INVEST IN TALEX


Current report No. 15/2018

Subject: Conclusion of the agreement with PKO BP S.A.

Legal basis: Art. 17 (1) of the proposed MAR – confidential information


The contents of the report:

The Management Board of TALEX S.A. hereby informs that today the Company became aware of the conclusion of the agreement of 2 July 2018 with Powszechna Kasa Oszczędności Bank Polski S.A. with its registered office in Warsaw (Bank). The agreement was concluded for a definite period of time, until 30 June 2021. The subject of the agreement is the provision of technical and maintenance services for IT hardware and software used in organizational units of the Bank, Bank Agencies, and selected units of the Bank's Capital Group in Poland. The total estimated gross value of services provided under the agreement within 3 years (the value of the agreement) amounts to PLN 25.9 million. The total actual value of the contract depends on the number of services ordered on the basis of the agreement.

The agreement provides for the following contractual penalties:

- in the amount of 20% of monthly remuneration if more than 10% of all services ordered by the Bank in a given month were not provided within the assumed time limit,

- in the amount of PLN 15,000 for each day of delay caused by the Company in relation to the agreed between the Parties period of takeover of customer service units,

- in the amount of PLN 10,000 for each day of delay caused by the Company in relation to the date agreed between the Parties of developing the interface between IT systems of the Parties to the Agreement,

- in the amount of PLN 100,000 in the event of expiration and non-renewal of the insurance contract, which the Company is required to have under the agreement,

- in the amount of PLN 15,000 for each event consisting in not informing the Bank immediately about circumstances which could have a negative impact on the performance of the Agreement,

- in the amount of PLN 10,000 for each event consisting in not informing the Bank immediately about the occurrence of a security incident (defined in the Agreement).

Payment of contractual penalties shall not exclude the possibility for the purchaser to assert claims for damages in excess of such penalties.