Article 200. Dismissal of the Administrator

(1) The administrator may be dismissed by resolution of the competent body of the legal person in accordance with the grounds provided by law or contract, as well as without providing a reason, and without a notice period.
(2) If there is an employment relationship between the administrator and the legal person, the dismissal under paragraph (1) results in the termination of the individual employment contract on the same date. The provisions of labor legislation cannot be invoked to challenge the resolution to dismiss the administrator.
(3) If the dismissal of the administrator, based on grounds provided by law or contract, does not fall within those grounds, the administrator may request the court to declare that they were dismissed without a stated reason but cannot challenge the dismissal resolution on this basis.
(4) The provisions of paragraphs (1)–(3) do not affect the administrator’s right to a severance payment as provided by law. The contract may stipulate a higher severance payment and additional cases in which it is paid.
(5) At the request of the legal person, its member, or the insolvency administrator/liquidator, the court may reduce the severance payment amount specified in the contract if it determines that it is clearly disproportionate, taking into account all relevant circumstances, particularly:
a) the circumstances existing at the time the severance clause was stipulated, especially the specific qualifications required by law or a regulatory/supervisory authority from the administrator and the specifics of the legal person’s field of activity;
b) the administrator’s performance during their legal relationship with the legal person and the financial incentives granted to them;
c) the value of the legal person’s assets.
(6) A severance payment exceeding the fixed component of the administrator’s remuneration for two years is presumed to be clearly disproportionate.
(7) No severance payment is due to the administrator if they are dismissed for failing to meet the performance indicators stipulated in the contract with the legal person. Any contrary clause is deemed absolutely null and void.
(8) The legal person may request the return of the variable component of the remuneration paid to the administrator to the extent that it was based on financial statements later found to contain errors.