The Company's employees participate in incentive plans based on Company's shares. The Company informed about the plans in
Initial Offering Circular, financial and current reports (i.a. current report
Publisher on December 18, 2000,
September 16, 2005 and
January 11, 2010).
As Company informed in the annual report published on April 12, 2010 "( ) Estimated total cost related to incentive plans to be charged to the Group's 2010 profit and loss account will be ca PLN 9.8 million. It should be noted, however, that this amount includes estimated cost of execution of incentive plan but the Company does not in fact know the number of certificates to be purchased by employees pursuant to the future plan, or the stock price of Agora's shares at that accounting period. Hence, for purposes of providing an estimate, the Company assumed that these values will be equivalent to those on which the fourth quarter 2009 calculations were based. The cost of incentive plans are reflected in the Group's P&L according to the accounting rules referred to in note 25 to the consolidated financial statements in this report. Pursuant to these rules, share-based compensation cost will be charged unevenly throughout the year. In the first half of 2010, the Group's P&L will be affected by about PLN 6.2 million of non-cash incentive compensation. The cost of new incentive plan of ca PLN 3.6 million will be reflected in the Group's P&L in the fourth quarter of 2010."
