Remuneration
Pursuant to the Finnish Limited Liability Companies Act, the General Meeting decides upon the remuneration paid to the members of the Board of Directors and the basis for it.
The Board of Directors appoints and dismisses the CEO and decides on the terms and conditions of the CEO's employment defined in a written service agreement. In addition, the Board of Directors decides on the remuneration of the members of the Management Team.
The Board of Directors decides upon the individual incentive scheme for the members of the Management Team annually in connection with the preparation of the budget based on the proposal prepared by the CEO.
Bioretec has three valid option programs for employee remuneration. The objective of the Option Program 2018-1 is to operate as a long-term incentive and commitment plan for the company's key individuals. The objective of the Option Program 2020-1 is to operate as a part of the incentive and commitment plan of the company's key individuals and members of the Scientific Advisory Board and the Board of Directors. Option Program 2023-1 is an incentive scheme for the company’s and its subsidiaries' employees, consultants, and the members of the company’s Scientific Advisory Board.