Board Of Directors Of Kyro Approves Incentive Plan For Key Personnel

The Board of Directors of Kyro Corporation has approved a new share-based incentive plan for the Kyro Group's (Glaston Corporation as of 1 June 2007) key personnel.

The plan includes three one-year earning periods which are the calendar years 2007, 2008 and 2009. The rewards will be paid partly as the Company's shares and partly in cash in 2008, 2009 and 2010. The proportion to be paid in cash will cover taxes and tax-related costs arising from the reward to the key personnel. It is prohibited to transfer the shares within two years from the reward payment.

The potential reward from the plan for the earning period 2007 will be based on the Group's operating profit and the growth of net sales.

The incentive plan is directed to approximately 20 key employees during the earning period 2007.

If the targets established for the earnings criteria of the plan for years 2007-2009 are attained in full, the rewards to be paid on the basis of the plan will correspond to the gross value (including also the cash payment) of approximately 1,305,000 Kyro Corporation shares.

600450 Board Of Directors Of Kyro Approves Incentive Plan For Key Personnel glassonweb.com
Date: 9 May 2007
Source: Kyro

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