Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 36

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 36
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 not undertaken any retirement commitments in favor of the Chief Executive Officer, although his contract gives him the right to receive an annual sum in cash instead of a retirement benefit (“cash in lieu of pension”) in an amount equal to 30% of his Annual Fixed Remuneration. 2.2.3. Other terms and conditions of the executive directors’ contracts Complementary allowance to the Chief Executive Officer’s fixed remuneration In view of his status as an international senior executive, the Chief Executive Officer’s contract provides that he is entitled to an annual cash sum as a mobility allowance, in line with the commitments that may be made in favor of expatriate members of Senior Management. This allowance amounts to €600 thousand per year. Post-contractual non-compete arrangements The executive directors’ contracts also include a post-contractual non-compete arrangement, effective for a two-year period after they cease to serve as BBVA executive directors, provided that they do not leave due to retirement, disability or serious dereliction of their duties. As consideration, executive directors will receive compensation from the Bank in an amount equivalent to one time their Annual Fixed Remuneration for each year of the duration of the arrangement, which will be payable monthly. Termination of the contractual relationship The contracts of executive directors do not include the right to a severance payment in the event of termination of their contractual relationship. Contingencies of death and disability • In the event of death while in offi ce, his widow will be entitled to an annual widow’s pension and each of his children will be entitled to an annual orphan’s pension until they reach the age of 25, for an amount equivalent to 50% and 20% (30% in the event of total orphaning), respectively, of the Annual Fixed Remuneration of the previous 12 months, with the Bank assuming the corresponding annual insurance premiums to guarantee the benefi t coverage. The cumulative benefi ts of the widow’s and orphan’s pension may not exceed 100% of the Annual Fixed Remuneration for the previous 12 months. • In the event of total or absolute permanent disability while in offi ce, he will be entitled to receive an annual pension in an amount equal to 62% of his Annual Fixed Remuneration for the previous 12 months. This pension will revert to his spouse and children in the event of death in the percentages cited above but shall be limited in all cases to 100% of the disability pension, with the Bank assuming the amount of the