The Board of Directors of MWIKA recognizes the voluntary nature of board service and is committed to maintaining transparency and accountability in matters related to remuneration.
This policy outlines the principles and guidelines governing remuneration for board members.
a. No Direct Compensation: Board members of MWIKA shall not receive any direct financial compensation, stipends, or salaries for their service on the board.
b. Voluntary Service: Board members are considered volunteers and contribute their time and expertise to further the mission and objectives of MWIKA.
2. Reimbursement for Expenses:
a. Expense Reimbursement: Board members may be reimbursed for reasonable and necessary expenses incurred in the course of their duties, subject to approval.
3. Transparency and Accountability:
a. Documentation: All remuneration-related decisions, including expense reimbursements, will be documented and subject to periodic review.
b. Open Communication: We commit to open communication about our remuneration practices with stakeholders, maintaining transparency about how resources are allocated.
4. Review and Amendment:
a. Regular Review: This policy shall be reviewed regularly by the Board to ensure its effectiveness and compliance with legal and ethical standards.
b. Amendment: The Board reserves the right to amend this policy as needed, with any changes documented in the meeting minutes.
Effective Date: November 2020