Stock Exchange Releases
The Board of Directors of Tulikivi Corporation has approved a new
incentive plan for the Tulikivi Group. The plan includes a share-
based incentive plan for key personnel and an incentive pay scheme
for all personnel.
The Plan includes three earning periods which are calendar years
2008, 2009 and 2010. The potential reward from the Plan for the
earning period 2008 will be based on the Group’s profit after
financial items and cash flow from operating activities.
The potential reward from the earning period 2008 will be paid partly
as the Company’s A-shares and partly in cash in 2009. The proportion
to be paid in cash will cover taxes and tax-related costs arising
from the reward. It is prohibited to transfer the shares during the
two year restriction period. If a key person’s employment or service
ends during the restriction period, he/she must return the shares
given as reward to the Company without compensation. Furthermore, a
key person must own 30% of the shares earned on the basis of the Plan
for two years after the restriction period.
A maximum total of 120,000 Tulikivi Corporation A-shares and a cash
payment corresponding to the value of the shares will be paid as
reward on the basis of the earning period 2008. A maximum total of
360,000 A-shares and a cash payment corresponding to the value of the
shares will be paid as reward on the basis of the entire Plan.
Incentive pay scheme
The incentive pay scheme is based on the achievement of the Group’s
earnings, productivity and personal targets. This scheme covers all
personnel and replaces prior incentive plans.
Mr Heikki Vauhkonen, Managing Director, Tel. +358 207 636 000
OMX Nordic Exchange Helsinki