REMUNERATION POLICY

Remuneration for Board and Policy-Making Duties

Members of the Board do not receive a salary, hourly fee, management fee or other remuneration for their activities performed in their capacity as Board members or policy-makers of the Foundation.

Board duties include, among other things:

• determining the strategy and policies of the Foundation;
• approving programmes, budgets and annual plans;
• attending and preparing Board meetings;
• making governance and organisational decisions;
• supervising the financial position and activities of the Foundation;
• approving annual accounts and reports;
• monitoring compliance with the Foundation's objectives and applicable governance requirements.

For these activities, Board members are entitled only to:

• reimbursement of actual expenses reasonably incurred on behalf of the Foundation; and
• a non-excessive attendance fee (vacatiegeld) for the preparation and attendance of Board meetings and comparable formal meetings.

This is consistent with the ANBI remuneration requirement applicable to members of the body that determines the policy of an ANBI. Such persons may, in that capacity, receive no remuneration other than reimbursement of expenses and non-excessive attendance fees.

Reimbursement of Expenses

Board members may be reimbursed for actual and reasonable costs incurred directly in connection with the activities of the Foundation.

Such expenses may include, for example:

• travel expenses;
• transportation and parking costs;
• accommodation where reasonably necessary;
• printing and production expenses;
• postage;
• materials purchased on behalf of the Foundation; and
• other directly attributable and demonstrable expenses.

Where reasonably possible, expenses must be supported by receipts, invoices or other documentation and recorded separately in the Foundation's administration.

Expense reimbursements are not intended to provide financial benefit to Board members and are limited to costs actually incurred.

Attendance Fees

Board members may receive a reasonable and non-excessive attendance fee in relation to the preparation for and attendance at Board meetings or similar formal meetings.

The level of such attendance fees will at all times remain within the limits considered non-excessive under the applicable Dutch ANBI rules and guidance.

Attendance fees are expressly not intended as remuneration for the broader management or operation of the Foundation and may not be used as a substitute for a salary.

Separate Executive and Professional Activities

Members of the Board may also possess professional expertise that is required for the actual implementation of the Foundation's cultural programme.

In addition to their unpaid governance responsibilities, a Board member may therefore perform separate executive, artistic, production-related or professional activities for the Foundation.

Examples include:

• producing photography or film shoots;
• creative direction;
• art direction;
• production management;
• project management relating to a specific production;
• photography or cinematographic production;
• editing and post-production;
• exhibition or installation production;
• graphic, digital or spatial design;
• technical production;
• editorial production; and
• other specialist services that could alternatively be commissioned from an external professional.

These activities are fundamentally different from determining the policies of the Foundation. They concern the actual execution and production of the Foundation's activities and projects.

Where a Board member performs such separate professional work, the Foundation may provide reasonable remuneration for those specific services, provided that the remuneration relates exclusively to the executive or professional work performed and not to governance or policy-making activities.

Market-Conform Remuneration

Remuneration for separate executive or professional work must be reasonable and proportionate to:

• the nature and complexity of the work;
• the professional expertise required;
• the number of hours reasonably necessary;
• customary rates for comparable work within the cultural and creative sector;
• the financial capacity of the Foundation; and
• any statutory, subsidy-related or other remuneration limits applicable to the Foundation or the relevant project.

The Foundation does not apply remuneration in excess of what would reasonably be paid to an unrelated professional for comparable services.

Where an applicable law, subsidy condition, funding scheme, collective agreement or other binding framework imposes a maximum remuneration, the Foundation will comply with that maximum.

Strict Separation of Roles

To safeguard the distinction between governance and paid executive activities, the Foundation applies the following principles:

• Board and policy-making activities are not invoiced at an hourly or commercial rate.
• Paid executive assignments are separately identifiable from Board responsibilities.
• The nature, scope and remuneration of paid professional work are agreed in advance.
• Where appropriate, hours worked are documented through time records, project administration, invoices or comparable documentation.
• The same hours or activities may never simultaneously qualify for an attendance fee and professional remuneration.
• Payments are recorded transparently in the financial administration of the Foundation.
• A Board member does not determine or approve their own remuneration.
• A Board member has no vote in a decision concerning an agreement, assignment, remuneration or other financial interest relating directly to that Board member.
• Such decisions are made by Board members or other competent persons who do not have a personal financial interest in the transaction.
• Any potential conflict of interest is disclosed and documented.

The Foundation aims to structure such arrangements in accordance with the principles of independence, transparency and avoidance of conflicts of interest contained in Dutch ANBI regulations and the Governance Code for Culture.

Independent Review and Conflicts of Interest

Where a Board member is commissioned to perform substantial paid executive work, particular care is taken to ensure that the Board member cannot unilaterally determine the scope, conditions or remuneration of their own assignment.

The remuneration and conditions of such an assignment must therefore be determined and approved independently of the Board member concerned.

Where appropriate in view of the size and development of the Foundation, the Foundation may establish or involve an independent supervisory or advisory body to provide additional oversight over related-party transactions, remuneration and governance.

The purpose of this arrangement is to prevent any individual from using their governance position to obtain an inappropriate personal financial benefit from the Foundation.

Employees and Other Professionals

Employees, freelancers, artists, makers, production professionals and other individuals who are not remunerated for policy-making activities may receive normal and market-conform remuneration for work performed for the Foundation.

NULL SPACE World recognises professional creative work as work and aims, within its financial capacity, to compensate makers and professionals appropriately and in accordance with applicable Dutch legislation and relevant principles within the cultural sector.

Administration and Transparency

The Foundation maintains an administration from which it can be determined separately:

• which expense reimbursements have been paid to Board members;
• which attendance fees have been paid;
• which other payments have been made to Board members;
• the nature and basis of any separately remunerated professional activities;
• the hours or services to which such remuneration relates; and
• the decision-making process underlying such remuneration.

The remuneration policy is made publicly available as part of the Foundation's ANBI transparency obligations.

In this way, NULL SPACE World seeks to ensure that there is a clear and verifiable distinction between unpaid governance in the public interest and professionally remunerated execution of the Foundation's cultural activities.