Compensation
Board of Directors
Compensation is based on the decisions of the Annual General Meeting held on April 2010.
- The annual compensation of the Chairman is EUR 24 000 plus EUR 1 000 per meeting.
- The annual compensation of the other members is EUR 12 000 plus EUR 500 per meeting.
- 60% of the annual remuneration will be paid in cash and 40 % in company shares.
See remunerations paid to the members of the Board of Directors in:
2010
2009
2008
Members of the Board's Aspocomp shareholdings can be found in the company's public insider register.
President and CEO
Based on the Contract of Service, the monthly compensation of the President and CEO is EUR 15 000 as of June 22, 2009. Taxation value of fringe benefits is 945 euro/month. CEO does not have any bonus, stock option or special retirement arrangements.
If the contract is terminated either by the CEO or by the company, the notice period is 3 months. In addition, 4 months severance pay may be paid.
In 2009 salary, other remuneration, fringe benefits and bonuses paid to the President & CEO amounted to EUR 100 3010, of which EUR 0 were other remuneration. The President and CEO has not not been granted stocks or stock based rights in 2009.
CEO's Aspocomp shareholding can be found in the company's public insider register.
Management
Salaries, bonuses and other benefits of CEO's direct subordinates are approved and confirmed by the Board of Diretors.
Auditors
The fees paid to the accounting firm for the actual audit totalled EUR 80 000 in 2009. In addition, EUR 28 000 was paid for other services for the Group companies.
Incentive System for Management
The incentive system for the management are decided by the Board. For stock and stock option based plans a decision of the Annual General Meeting is also required.
Stock options 2008
The Annual General Meeting 2008 authorized the Board of Directors to issue stock options to the present or future CEO. The maximum total number of stock options to be issued is 5 520 000.
The said stock options has not been granted.
Stock options 2006
All year 2006 stock options previously granted have been returned to the company. The program will be cancelled in the next AGM. |
