OUTOKUMPU TECHNOLOGY OYJ STOCK EXCHANGE RELEASE MARCH 23, 2007 AT 9.30 AM
SHARE-BASED INCENTIVE PROGRAM FOR KEY PERSONNEL
Outokumpu Technology's Board of Directors has decided to adopt a share-based incentive program for the company's key personnel.
The purpose of the incentive program is to get key employees' commitment and to encourage them in achieving of the company's financial targets and also for increasing of the company's shareholder value.
Some 20 key employees participate in the two-year share-based incentive program. The earnings period has started on January 1, 2007 and ends on December 31, 2008.
The reward paid to the key personnel is determined by the achievement of the targets set for the development of the company's net profit and order backlog. The reward is paid in shares and as a cash payment (which approximately will cover income taxes). The shares will be allocated to the key personnel in the spring of 2009.
The maximum reward of the incentive program is EUR 6.7 million. After the reduction of the approximate cash payment to cover the income taxes, the maximum reward would equal to approximately 98,000 of company's shares based on the company's current share price.
OUTOKUMPU TECHNOLOGY OYJ
Rita Uotila, Vice President - Investor Relations
tel. +358 20 529 2003, mobile +358 400 954141
Helsinki Stock Exchange