Benefits for supervisors and managers

Principles of remuneration of the Bank’s Management Board members

According to principles of remuneration of the Bank’s Management Board members which came into force on 7 November 2012 and take into consideration provisions of the Resolution No. 258/2011 of PFSA, members of the Management Board are entitled to:

• monthly remuneration at an amount determined by the Bank’s Supervisory Board,
• benefits payable to employees of the Bank (excluding benefits payable to employees under Works Collective Agreements – Zakładowe Układy Zbiorowe Pracy - ZUZP):
  • under the common binding laws,
  • under the Bank’s internal regulations, with standardised or exceptional character, for which the grant basis is not an evaluation of the Member of the Bank’s Management Board work effects or the result of the area supervised by him or by the Bank,
• variable salary components for the results of work, especially bonuses, awards for special achievements in work, severance payment related to termination of employment no higher than triple base remuneration, which detailed granting and payment rules are defined by the regulations adopted by the resolution of the Bank’s Supervisory Board,
• insurance financed by the Bank, in particular in respect of death and serious illness, permanent disability, permanent or prolonged impairment of health, inability to work (the detailed scope of the insurance will arise from the insurer’s offer and from the terms negotiated by the Bank); the principles of the insurance and its terms and conditions shall not violate the remuneration principles set out in the ‘Rules and regulations for variable remuneration components of the Management Board Members’.

Principles of the remuneration of Supervisory Board members

Ordinary General Shareholders’ Meeting of PKO Bank Polski SA by the Resolution No. 36/2010 of 25 June 2010 established the monthly salary for members of the Supervisory Board of:

• Chairman of the Supervisory Board – PLN 16 000,
• Deputy-Chairman of the Supervisory Board – PLN 14 000, 
• Secretary of the Supervisory Board – PLN 12 000,
• Member of the Supervisory Board – PLN 10 000.

Supervisory Board members are entitled to remuneration regardless of the frequency of meetings convened.

Regardless of the remuneration, the Members of the Supervisory Board are entitled to reimbursement of the costs incurred in connection with performing the function, and in particular travel costs from the place of residence to the location of the Supervisory Board's meeting and back, costs of accommodation and board.

Remuneration received by managers and supervisors (in PLN thousand)

Full information regarding the remuneration and other benefits on behalf of the members of the Management Board of PKO Bank Polski SA and the Supervisory Board in the reporting period has been presented in the Financial Statements of PKO Bank Polski SA for the year ended 31 December 2013.