Board of Directors and its Committees
Remuneration of the Chairman, Vice Chairman and members of the Board of Directors and remuneration of the Nomination Board
The Annual General Meeting decided that the members of the Board of Directors be paid the following fixed annual fees for term of office ending at the conclusion of the next Annual General Meeting:
- Chairman of the Board: EUR 100,00
- Vice Chairman and Chairmen of the permanent Committees: EUR 70,000, unless the same person is Chairman of the Board or Vice Chairman of the Board
- members EUR 50,000
In addition, it was decided that the award and payment of the fixed annual fee be contingent on the Board members committing to purchasing directly, based on the resolution of the Annual General Meeting, YIT Corporation shares amounting to 40% of the fixed annual fee from a regulated market (Nasdaq Helsinki Ltd) at a price determined by public trading, and that the shares in question be purchased directly on behalf of the Board members. The shares shall be purchased within two weeks of the publication of the interim report for the period January 1–March 31, 2019.
It was also decided that in addition to the fixed annual fee, the Board members be paid a meeting fee of EUR 800 per meeting to Board member living in Finland and a meeting fee of EUR 2,000 per meeting to member living elsewhere in Europe. In addition, the members of Board Committees are paid an attendance fee of EUR 800 for each committee meeting to a committee member living in Finland and to a committee member living elsewhere in Europe an attendance fee of EUR 2,000 for each committee meeting. Per diems for trips in Finland and abroad are paid in accordance with the State’s travel compensation regulations.
The members of the Shareholders’ Nomination Board, including the expert member, will be paid a meeting fee of EUR 800 per a Board meeting and the Chairman be paid EUR 1,600 per a Board meeting.