Remuneration of the Management

The remuneration of the President and CEO consisted of a fixed monthly salary and customary fringe benefits (such as phone, meal and car benefits). During the financial year ending on December 31, 2017, the company paid to the CEO a salary of EUR 260,080 (EUR 241,080 in 2016).

Remuneration of President and CEO 2017 2016
Salary and fringe benefits 260 080 241,180
Options 236 100 34 200

Total

496 180 *

275,280 *

 

* In addition to the total salary, the remuneration includes the CEO's stock options.

Stock option program 2014 of the CEO

2017

The CEO subscribed a total of 170,000 new Aspocomp shares under the company's 1/2014 stock option terms on August 23, 2017: 40,000 with the 2014A options and 130,000 with the 2014B options. The new shares were registered in the Trade Register on September 19, 2017. The new shares were incorporated into the book-entry system and admitted to trading on Nasdaq Helsinki in the same class with the company's other shares on September 25,2017. After the registration of the new shares, the total number of Aspocomp Group Plc's shares increased to 6,666,505. 

2016

The CEO subscribed a total of 90,000 new Aspocomp shares under the company's 1/2014 stock option terms on November 28, 2016. The new shares were registered in the Trade Register on December 21, 2016. The new shares were incorporated into the book-entry system and admitted to trading on Nasdaq Helsinki in the same class with the company's other shares on December 22,2016. After the registration of the new shares, the total number of Aspocomp Group Plc's shares increased to 6,496,505. 

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  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. 

 

Remuneration of the Management Team, excluding the CEO 2017 2016
Salaries and fringe benefits, in total 445 400 420,429

Total

445 400

420,429

 

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.