Integrated
Annual Report 2011

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Grupa LOTOS S.A. - Integrated Annual Report 2011
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Remuneration of the Supervisory Board

The remuneration policy for the Supervisory Board members was defined by the Extraordinary General Shareholders Meeting in 2000.

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Determination of the remuneration policy for members of the Supervisory Board rests within the scope of powers of the General Shareholders Meeting.

Remuneration of the Supervisory Board members is subject to limitations and conditions prescribed under the Act on Remunerating Persons Who Manage Certain Legal Entities of March 3rd 2000 (Journal of Laws of 2000 No 26, item 306, as amended). Acting in accordance with the Act, in 2000 the Extraordinary General Shareholders Meeting defined a remuneration policy for the Supervisory Board members, which provides as follows:

  • Board members receive monthly remuneration equal to the average monthly salary in the non-financial corporate sector net of bonuses paid from profit in the fourth quarter of the preceding year, as announced by the President of the GUS (Central Statistics Office),
  • the remuneration is payable irrespective of the frequency of Board meetings. This, however, does not apply if in a given month a member of the Board is absent from all meetings held in that month without a valid reason,
  • if a Board member is appointed or removed from office during a calendar month, the remuneration amount is calculated according to the number of days in office,
  • the Company covers all costs and expenses incurred in the performance of duties by members of the Supervisory Board and, acting pursuant to the Act on Personal Income Tax, it assesses and withholds tax payments on their remuneration income.

In line with an amendment to the said Act, in 2011 the Supervisory Board members were entitled to receive remuneration in the amounts fixed in 2010.

Remuneration of the Supervisory Board members in 2011
  Amount (PLN)
Wiesław Skwarko 41,454.96
Rafał Wardziński 41,454.96
Oskar Pawłowski 41,454.96
Małgorzata Hirszel 41,454.96
Michał Rumiński 41,454.96
Leszek Starosta 41,454.96
Ewa Sibrecht-Ośka 38,921.58
Rafał Lorek 23,836.53