Corporate Governance

Remuneration

Remuneration

Remuneration of the Board of Directors and CEO

In accordance with the Articles of Association, the shareholders decide on the fees paid to Board members at the Annual General Meeting. On 26 April, 2023, The Annual General Meeting approved a monthly fee of EUR 7,000 for the Chairman of the Board of Directors, an annual fee of EUR 30,000 for the Vice Chairman and an annual fee of EUR 18,000 for each member of the Board of Directors. In addition, the members of the Board of Directors are reimbursed for reasonable travel expenses for the meeting.

A meeting fee of EUR 500 per meeting was resolved to be paid for meetings of the Board’s Audit
Committee.

The remuneration is paid as follows: The remuneration of the Chairman of the Board of Directors is paid monthly in cash and 50% of the annual remuneration of the Vice-Chairman and members of the Board of Directors is paid in shares in Vincit Plc held by the company or, if this is not possible, in Vincit Plc shares purchased on the market and 50% is paid in cash. The shares will be transferred to the members of the Board of Directors and, if necessary, acquired on the market directly on behalf of the members of the Board of Directors within one month of the decision of the General Meeting. The meeting fees of the members of the Audit Committee are paid in cash.

The Board of Directors decides on the remuneration of the CEO and other members of the management team and on the basis of which remuneration is paid. The notice period for the CEO is three months. If the company terminates the contract unilaterally, the CEO is entitled to a bonus equivalent to three months' salary.