Protocol Petrom – FSLI Petrom Trade Union
Petrom will distribute 100 free stocks to each individual that has been employed with Petrom SA between 14.12.2004 and the date when the stocks distribution process starts. For the moment the exact number of the persons entitled to receive the 100 free stocks is not known but it will be calculated in the near future.
The distribution mechanism as well as the start date for the distribution process will be decided following the date when the GSM’s approval will be obtained.
In order to start the implementation of this protocol, the GSM must approve in the next meeting the proposal for buying these stocks from the capital market. Petrom intends to acquire these stocks from the capital market.
This provision was included in the collective labor agreement before the privatization; the respective article suffered several small amendments over the time. Presently, art. 168, paragraph 5 has the following wording: „In case of privatization (regardless the privatization form), the employees which are part of the present agreement will benefit of free stocks – the number of which will be negotiated between FSLI Petrom and Petrom SA – and other advantages regarding the direct participation into the privatization.”