Varma

Remuneration of the members of the Board of Directors

The Board of Directors convened 10 times in 2015. The average attendance rate (including deputy members) was 90%.

Remuneration of Varma’s Board of Directors is decided by the Supervisory Board. In 2015, the annual remunerations were: EUR 45,000 for the Chairman of the Board, EUR 32,000 for the Deputy Chairmen, EUR 18,000 for the members, and EUR 13,000 for the deputy members. A meeting fee of EUR 600 per meeting was also paid. The same meeting fee is also paid for the separate meetings of the Board of Directors’ committees, as well as for the meetings of the presiding officers and the Supervisory Board.

The Supervisory Board decided on 2 December 2015 that the remunerations for 2016 will remain unchanged.

Members of the Board of Directors are insured under Section 8 of the Employees Pensions Act TyEL, and a TyEL contribution is paid on the meeting fee.

Varma's Board of Directors 2015 – attendance and remunerations
Board ofNominationMeeting and
Directors'and Com-AuditElectionSuper-AnnualCommittee
meetings,pensationCommit-Commit-visoryremunera-remunera-
NameattendanceCommitteeteeteeBoardtion, €tions, €Total, €
Chairman
Berndt Brunow9/105/53/32/345,00010,50055,500
Deputy Chairmen
Jari Paasikivi9/104/53/332,0008,70040,700
Antti Palola10/105/53/33/32/332,00012,90044,900
Members
Riku Aalto9/101/318,0006,00024,000
Mikael Aro9/1018,0005,40023,400
Johanna Ikäheimo8/102/318,0006,00024,000
Ari Kaperi9/103/31/318,0007,80025,800
Jyri Luomakoski9/103/32/318,0008,40026,400
Petri Niemisvirta10/1018,0006,00024,000
Ilkka Oksala8/1018,0004,80022,800
Kai Telanne10/102/318,0007,20025,200
Veli-Matti Töyrylä9/103/33/318,0008,10026,100
Deputy members
Eija Hietanen5/711,3753,00014,375
Mikko Ketonen10/1013,0006,00019,000
Arto Kuusiola3/34,8751,8006,675
Liisa Leino8/101/313,0005,40018,400