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Management and personnel         

Sponda Plc’s President and Chief Executive Officer is Kari Inkinen. The Executive Board comprises the President and CEO, the CFO, the SVP for Corporate Communications and IR, and the heads of the business units, in total seven persons.

The key figures for Sponda Group’s personnel are as follows:

 

2013

2012

2011

2010

2009

Average number of employees during year

121

122

123

123

135

Number of employees at end of year

118

119

128

119

134

Employee benefit expenses, M€

13.3

13.5

13.0

11.1

12.1

Sponda has personnel in Finland and in Russia.

Sponda has an annual remuneration scheme that covers all employees and is based on both company objectives and personal targets. The key factors affecting the individual’s bonus are profitability and business development.

Sponda has long-term share-based incentive scheme, which have four three-year earning periods (calendar years 2011–2013, 2012–2014, 2013–2015, and 2014–2016). The Board of Directors will make separate decisions on the earning criteria applicable to each earning period and the targets to be established for them.

The earning criteria for the earning period 1.1.2011–31.12.2013 and 1.1.2012–31.12.2014 are the Group’s average Return on Capital employed (ROCE) for the financial periods and the Group’s cumulative Operational Cash Earnings per Share (CEPS) for the financial periods. In addition, the earning criteria for the earning period 1.1.2013-31.12.2015 include the selling of properties. On 1 November 2013 Sponda's Board of Directors changed the earning criteria of the key employees' share-based incentive scheme due to change in Sponda's strategy, which was published in 3 September 2013. The implementation of strategy is supported by the criterion related to the sale of properties. In addition, the Board of Directors assesses the Group's success in relation to the prevailing market conditions.

The incentive scheme currently covers the members of the Executive Board, seven people altogether. The Board of Directors may decide to include more key employees in the scheme. More information on the terms of the incentive scheme can be found from the Stock Exchange Release dated 20.3. 2012, 1.2.2013 and 1.11.2013.

Sponda’s aim is to ensure equal rights between its male and female staff, different business units, employees of different ages with different tasks, and between full-time and part-time staff. Sponda monitors salaries in different professional groups on an annual basis. In 2013, male and female staff received the same rate of pay for doing the same job.