Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 34

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 34
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 ? They have an indefi nite term. ? They do not establish any prior notice period, tenure or loyalty clauses. ? They include a post-contractual non-compete clause. ? They do not include commitments to make severance payments. ? They include a welfare component, according to the individual circumstances of each executive director, including appropriate insurance and pension systems. ? They consist of defi ned-contribution systems whereby the annual pension contributions made to cover the contingency of retirement are established in advance (15% of the Annual Fixed Remuneration). ? They do not provide for the possibility of receiving the retirement pension in advance. This English version is a translation of the original in Spanish for information purposes only. In case of discrepancy the original in Spanish shall prevail.

Annual Report on the Remuneration of BBVA Directors 29 Commitments undertaken with the Chair Contingency of retirement • The Chair is entitled to a retirement pension upon reaching the retirement age established by law. The amount of this pension will be equal to the sum of the contributions made by the Bank and their corresponding yields up to that date. If the contractual relationship is terminated before he reaches retirement age for reasons other than serious dereliction of duties, he will remain entitled to the benefi t, which will be calculated on the basis of all contributions made by the Bank up to that date plus the corresponding cumulative yield, without the Bank being required to make any additional contributions as of that date. • The annual agreed contribution amounts to €439 thousand (15% of his Annual Fixed Remuneration). • Meanwhile, for the purposes of Bank of Spain Circular 2/2016, 15% of the annual contribution will be considered “discretionary pension benefi ts” and therefore will be based on variable components, being subject to the relevant provisions set out for these instruments in that Circular. More precisely, the fi nal amount of the “discretionary pension benefi ts” will be determined by reference to the result of the Short-Term Incentive accrued by the Chair in each fi nancial year and will form part of the total amount of variable remuneration for the purposes of the maximum limit between fi xed and variable remuneration. In addition, the accrued amount of “discretionary pension benefi ts” will be subject to a fi ve-year retention period from the time the Chair ceases to render services to the Bank for any reason, it will be paid entirely in BBVA shares and may be subject to reduction or recoupment by