Investors / Governance / Remuneration

Remuneration

Board of Directors

Aspocomp’s Annual General Meeting decides on the remuneration of the Board members for one term of office at the time. Aspocomp’s Annual General Meeting decides on the remuneration of the Board members for one term of office at the time

Compensation in 2017 is based on the decisions on the Annual General Meeting held on March 23, 2017.

  • The annual remuneration of the Chairman is EUR 30,000 and EUR 1,000 will be paid as remuneration per meeting 
  • The annual remuneration of the other members is EUR 15,000 and EUR 500 will be paid as remuneration per meeting 
  • The members of the Board of Directors will further be reimbursed for reasonable travel costs

CEO

The Board of Directors decides on the compensation and other terms of employment of the CEO. In addition, the Board of Directors also decides on the other compensation payable upon termination of the CEO's service contract. The Board also decides on incentive plans for the CEO as well as the financial performance objectives and the payout under such plans.

The key terms and conditions of CEO’s service are set out in a written President’s contract, which the Board of Directors has approved. The remuneration of the CEO consists of a fixed base salary and customary fringe benefits (such as phone, meal and car benefits). In addition he is included in the CEO's Stock Option program 2014 and the Annual Profit Sharing plan 2008 covering all employees. The CEO has no special retirement arrangements, the CEO's retirement age is determined by the Employees Pensions Act. In CEO's service contract there has not been defined early retirement age nor resigning age. If the CEO’s contract is terminated by either the CEO or the company, the notice period is six months. In addition, six months’ severance pay shall be paid.

Management Team

The CEO makes proposals for the remuneration of the Management Team members.

The Board of Directors decides on the compensation and other terms of employment of the other members of the Management Team. The Board also decides on incentive plans for the Management Team members as well as the financial performance objectives and the payout under such plans.

The remuneration of the Management Team members consists of a fixed base salary and customary fringe benefits (such as phone, meal and car benefits). The members of the Management Team, excluding the CEO, are included in the Share Reward plan 2016-2019. In addition they are all included in the Annual Profit Sharing plan covering all employees. None of the Management Team members has any special retirement arrangements, the retirement age of each member is determined by the Employees Pensions Act. The members of the Management Team, excluding the CEO, have no stock option arrangements.