Remuneration
According to the Finnish Companies Act, the Annual General Meeting of Shareholders decides on the fees payable to the members of Administer’s Board of Directors.
The Chairman of the Board shall be paid an annual remuneration of EUR 50,000 and other members of the Board of Directors who are not employed by the Company shall each be paid an annual remuneration of EUR 25,000. If a Board member resigns during his/her term of office, the remuneration will be paid in proportion to the term of office actually taken place.
Should the Board of Directors during its term resolve to establish committees, the committee chairman shall be paid EUR 500 per meeting and other committee members shall be paid EUR 300 per meeting. Board members’ and committee members’ travel expenses shall be reimbursed in accordance with the Company’s travel policy.
The table below sets forth the salaries and fees paid to the CEO and the management team of the group and the members of the company’s Board of Directors for the financial periods 2021, 2020, 2019 and 2018.
| (TEUR)(Unaudited) | 2022 1.1.-31.12 | 2021 1.1.–31.12. | 2020 1.1.–31.12. | 2019 1.1.–31.12. | 2018 1.1.–31.12. |
| CEO | 218,0 | 208,0 | 207,7 | 187,2 | 206,6 |
| Other members of the Management Team | 901,2 | 727,6 | 622,7 | 534,5 | 358,51) |
| Board of Directors | 160,9 | 61,0 | 56 | 56 | 47 |
| Total | 1280,1 | 996,6 | 886,4 | 777,7 | 612,1 |
| 1) The Group did not have a Management Team in 2018, and due to this, the table includes the figure for the Company’s Management Team. |
No loans, guarantees or other contingencies have been granted to the CEOs or members of the Boards of Directors of the group companies. The CEOs of the group companies are covered by TyEL or YEL. No other pension commitments have been made in connection with the CEOs or members of the Boards of directors or previous members of the governing bodies. [Furthermore, the employment or service agreements entered into by Administer with the members of the management do not include severance benefits when they terminate.]
Incentive plans
Administer does not have share-based incentive plans in effect.
Administer offers incentive plans to the group’s personnel and the members of the management team based on their performance.