OUTOTEC OYJ STOCK EXCHANGE RELEASE, APRIL 23, 2010 AT 9.30 AM
Share-based Incentive Program 2010-2012
Outotec's Board of Directors has decided to adopt a new share-based Incentive Program for the company's key personnel. The Program comprises three earning periods: calendar years 2010, 2011 and 2012. The Board of Directors determines the amount of the maximum reward for each individual, the earning criteria and the targets established for them separately on an annual basis.
The Board approved 71 individuals in the scope of the Incentive Program 2010-2012 for the 2010 earning period, which commenced on January 1, 2010. The reward is based on the achievement of the targets set for cost savings, order intake and earnings per share. The reward will be paid in 2011 in the company's shares and as a cash payment, which equals income taxes. The person must hold the earned shares for at least two years after the end of the earning period. If the person's employment ends during this engagement period, he or she has to return all or part of the earned shares to the company without compensation.
The maximum total reward for 2010 earning period of the Incentive Program 2010-2012 equals to the value of 361,750 Outotec shares, and the maximum value of the rewards of the whole Incentive Program 2010-2012 equals to approximately 1,000,000 shares, including the cash payment.
The Board of Directors decided not to choose persons or earning criteria for the 2010 earning period of Outotec's previous share-based Incentive Program 2008-2010, because the Incentive Program 2010-2012 will replace it.
For further information please contact:
Ari Jokilaakso, Senior Vice President - Human Capital
tel. +358 20 529 2008
Eila Paatela, Vice President - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198
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