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 company’s Extraordinary General Meeting of the Shareholders resolved on 4 November 2021 that as of 1 January 2022 the Chairman of the Board of Directors will be paid EUR 5,000 per month and other members EUR 4,000 per month. The travel expenses of the members of the Board of Directors are reimbursed in accordance with the company’s travel policy. The resolution of the Extraordinary General Meeting of the Shareholders is conditional to the completion of the FN Listing.

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 nine months ended 30 September 2021 and 30 September 2020, as well as for the financial periods ended 31 December 2020, 31 December 2019, and 31 December 2018.

(TEUR)(Unaudited)2021
1.1.–30.9.
2020
1.1.–30.9.
2020
1.1.–31.12.
2019
1.1.–31.12.
2018
1.1.–31.12.
CEO158.3158,0207,7187,2206,6
Other members of the Management Team599,6508,6622,7534,5358,51)
Board of Directors4541565647
Total802,9707,6886,4777,7612,1
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.