Last edited: 15.2.2018

Remuneration Statement

Board of Directors. The remuneration of the Members of the Board of Directors is decided by the Annual General Meeting. On March 28, 2017, the AGM decided that the remunerations to be paid to the Members of the Board of Directors should be as follows: 

  • The annual remuneration of the Chairman of the Board is EUR 45 000, of which 40 % is paid as shares and the remaining 60% as advance tax, withheld and paid to the tax authority by the company. In addition, an attendance fee of EUR 500 shall be paid per meeting. The attendance fee shall be paid for every meeting attended. Other costs such as travel and lodging expenses will also be compensated.
  • The annual remuneration for the board members is EUR 30 000, of which 40 % is paid as shares and the remaining 60 % as advance tax, withheld and paid to the tax authority by the company. In addition, an attendance fee of EUR 500 shall be paid per meeting. The attendance fee shall be paid for every meeting attended. Other costs such as travel and lodging expenses will also be compensated.
  • The monthly remuneration of EUR 750 shall be paid in addition to the remuneration mentioned above shall be paid to the Working Committee. The Chairman of the Board will however not be paid this Working Committee remuneration since this remuneration is included in his remuneration mentioned above.
  • The remuneration for the Chairman and members of the Board of Directors shall be paid in December 2017 for the entire term of office. The part of the remuneration that shall be paid in shares may be paid by issuing new shares in the company, or by acquiring shares according to the authorization given to the Board of Directors by the General Meeting. Primarily, the shares should be paid by acquiring own shares on the public market. The receiver of the remuneration shall pay the transfer tax.

CEO and Other Management Team. The company Board of Directors decides on the salary, remuneration and other benefits received by the CEO. Salary, remuneration and other fringe benefits paid in 2016 to the CEO of Robit Plc totaled EUR 182 973. In addition, there was an additional voluntary pension payment of 8 000 EUR in the financial year. There were no share based benefits in the financial year.

In case the contract is terminated by the company, the company will pay the Group CEO a compensation equivalent to a total of six (6) months’ salary (including car and mobile phone benefit). The work obligation shall be mutually agreed by the parties at the time of termination of the contract. Additionally, in case the contract is terminated by the company, the company will pay the Group CEO a one-time payment equivalent to a total of three (3) months’ salary.

Decisions concerning incentive and remuneration systems for the management are made by the Board of Directors based on proposal made by the CEO. Salary for all members of the Management Team consists of a fixed basic salary and a results-based bonus. The amount of results-based bonus is determined by the company performance, the business area in question and other key operative objectives.