Remuneration of the members of the Group’s bodies

Employment contracts concluded with the Members of the Management Board, approved by resolution of the Supervisory Board, do not include compensation for resignation or dismissal from their positions without a valid reason, or if the dismissal results from a business combination through an acquisition of the issuer.

Separate non-competition agreements regulate among others refraining from post-employment competition with PZU in exchange for damages. In 2014–2015, 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.

Compensation and other short-therm employee benefits paid by PZU (PLN 000)1 January – 31 December 20151 January – 31 December 2014
including bonuses and special prizes:including bonuses and special prizes:
Management Board, including: 8,124 2,862 8,226 2,812
Andrzej Klesyk 2,970 1,170 2,714 914
Przemysław Dąbrowski 1,112 371 1,054 313
Dariusz Krzewina 1,281 507 1,314 534
Tomasz Tarkowski 995 332 891 228
Ryszard Trepczyński1 1,1942 482 1,165 424
Rafał Grodzicki3 312 - - -
Witold Jaworski4 260 - - -
Barbara Smalska5 - - 1,088 399
Contracts concluded with high level managers – High level management (Directors of PZU Group), including: 3,799 1,530 3,717 1,193
Rafał Grodzicki3 624 312 936 312
Przemysław Henschke 936 312 936 312
Sławomir Niemierka 963 300 860 199
Tobiasz Bury 1,276 606 985 3706
Supervisory Board, including: 1,224 - 1,221 -
Zbigniew Ćwiąkalski 180 - 168 -
Paweł Kaczmarek 84 - - -
Dariusz Filar 132 - 120 -
Aleksandra Magaczewska 156 97 -
Tomasz Zganiacz 72 - 144 -
Zbigniew Derdziuk 120 - 120 -
Dariusz Kacprzyk 120 - 64 -
Jakub Karnowski 120 - 64 -
Alojzy Nowak 120 - 120 -
Maciej Piotrowski 120 - 120 -
Waldemar Maj - - 90 -
Dariusz Daniluk - - 57 -
Włodzimierz Kiciński - - 57 -
  1. Ryszard Trepczyński has not been appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  2. The indicated amounts include remuneration for non-competition PLN 185 thousand (PZU) and PLN 100 thousand (PZU Życie) and the remuneration for the notice period.
  3. Rafał Grodzicki was dismissed from the position of Director of the PZU Group on 30 June 2015 and appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  4. Witold Jaworski was appointed to the Management Board of PZU on 1 September 2015.
  5. Barbara Smalska submitted a statement of resignation on 6 October 2014 into effect on 31 December 2014, in 2015 she received the remuneration for the notice period and for the non-competition in the amount of PLN 974 thousand (PZU) and PLN 525 thousand (PZU Życie) and PLN 71 thousand for non-cash benefits.
  6. WThe indicated amount is the premium for 2013 years for performing other functions in PZU and PZU Życie.  
remuneration_1_pzu2015.xlsx

Total estimated valued of benefits in kind allocated by PZU and its subsidiaries (PLN thousands)1 January – 31 December 20151 January – 31 December 2014
including bonuses and special prizes:including bonuses and special prizes:
Management Board, including: 3,310 1,279 2,942 996
Przemysław Dąbrowski 799 400 599 200
Dariusz Krzewina 690 273 553 133
Tomasz Tarkowski 536 179 536 179
Ryszard Trepczyński1 6432 259 658 259
Rafał Grodzicki3 504 168 - -
Witold Jaworski4 138 - - -
Barbara Smalska5 - - 596 225
Contracts concluded with high level managers – High level management (Directors of PZU Group), including: 1,546 492 1,844 478
Rafał Grodzicki3 - - 455 119
Przemysław Henschke 504 168 455 119
Sławomir Niemierka 464 107 427 70
Tobiasz Bury 578 217 507 1706
  1. Ryszard Trepczyński has not been appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  2. The indicated amounts include remuneration for non-competition PLN 185 thousand (PZU) and PLN 100 thousand (PZU Życie) and the remuneration for the notice period.
  3. Rafał Grodzicki was dismissed from the position of Director of the PZU Group on 30 June 2015 and appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  4. Witold Jaworski was appointed to the Management Board of PZU on 1 September 2015.
  5. Barbara Smalska submitted a statement of resignation on 6 October 2014 into effect on 31 December 2014, in 2015 she received the remuneration for the notice period and for the non-competition in the amount of PLN 974 thousand (PZU) and PLN 525 thousand (PZU Życie) and PLN 71 thousand for non-cash benefits.
  6. WThe indicated amount is the premium for 2013 years for performing other functions in PZU and PZU Życie.  
remuneration_2_pzu2015.xlsx

Total estimated valued of benefits in kind allocated by PZU and its subsidiaries (PLN thousands)1 January – 31 December 20151 January – 31 December 2014
Management Board, including: 1,224 1,307
Andrzej Klesyk 298 282
Przemysław Dąbrowski 191 186
Dariusz Krzewina 209 217
Tomasz Tarkowski 178 191
Ryszard Trepczyński1 179 226
Rafał Grodzicki3 129 -
Witold Jaworski4 40 -
Barbara Smalska5 - 205
Contracts concluded with high level managers – High level management (Directors of PZU Group), including: 600 908
Rafał Grodzicki3 44 170
Przemysław Henschke 167 203
Sławomir Niemierka 176 358
Tobiasz Bury 213 177
Supervisory Board, including: 11 -
Zbigniew Ćwiąkalski 10 -
Jakub Karnowski 1 -
remuneration_3_pzu2015.xlsx

  1. Ryszard Trepczyński has not been appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  2. The indicated amounts include remuneration for non-competition PLN 185 thousand (PZU) and PLN 100 thousand (PZU Życie) and the remuneration for the notice period.
  3. Rafał Grodzicki was dismissed from the position of Director of the PZU Group on 30 June 2015 and appointed to the Management Board of PZU new term of office, which run began on 1 July 2015.
  4. Witold Jaworski was appointed to the Management Board of PZU on 1 September 2015.
  5. Barbara Smalska submitted a statement of resignation on 6 October 2014 into effect on 31 December 2014, in 2015 she received the remuneration for the notice period and for the non-competition in the amount of PLN 974 thousand (PZU) and PLN 525 thousand (PZU Życie) and PLN 71 thousand for non-cash benefits.
  6. WThe indicated amount is the premium for 2013 years for performing other functions in PZU and PZU Życie.  

Rules of granting annual bonuses to the Members of the Management Board

The bonuses of the Management Board’s Members are dependent on their performance for the financial year. They are awarded by the Supervisory Board after the approval of the financial statements for the year.

The bonus amount depends on the performance of the business area supervised by the given Member of the Management Board; however, the areas that affect business results have much greater impact on remuneration than the support areas.

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