Employment contracts concluded with the CEO and Management Board members, approved by a Supervisory Board resolution, do not include compensation for resignation or dismissal from their positions without a valid reason, or if the dismissal results from a business combination of the issuer through an acquisition.
Compensation and other short-term employee benefits paid by PZU (PLN 000)
|1 January - 31 December 2013||1 January - 31 December 2012|
|Of which bonuses and special awards||Of which bonuses|
|Management Board, including:||9,503||3,024||7,012||1,600|
|Contracts concluded with high level managers (PZU Group Directors), out of which:||3,263||1,122||2,283||337|
|Supervisory Board including:||1,224||-||1,126||-|
Separate non-competition agreements regulate among others refraining from post-employment competition with PZU in exchange for damages.
In 2012-2013, PZU Group companies included in consolidation did not grant any loans or similar benefits to members of their management boards, higher level managers or members of their supervisory boards.