According to the Finnish Companies Act, the Annual General Meeting of Shareholders decides on the fees payable to the members of the company’s Board of Directors.
The Company’s Annual General Meeting held on 31 March 2023 resolved that the Chairman of the Board will be paid a fee of EUR 3,500 per month, Deputy Chairman of the Board a fee of EUR 2,700 per month and other Members of the Board each a fee of EUR 1,900 per month.
Furthermore, the Meeting resolved that the Chairman of the committees founded by the Board of Directors will be paid EUR 600 per meeting of the committees and other members of the committees will be paid EUR 300 per meeting. No remuneration is paid for the Board work to persons who are in an employment or service relationship with the company. Travel expenses will be reimbursed in accordance the maximum amount of the respective travel allowance base approved by the Tax Administration.
The Board of Directors decides on the remuneration and its terms of the Managing Director and the members of the management team. The remuneration of the management team and the Managing Director consists of a monthly salary, customary fringe benefits and incentives as in force from time to time.
The pension benefits of the Company’s Managing Director and the other members of the management team are determined in accordance with law and customary practice. The Company has no active supplementary pension or insurance plans provided for the Managing Director nor for the other members of the management team.