Remuneration
Remuneration of the Board of Directors
In accordance with the Finnish Limited Liability Companies Act, the Annual General Meeting decides annually on the remuneration payable to the members of Canatu’s Board of Directors.
On 23 August 2024, Lifeline SPAC I’s Extraordinary General Meeting, that resolved on the combination of Canatu and Lifeline SPAC I, resolved that the members of the Board of Directors are paid annual remuneration as follows: for the Chair of the Board EUR 80,000, the Vice Chair of the Board EUR 48,000 and for each ordinary member of the Board EUR 44,000.
Remuneration of the members of the Management Team
The total remuneration of the President and CEO and the Management Team consists of a fixed base salary, fringe benefits, voluntary pension plans, a short-term bonus plan and a long-term share incentive plan.
The CEO’s salary and other benefits are decided by the Board of Directors and confirmed in a written CEO contract. The CEO’s contract can be terminated by either party with six months’ notice. If the company terminates the CEO’s contract without a reason specified in the contract, the CEO is entitled to a severance payment corresponding to nine months’ salary.
Incentive schemes
All indefinitely employed employees and directors of Canatu are within the scope of a bonus scheme. The bonus targets are both personal (20% weight) and company-wide (80% weight). The current bonus scheme is in force until 31 December 2024, and the Board of Directors may decide on its continuance.