Remuneration of Group Management Team

Corporate Governance

Remuneration of Group Management Team Members

In addition to their fixed monthly salaries the other members of the Group Management Team may receive annual bonus, the amount of which is determined by the board based on the extent to which the annual result targets have been reached. The maximum annual bonus corresponds 40 % of the Group Management Team member’s base annual salary.

On 28 August 2018, the Board of Directors of the Company resolved on discretionary cash rewards payable to the President and CEO and other members of the Management Team as well as other key persons of the Company, the payment of which is conditional upon the completion of the Tender Offer and a person entitled to the reward not resigning before the reward payment on or about 30 April 2019. The payment of the discretionary cash reward aims to (i) compensate for the additional work related to the Tender Offer and (ii) enhance retention in a situation where key persons may be at a risk to leave the Company. The maximum amount of the discretionary cash rewards is EUR 565,000 in the aggregate.

The company’s share-based incentive schemes have been discontinued in connection with the completion of the public tender offer for Technopolis Plc shares, and the fees paid for them will be paid by the end of May 2019.

The pension and retirement age for the members of the Group Management Team are determined in accordance with the applicable legislation in force regarding pension. The members of the Group Management Team do not have any individual pension arrangements.


Last updated 28.2.2019