Corporate Governance

11. Remuneration of the Board of directors

The annual General Meeting approves the remuneration paid to the Board of Directors each year. The Proposal for the remuneration is made by the Chair of the Nominating Committee.

The remuneration of the board members reflects responsibility, expertise, time spent and the character of Kitron’s business. The remuneration is not linked to the company’s performance or share price. The remuneration to the chairman is determined separately from the other members. Additional remuneration is made to the members of the board who are appointed to board committees, on a per meeting basis.

Board members are not encouraged to perform special assignments for the company in addition to their directorship. Such assignments, if any, are reported to the full board and disclosed in the annual report.

Information about each director’s remuneration, including shares and subscription rights, is provided in the notes to the annual financial statements in the Annual Report.

The members of the Board are encouraged to own shares in Kitron.

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