The Board of TIM S.A. with its registered seat in Siechnice informs that on 08.01.2015 the Company received a copy of a signed Framework Agreement with a trade partner concluded by and between TIM S.A. and Eaton Electric Sp. z o.o. with its registered seat in Gdańsk, as of 02.01.2014. The Subject of the Cooperation Agreement is setting general rules of cooperation within the scope of sale by Eaton Electric Sp. z o.o. to TIM S.A. electrotechnical materials
The above-mentioned Agreement is a framework agreement which means that every time the basis for its execution is orders for goods placed by TIM S.A., specifying, among others: goods, quantity, and the delivery time.
The Framework Agreement shall be concluded for a specified period: 3 years since its conclusion.
The value of the above-mentioned Agreement shall be estimated as exceeding 10% of equity capital of TIM S.A. The provisions of the above-mentioned Agreement do not diverge from the market standards of this type of contracts. The Agreement does not include the condition or a term of suspension; does not provide for contractual penalties which maximum value could exceed 10% of its value and it was concluded on the basis of terms and conditions commonly applied in this type of contracts.
The above-mentioned Agreement fulfils the criterion of a reference contract due to the fact that its estimated value exceeds 10% of equity capital of TIM S.A.