Remuneration of the Members of Board of Directors

The remuneration of the Board of Directors consists of an annual fee and meeting fee. The meeting fee is paid for every meeting attended. The Board members do not receive shares or share derivatives as remuneration for their membership nor do they participate in Glaston's incentive program.

The Board members are covered by a voluntary pension insurance accrued from board membership fees. The pension liability is covered. The value of the pension insurance corresponds to the Finnish TyEL pension.

Travel expenses for the Board members are reimbursed in accordance with the company's travel policy.

In accordance with a decision of the Annual General Meeting held on 27 March 2012, the annual remuneration of the Chairman of Glaston’s Board of Directors is EUR 40,000, the remineration of the Deputy Chairman EUR 30,000 and the remuneration of Members of the Board EUR 20,000. In addition to the annual remuneration, the members of the Board are paid a meeting remuneration for every Board meeting that a member attends. The meeting remuneration is EUR 800 for the Chairman and EUR 500 for a Member of the Board. Members of the Board are not awarded remuneration in the form of shares or share derivatives during the financial year.

Remuneration paid to Members of the Board in financial periods 2011 and 2010, EUR.

Employees of the Group who serve on the Boards of Directors of Group subsidaries do not receive separate remuneration.