Remuneration of the Executive Team
The Board’s Remuneration and HR Committee decides on the compensation and benefits of the other Executive Team members based on the President and CEO’s proposal and general principles approved by the Board.
The remuneration of the Executive Team members comprises a monthly total salary (including monthly salary and customary fringe benefits, such as a car and a mobile phone), a supplementary pension plan as well as both short- and long-term incentives.
|
Performance period |
2020 |
|
Incentive based on |
Comparable EBITA as a percentage of net sales, |
|
Potential reward payment |
Will be paid partly in Valmet shares and partly in cash in spring 2021 |
|
Maximum reward opportunity |
The fixed maximum number of shares is calculated in the beginning of the performance period based on 110 percent of the average annual base salary of all members of the Executive Team excluding the President and CEO. |
|
Restriction period |
2 years |
|
Performance period |
2020 |
|
Incentive based on |
Company level and business specific financial and operational targets as well as strategic individual targets |
|
Maximum reward |
60% of base salary |
|
Potential reward payment |
Will be paid in March 2021 |
Notice period for the Executive Team members is six months for both parties. If the company terminates the agreement, there is an additional severance pay equaling six times the last total monthly salary.
Additional pension benefit in the form of a defined contribution pension plan equaling 15-20% of base salary depending on role.
|
|
Fixed Annual Salary (incl. taxable benefits) |
2018 short-term incentive payment |
Share-based incentive payment |
Supplementary pension |
Total compensation |
|
Executive Team, |
3,132,978 |
1,041,851 |
3,111,251 |
531,207 |
7,817,287 |