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Incentive plans

Ansaldo STS has developed and set the rules for:

  • a medium-term stock grant incentive plan,
  • a long-term cash incentive plan

The plans are part of an array of short-, medium- and long-term incentives that represent a significant component of total management compensation of the Group.

The incentive plans are furthermore structured so as to tie significant portions of a manager's compensation to the achievement and improvement of financial/business parameters and to strategic objectives particularly important for the creation of value at a Group level.

Stock grant plan

With reference to the stock grant plan, the Group proceeded with verifying the achievement of the objectives to which the assignment of the quota related to 2007 had been tied. The three objectives assigned in relation to EVA, orders and share performance vis-à-vis the Mibtel Index for the year of 2007 were achieved in full.

As a result, consistent with the plan rules, all of the shares originally provided were assigned to the persons entitled thereto. The Company thus proceeded with the assignment of 317,022 shares on 1 December 2008.

2006-2008 Cash incentive plan - 2007 tranche

The 2006-2008 cash plan for 2007 involves five executives of Ansaldo STS and its subsidiaries, who are considered key in the achievement of the Group's strategic and business/financial objectives. The three-year plan provides for the payment of a cash sum, up to a maximum of annual gross compensation (RAL), linked to the achievement of previously assigned objectives.

A review of the objectives assigned in 2007 indicates that they were fully achieved. The plan also has access thresholds (that are different for the various managers), all of which were exceeded. Therefore, and in accordance with the plan regulation, in June 2008 the incentive portions accrued for the tranche 2007 were paid.

2007-2009 Cash incentive plan - 2007 tranche

The 2007-2009 cash plan for 2007 involves four executives of Ansaldo STS and its subsidiaries, who are considered key in the achievement of the Group's strategic and business/financial objectives. The three-year plan provides for the payment of a cash sum, up to a maximum of annual gross compensation (RAL), linked to the achievement of previously assigned objectives. A review of the objectives assigned in 2007 indicates that they were fully achieved. The plan also has access thresholds (that are different for the various managers), all of which were exceeded. Therefore, and in accordance with the plan regulation, in June 2008 the incentive portions accrued for the tranche 2007 were paid.