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124/2011 Social agreement for years 2012-2013 - Orange Polska

Pursuant to art. 56, clause 1, item 1 of the Law of 29 July 2005 on public offering and the conditions for introducing financial instruments to the organised trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539, with amendments), the Management Board of Telekomunikacja Polska S.A. (“TP S.A.” or “the Company”) informs that it has concluded an agreement and a settlement with TP S.A. trade unions.

TP S.A. has signed a Social Agreement with the trade unions for years 2012-2013, under which up to 2,300 employees may benefit from voluntary departures.   

October 24, 2011: TP S.A. Management Board signed a new Social Agreement with the trade unions for years 2012-2013, which will come in force from January 1, 2012. The Social Agreement concerns, amongst other, employment policy, including the role of internal mobility, recruitment and outsourcing, pay rises (not less than 4.5% in 2012 and 2013), and allowing employees unable to adjust their professional profile to changing market needs to leave the Company with compensation.

Between 2012 and 2013, up to 2,300 people will be entitled to take advantage of the voluntary departure package, providing that their seniority exceeds 6 years. Moreover, the TP S.A. Management Board signed a separate settlement with the trade unions, specifying that up to 1,150 employees may take advantage of the above mentioned package in 2012. The voluntary departure offer is addressed to employees covered by the Corporate Collective Labour Agreement for TP S.A.

The value of compensation package per departing employee will depend on their seniority in TP S.A. ranging from 4 to 15 times of monthly remuneration, and will additionally be enlarged by compensation of PLN 8 thousand in 2012 and PLN 6 thousand in 2013. Additional compensation of up to PLN 20 thousand (per employee) will be paid to employees with more than 20 years of seniority.

TP S.A. Management Board will conduct the appropriate analysis and the financial impact resulting from the above-mentioned agreement will be recorded in the accounts for the fourth quarter of 2011.

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