Management remuneration

Remuneration of CEO
The remuneration to the CEO and management consist of a basic salary and variable incentives, i.e. performance-based remuneration. Variable incentives include short- and long-term goals as well as an annual incentive scheme. The Board of Directors confirm the CEO salary and other benefits. The company's Board of Directors decide on the incentive bonuses of the CEO. The bonuses to be paid from Reka Industrial Oyj are paid 40% in shares and the rest in cash.

Annual salary
CEO's total annual salary in 2023 was EUR 117 thousand including fringe benefits.

Short- and long-term incentive
The CEO's total remuneration consists of a fixed base salary with fringe benefits and variable incentives, ie performance-based remuneration. The CEO's variable incentives include an incentive scheme based on the company's long-term goals and an annual incentive scheme. Other staff may have an annual incentive plan.

In long-term incentive plans, the vesting periods are at least three years. Each earning period may have one or more earning criteria. The Board of Directors clearly determines how each earning criterion is measured and the maximum reward at the same time as the target setting. No remuneration will be paid unless the minimum target set by the Board for the earnings criterion is reached

Pension
The pension of the CEO is according to the Finnish retirement legislation (TyEL)

Termination of assignment  
The notice period is one month on both sides, if the CEO will continue as CFO after the termination of CEO contract. If also the management contract ends, the notice period is 6 months for the company and 3 months for the CEO. If the company terminates the management contract, the severance payment is the full salary of 6 months according to original management contract.

Management remuneration
Management members have bonus target agreement in Reka Industrial Plc. The management has the right to bonus according to the company's management remuneration system. No one can have two parallel short-term bonus target agreements.