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2009-02-25 09:40:00 CET 2009-02-25 09:40:53 CET REGULATED INFORMATION Kemira Oyj - Company AnnouncementNew share-based incentive plan for Kemira's Management Board membersKemira Group Stock Exchange Release Febuary 25, 2009 at 10.40 am (CET+1) New share-based incentive plan for Kemira's Management Board members The Kemira Board of Directors has decided to introduce a new share-based incentive plan aimed at Strategic Management Board members, as part of the company's incentive and commitment schemes. The plan is divided into three one-year performance periods: 2009, 2010, and 2011. Payment depends on achievement of the set operating profit targets. The program also includes a three-year goal, which is tied to the development of the operating profit as a percentage of revenue by the end of 2011. Any payments will be paid as a combination of Kemira shares and cash payments covering the taxes, according to the achievement of set goals. The combined value of shares and cash payments paid out in the course of the three-year share-based incentive plan may not exceed the individual's gross salary for the same period. Shares earned through the share-compensation plan must be held for a minimum of two years following the date of each payment. In addition, members of the Management Board must retain shares obtained through the share-based incentive programs at least to the value of their gross annual salary for as long as they remain in the company's employment. The shares transferable under the plan comprise treasury shares or Kemira Oyj shares available in public trading. In addition to the new share-based incentive plan aimed at Management Board members, Kemira has had a share-based incentive plan aimed at key personnel since 2004, in which members of the Management Board will no longer participate. Share-based incentive plans aim to align the goals of shareholders and key personnel in order to increase the value of the company, motivate key personnel, and provide competitive shareholder-based incentives. Kemira Oyj Päivi Antola, Senior Manager, Investor Relations and Financial Communications Source of additional information: Kemira Oyj Jukka Hakkila, Group General Counsel Tel. +358 40 544 2303 Kemira is a focused company, best in water and fiber management chemistry. In 2008, Kemira recorded revenue of approximately EUR 2.8 billion and had a staff of 9,400. Kemira operates in 40 countries. www.kemira.com |
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