Remuneration

The AGM of the Company held on 12 March 2024 resolved that the following annual remuneration shall be paid to the members of the Board of Directors:

• Chairperson of the Board: EUR 36,000 per year, including committee work
• Members of the Board: EUR 20,000 per year, including committee work

No separate meeting fees are paid and travel expenses are reimbursed according to costs.

The Board of Directors determines the salary, remuneration and other financial benefits of the CEO.

LapWall’s Board of Directors decided on 21 April 2023 to establish a share-based incentive scheme.

The share-based incentive scheme has one three-year vesting period, which covers the calendar years 2023-2025. The vesting period is followed by a commitment period of one year. The earnings criterion for the scheme is the development of the Company’s shareholder value during 2023-2025. The rewards payable under the scheme correspond to a maximum of 218,000 company shares, which represented approximately 1.5% of the company's total when the incentive scheme was established.

The rewards of the share-based incentive scheme are paid partly in LapWall Oyj’s shares and partly in cash. The cash proportions of the rewards are intended to cover taxes and tax-related expenses arising from the rewards paid to participants. As a rule, a participant in the scheme is not entitled to a reward if their employment or manager contract ends during the vesting period or the commitment period.

The amounts of rewards paid based on the schemes will be cut if the maximum amounts set by the Board of Directors for the rewards payable for the vesting period 2023–2025 are reached.

Each member of the Company’s Management Team is obliged to hold at least 50% of the net number of shares paid to them based on the scheme until the value of their shareholding in the Company is equal to half of the value of their annual salary. Similarly, the CEO must hold at least 50% of the net shares paid to them under the scheme until the value of their shareholding in the Company corresponds to the value of their annual salary.