Current report no. 53/2013 of 23 October 2013 – Entering into substantial agreement

Management Board of Qumak S.A. informs that on 23 October 2013 there was concluded an Agreement with the Social Insurance Company (ZUS).


Subject of this Agreement is expansion of currently used by ZUS hardware infrastructure, through delivery and installation of hardware and software (including servers and disk arrays), necessary to migrate data bases of “Usługi Kancelaryjne” together with a warranty until 31.05.2016.


For performing the subject of the Agreement there was set a remuneration amounting to 8,377,407.00 PLN gross.
Deadline for realization of hardware delivery was set within 6 weeks, and performing installation and configuration of software within 2 months of the date of signing the agreement.


With regard to penalties the Agreement provides payment of contractual penalties, i.e.: for delay in realization of the subject of the Agreement amounting to 0.5% of gross contractual value for every day of delay that begins. In case when delay exceeds 5 calendar days, ordering party has the right to withdraw from the Agreement within 5 days, and then there will be calculated a contractual penalty amounting to 20% of gross contractual value. Penalties will be calculated independently. The agreement includes penalties for delays in reaction times to service requests amounting to a maximum value of 1000 PLN for every hour of delay that begins, similarly as in case of delays in performing a warranty overview. Ordering Party has the right to claim a supplementary compensation exceeding restricted contractual penalties to the value of an actual damage suffered.


Other conditions of the Agreement do not differ from market standards applied in contracts of such sort.


Contract meets criteria of substantial agreement due to the fact that its value exceeds 10% of Qumak S.A. equity.


Legal ground:

RMF GPW §5 section 1 point 3