم لازتعﻹا ىلع بترتي ام
Or if the Board member is absent from 3 meetings within
one year without an acceptable or legal excuse, he may, upon the Board recommendation, be removed by the General Meeting. However, the AGM may, at all times, remove all or some of the Board members without prejudice to the right of the removed member toward the Company to claim compensation if the removal is for an unacceptable reason or at an inappropriate time. The Board Member may resign at an appropriate time;
otherwise, he would be liable towards the Company for the consequent damages of resignation.
يلغاش نم يأ ةلاقتسا لوبق دنع ًايباتﻛ ةسسؤملا راعشإ ةﻛرﺸلا ىلع لﻼخ ناﻛ ببس يﻷ بصنملا كلذ يف لمعلل هﻛرت وأ سلجملا ةيوضع ) ٥ .لمعلا كرت خيرات نم لمع مايأ (
The Company shall notify SAMA in writing upon the
acceptance of the resignation of any of the Board members or leaving serving in that office whatever the reason within five (5) working days from the date of leaving his position.
يف اهعابتإ بجاولا تاءارجﻹا سلجﻣ ءاضعأ ﺪحأ ﺔيوضع ءاهتنإ ﺔلاح
:ةرادﻹا Procedures Applicable if the Term of Board Member
Expires:
7
:ةيصخﺸلا مهتفصب ءاضعﻸل ةبسنلاب
For Board Members in their personal capacity:
متي بصنملا ولخ نم عوبسأ لﻼخ حشرتلا باب حتف نع نﻼعﻹا
تاذ فحصلا دحأ يف كلذ نع نﻼعﻹاو راﺸتنﻻا
The nomination opening shall be announced within . one week of the vacancy in a widely spread newspaper.
تابلط يف حشرتلا باب قﻼغإ خيرات نم عوبسأ لﻼخ ةنجللا رظنت
ىدمو ،ةمدقملا حشرتلا اهئافيتسا
.ةقباسلا حشرتلا طورﺸل
The Committee shall, within one week from the date of closing the nomination, consider the submitted applications for nominations and whether they meet the previous conditions for nomination.
يذلا رارقلا حضوي نيحشرتملا عيمج ىلإ ًاراطخإ ةنجللا لسرت
.بابسﻷاب رطخي نأ بجي حشرم يأ ضفر ةلاح يفو ،هيلإ تلصوت
The Committee shall send a notice to all Candidates indicating its decision. In the event that a Candidate is rejected, he shall be informed of the reasons.
لاسرإ متي نايبتسا
ةصاخلا ةيتاذلا ةريسلاو ةمئﻼملا ريياعم
نيذلا نيحشرملاب تقبطنا
دقنلا ةسسؤم ىلإ طورﺸلا هذه مهيلع
.ةسسؤملا ةعنامم مدع ىلع لوصحلل
The eligibility criteria and CV questionnaire for Candidates who met these conditions shall be sent to SAMA for its NOC.
) جذومن لاسرإ متي ،ةسسؤملا ةعنامم مدع ىلع لوصحلا دعب ٣
ىلإ (
.ةيلاملا قوسلا ةئيه
After obtaining SAMA's NOC, Form 3 shall be sent to CMA.
ةرادﻹا سلجم ىلإ ةيصوت تآفاكملاو تاحيشرتلا ةنجل مدقت اب
رايتخ
حيضوت عم نيحشرملا دحأ .ةيصوتلا ىلإ تدأ يتلا بابسﻷا
The Nomination and Remuneration Committee shall make a recommendation to the Board of Directors to select one of the Candidate s, stating the reasons for the recommendation.
.هفلس ةرتفل ًﻼمكم ،رغاﺸلا زﻛرملا يف ًاوضع ةرادﻹا سلجم نييعي
The Board of Directors shall appoint a new member in the vacancy, to complete his predecessor's term.
لوأ يف ةماعلا ةيعمجلا ىلع نييعتلا ضرعي عامتجا
.اهل
The appointment shall be presented to the General Meeting, at the first meeting.
صاخشﻷا يلثممل ةبسنلاب ةيرابتعﻻا
:يلاتلاب لمعي ،هﻼعأ درو ام ىلإ ةفاضﻹاب:
For legal persons representatives:
In addition to the above, the following shall apply:
صخﺸلل رخآ لثمم حيشرت بلط متي يرابتعﻻا
.ةرادﻹا سلجم يف
Another representative of the legal person shall be requested to be nominated for the Board of Directors.
صخﺸلا حيشرت خيرات نم عوبسأ لﻼخ ةنجللا رظنت يرابتعﻻا
.ةيوضعلا طورﺸل هئافيتسإ ىدمو ،هلثممل
The Committee shall, within one week from the date of nomination of a representative by the legal person, consider the submitted request and whether it meets the conditions of membership.
يذلا رارقلا حضوي يرابتعﻹا صخﺸلا ىلإ ًاراطخإ ةنجللا لسرت
يلإ تلصوت .رخآ حشرم ميدقت بلط متي ضفرلا ةلاح يفو ،ه
The Committee shall send a notice to the legal person indicating its decision, and in the case of rejection, an application for another Candidate shall be filed.
٨ . :ﺔيوضعلا روغش
8- Membership Vacancy:
نيعي نأ سلجملل ناﻛ ،ةرادﻹا سلجم يف وضع بصنم روغش لاح يف - ًاتقؤم - و ةيفاكلا ةربخلا مهيف رفاوتي نمم رغاﺸلا بصنملا يف ًاوضع نود و يدوعسلا يبرعلا دقنلا ةسسؤم ةقفاوم ىلع لوصحلا دعب كلذ مت يتلا ةماعلا ةيعمجلا يف تاوصﻷا ىلع لوصحلا يف بيترتلل رظنلا ا سلجم باختنا و ةراجتلا ةرازو غلبت نأ بجي و ،اهلﻼخ نم ةرادﻹ
) ةسمخ لﻼخ ةيلاملا قوسلا ةئيه ًاضيأ و كلذب رامثتسﻹا ٥
لمع مايأ (
ةيداعلا ةماعلا ةيعمجلا ىلع نييعتلا اذه ضرعي نأ و نييعتلا خيرات نم .طقف هفلس ةدم ديدجلا وضعلا لمكي و ،اهل عامتجا لوأ يف In the event that the position of a Board Member becomes
vacant, the Board may, after obtaining the approval of SAMA, appoint, on a temporary basis, without considering the most voted persons in the General Meeting during which the board of directors were elected, a member having proper experience in such vacancy. The Ministry of Commerce and Investment and CMA shall be so informed within five (5) working days from the date of appointment. This appointment shall be presented to the
8
AGM, at the first meeting. The new member shall complete his predecessor's term...
داقعنﻺل ةيداعلا ةماعلا ةيعمجلا ةوعد ةصتخملا ةهجلا نم رارقب زوجي و .هداقعنا ةحصل ىندﻷا دحلا نع ةرادﻹا سلجم ءاضعأ ددع صقن لاح يف
The AGM may be called to be convened by a resolution by the competent authority in the event that the number of the Board members becomes less than the minimum number for the validity of the AGM.
ءاهنإ وأ سلجملا يف وضع يأ ةلاقتسا دنع ةسسؤملا غﻼبإ بجي و ) لﻼخ كلذ و سلجملا ةرود ءاهتنا ادع ببس يﻷ هتيوضع ٥
مايأ (
لمع .ةقﻼعلا تاذ حاصفﻹا تابلطتم ةاعارم و لمعلا كرت خيرات نم Upon the resignation or termination of membership of
any Board member, whatever the reason, other than the expiration of the Board term, SAMA shall within five (5) working days from the date of leaving the position, be informed, considering the relevant disclosure requirements.
٩ . ﺔﻣاع ماكحأ
9- Miscellaneous
ةيوضعل رثﻛأ وأ رخآ صخش وأ هسفن حيشرت مهاسم لكل قحي
لاملا سأر يف هتيكلم ةبسن دودح يف كلذو ،ةرادﻹا سلجم
Each shareholder shall have the right to nominate . himself or one or more persons for Board membership within the limits of the shares held by the shareholder in the capital.
:تاﻣولعملا ﺔحص نع يرحتلا و حاصفإ ةﻛرﺸلا قتاع ىلع عقت
بصانملل نيحشرملا و ةسسؤمل حاصفﻹا نع ةيسيئرلا ةيلوئسملا
حيرص و لماﻛ لكﺸب ةيلاملا قوسلا ةئيه و يدوعسلا يبرعلا دقنلا صاخشﻷا ةمءﻼم تابلطتمب ةقﻼعلا تاذ تامولعملا عيمج نع
Disclosure and Verification of Information: the Company and the Candidates for senior positions shall fully and clearly take the liability for disclosure to SAMA and CMA of all information related to the persons eligibility requirements.
تآفاكملا و تاحيشرتلا ةنجل و ةرادﻹا سلجم قتاع ىلع عقت و امﻛ سلجملا ةيوضعل نيحشرملا صاخشﻷا ةمءﻼم نم دﻛأتلا ةيلوؤسم و ايلعلا ةرادﻹا
The Board of Directors and the Nomination and
Remuneration Committee are responsible for ensuring that Candidates are eligible for Board membership and senior management
نم ةمدقملا تامولعملا ةقد و ةحص نم ققحتلا ةﻛرﺸلا ىلع كلذب نم نيحشرملا ةمظنﻷا اهل تحمس ام ىتم ةلقتسم رداصم
يتلا تامولعملا ةيرس ىلع ةظفاحملا ةرورض عم ،ةيعرملا .اهب موقت يتلا ةمءﻼملا مييقت تايلمع جئاتن و ةﻛرﺸلا اهيلع لصحت
The Company shall verify the validity and accuracy of the information provided by the Candidates from independent sources as permitted by the applicable regulations, maintaining the confidentiality of the information obtained by the Company and the results of its eligibility assessments.
وأ ةرشابم ةحلصم ةيأ ةرادﻹا سلجم وضعل نوكي نأ زوجي ﻻ
ﻷا يف ةرشابم ريغ ﻻإ ةﻛرﺸلا باسحل متت يتلا دوقعلاو لامع
نم ىنثتسيو ةنس لﻛ ددجي ةيداعلا ةماعلا ةيعمجلا نم صيخرتب وضع ناﻛ اذإ ةماعلا تاصقانملا قيرطب متت يتلا لامعﻷا كلذ .لضفﻷا ضرعلا بحاص ةرادﻹا سلجم
The Board member may have a direct or indirect interest in the business and contracts made to the benefit of the Company's only by a permission by the AGM to be annually renewed, except the business awarded through public tenders and the Board member has been the best tenderer.
يف كارتشﻹا ةرادﻹا سلجم ءاضعﻷ زوجي ﻻ ىلع تيوصتلا
نع ةيلوئسملا نم مهتمذ ءاربإب قلعتت يتلا ةيعمجلا تارارق .مهترادإ
The Board Members may not participate in voting on the General Meeting's resolutions on releasing them from responsibility for their management.
سلجم ءاضعأ روضح لدبو تآفاكم نوكت ًاقفو ةرادﻹا
ةسايسل
ةنجل لبق نم اهدادعإ متي يتلا و ةﻛرﺸلاب ةصاخلا تآفاكملا اهدامتعا مث نم و ةرادﻹا سلجمل اهعفر و تآفاكملا و تاحيشرتلا .ةماعلا ةيعمجلا لبق نم
The Board Members remuneration and attendance allowance shall be in accordance with the Company's Remuneration Policy prepared by the Nomination and Remuneration Committee and submitted to the Board of Directors and approved by the General Meeting.
