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Short-Term Incentives

Sampo plc's Board of Directors annually decides on the maximum pay-out of short-term incentive programs and each program is annually approved by the respective group company. Most Sampo Group employees participate in some form of annual short-term incentive program. Some groups of employees are not entitled to variable compensation (e.g. employees in control functions). Employees with sales commission do not participate in short-term incentive programs.

In the If Division, the majority of employees participate in a performance sharing program with a fixed maximum pay-out. Managers and key specialists participate in a short-term incentive program where maximum pay-out is 10-100 per cent of annual fixed salary. Both programs are triggered by net profit. Part of the employees participate in one of the company-offered sales incentive programs, which are all capped at a maximum fixed amount.

In the Mandatum Life Division, employees participate in a short-term incentive program where maximum pay-out corresponds to 1-12 months' fixed salary. The program also comprises a group pension plan and a personnel fund element. Wealth managers have a sales provision system similar to collectively agreed sales commission systems.

In Sampo plc, all employees take part in a short-term incentive program where maximum pay-out corresponds to 1-12 months' fixed salary. The program also comprises a personnel fund element.

Short-term incentives of the members of the Group Executive Committee and the Group CEO

In addition to receiving monthly salaries, executives who are members of the Group Executive Committee participate in a short-term incentive program, which is decided upon by Sampo plc's Board of Directors separately each year. The criteria used in determining the pay-out are the Group's result, the business area's result and the individual performance of the person in question.

The maximum pay-out to executives who are members of the Group Executive Committee corresponds to 9 months' fixed salary.

The Group CEO participates in a short-term incentive program, which is decided upon by Sampo plc's Board of Directors separately each year. The maximum short-term incentive corresponds to 9 months' fixed salary.

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Updated 03/15/2016