Remuneration of the Board of Directors

Pursuant to the Companies Act, the General Meeting decides upon the remuneration paid to the members of the Board of Directors and the basis for it. 

Lamor’s Annual General Meeting, held on 29 June 2021, resolved that the members of the Board of Directors will receive an annual remuneration of EUR 15,000, excluding the Chairman of the Board of Directors, whose annual remuneration is EUR 25,000. According to the decision of the Annual General Meeting, a fee of EUR 1,000 per meeting and a fee of EUR 500 per teleconference will be paid to outside members of the company. The travel expenses are compensated in accordance with the company’s travel policy and the official decision of the Tax Administration on tax-exempt travel allowances.

Lamor’s Extraordinary General Meeting, held on 1 October 2021, resolved that, by way of deviating from the resolution made by the Annual General Meeting on 29 June 2021 and as of the Listing, members of the Board of Directors will receive an annual remuneration of EUR 20,000, excluding the Chairman of the Board of Directors, whose annual remuneration is EUR 30,000. According to the decision of the Extraordinary General Meeting, the members of the Board of Directors, who are not in employment or service relationship with the company, will receive EUR 1,000 per Board meeting attended and EUR 500 per teleconference meeting attended. Travel expenses will be compensated in accordance with the company’s travel policy and official decision of the Tax Administration on tax-exempt travel allowances.

The changes in the annual remunerations of the Chairman and the members of the Board of Directors are conditional on the completion of the listing and the offering.

Remuneration of the members of the Management Team and the CEO

The Board of Directors decides upon the remuneration the CEO and the Management Team and the basis of it. The remuneration of the members of the Management Team and the CEO consists of fixed monthly salary, customary benefits in kind and incentives, as in force from time to time. In addition, the CEO has a housing benefit.

Incentive schemes and restrictions on disposal of shares

Lamor does not have share award systems in force. Lamor’s Board of Directors is investigating the establishment of a stock-based incentive scheme for the company’s key individuals, which would aim to reward the participants in a competitive manner and commit them to Lamor. The establishing of a possible incentive scheme as well as its terms and content will be decided after the listing.