The Board of Directors of Oriola-KD Corporation has resolved on a new incentive plan for key personnel
(Thomson Reuters ONE) - Oriola-KD Corporation Stock Exchange Release 11 February 2010 at 8.40 a.m.The Board of Directors of Oriola-KD Corporation has approved a new share-basedincentive plan for the Group's key personnel. The aim of the Plan is to combinethe objectives of the shareholders and the key personnel to increase the valueof the Company, to commit the key personnel to the Company, and to offer them acompetitive reward plan based on holding Company shares. The Plan constitutes acrucial part of the Group key personnel remuneration program.The new Plan includes three earning periods, calendar years 2010, 2011 and2012. The Board of Directors of the Company will decide on the earnings criteriafor the earnings period and on the targets to be established for the criteria atthe beginning of each earning period. The potential reward from the Plan for theearning period 2010 will be based on the Oriola-KD Group´s earnings beforeinterest and taxes (EBIT) and return on capital employed (ROCE) percentage. TheBoard of Directors will have the possibility to change the earnings criteria forthe following earning periods.The potential reward from the earning period 2010 will be paid in 2011 partly asthe company's class B-shares and partly in cash. The part to be paid in cashwill cover taxes and tax-related costs arising from the reward. No reward willbe paid if a key person's employment or service with a Group company ends beforethe reward payment. The shares cannot be transferred during a restrictionperiod, which ends two years from the end of the earning period. Should a keyperson's employment or service with a Group Company end during the restrictionperiod for reasons attributable to the key person, he/she must gratuitouslyreturn to the company the shares given as reward, which are subject to thetransfer restriction. The President and CEO of the Company and the members ofthe Group Management Team must hold 50% of the shares received on the basis ofthe Plan as long as his/her employment or service with a Group companycontinues.If, at the time of payment of a reward based on the Plan, a key person's totalearnings exceed his/her previous year's total salary multiplied by 3.5, thereward to be paid on the basis of this Plan will be reduced for such exceedingpart. Total earnings mean total salary together with annual bonus and long-termincentive plan, and total salary means basic salary together with fringebenefits.The Plan is a continuation of the share based incentive scheme for 2007-2009,which includes 11-21 persons during separate earning periods. The last earningperiod of the share based incentive scheme for 2007-2009 ended at the end of2009. The share based incentive scheme for 2007-2009 comprised a maximum of650,000 class B-shares.The target group of the new Plan consists of approximately 55 persons. The Plancomprises of a maximum of 1,200,000 class B-shares. The rewards to be paid onthe basis of the Plan will correspond to the value of a maximum total of2,400,000 Oriola-KD Corporation class B-shares (including also the proportion tobe paid in cash).The Board of Directors will separately decide on the targets to be establishedfor the earnings criteria and on potential amendments to the Plan after theclosing of the acquisition of the Swedish pharmacy chain.Oriola-KD Corporation has on 10 February 2010 a total of 151,257,828 shares, ofwhich 47,667,359 are class A-shares and 103,590,469 class B-shares.Oriola-KD CorporationEero HautaniemiPresident and CEOThomas HeinonenGeneral CounselFurther information:Eero HautaniemiPresident and CEOTel. +358 10 429 2109e-mail: eero.hautaniemi(at)oriola-kd.comDistribution:NASDAQ OMX Helsinki Ltd.Principal mediaPublished by:Oriola-KD CorporationCorporate CommunicationsOrionintie 5FI-02200 Espoo, Finland02200 Espoowww.oriola-kd.com[HUG#1383207]
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Datum: 11.02.2010 - 01:41 Uhr
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