According to MuniFin’s Articles of Association, the Annual General Meeting (AGM) decides on the remuneration paid to the Board of Directors. The Shareholders’ Nomination Committee prepares the remuneration proposal for the AGM. Board members receive a fixed annual fee and meeting fees. Their remuneration is paid for a term starting from the end of the AGM and ending at the end of the next AGM.
The Board decides on the remuneration and other benefits of the CEO and the Deputy CEO. The Board also decides on the remuneration and incentives of the other members of the Executive Management Team based on the CEO’s proposal. The company has a remuneration policy for its executive management and employees, the terms and implementation of which are decided by the Board. This policy does not apply to Board members.
The remuneration paid to the executive management and employees consists of fixed remuneration (cash salary and fringe benefits) and a variable element. MuniFin does not offer non-standard fringe benefits. The fixed total salary constitutes the major portion of the total annual remuneration paid to the executive management and other employees.
Board members, the CEO, the Deputy CEO or other employees cannot own shares in the company.