Grounds for the determination of a different amount of the fixed remuneration for the Members of the Management Board of ENERGA Kogeneracja Sp. z o.o.

The core business of the company is the generation of heat in hot water, process steam and electricity. The operating activities are carried out in: Elbląg, Kalisz, Żychlin and Wyszogród. Electricity generated at ENERGA Kogeneracja is fed into the power grid.

Upgrades are planned involving the replacement of coal by gas as the electricity and heat-generating fuel. This involves a comprehensive replacement of all the production facilities. The implementation of the project is scheduled for the years 2020 to 2024.

It is permitted to determine a different amount of the fixed element of the remuneration in special circumstances concerning the Company or the market in which it operates; in the case of ENERGA Kogeneracja Sp. z o.o., there arose the grounds set out in Article 4(3) for determining a different amount of the fixed element of the remuneration of the members of the company's management board; the circumstances concern the Company because there is a risk of loss of unique competencies, in particular if applicants from the local market are recruited, and the market levels and practices concerning remuneration significantly deviate from the proposed conditions.