Agreements concluded between the issuer and managing persons

Within the meaning of § 2 clause 1 item 30a of the Decree of the Minister of Finance of 19 February 2009 on current and periodical information submitted by issuers of securities and the conditions of considering as equivalent the information required by law of a non-member country (Journal of Laws No. 33, item 259 with subsequent amendments), members of the Management Board are persons managing the Bank.

In 2014, two agreements were signed with each of the members of the Management Board of PKO Bank Polski SA, providing for compensation in the case of their resignation or dismissal:

  • an employment contract, providing for severance pay in the event of termination from reasons other than violation of the basic obligations arising from the employment relationship, in the amount of three monthly basic salaries,
  • a non-competition agreement, providing for damages for complying with the noncompetition requirement during 6 months after termination of the employment relation, amounting to 100% of the monthly basic salary received before termination of the employment relation, to be paid monthly in arrears during the non-competition period.