February 15, 2013 at 00:00 AM EST
Basware' s share-based incentive plan for key personnel will continue until end of 2015

Basware Corporation, stock exchange release, February 15, 2013, at 07:00

Basware` s share-based incentive plan for key personnel will continue until end of 2015

Basware informed about a new share-based incentive plan for the Basware Group key personnel for 2012-2014 on February 17, 2012. The company has been in the transition from a software company to a service company. During the transition process, meeting the profit targets has been slower than expected. Because of this, the Board of Directors of Basware Corporation has updated the share-based incentive plan for the key personnel to continue until the end of 2015.

The aim of the plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the company, commit the key personnel to the company, and offer them a competitive reward plan based on shareholding in the company. Accordingly, the Board of Directors encourages the Basware Executive Team members to hold shares in the company equaling the value of annual gross base salary.

The system includes four earning periods, calendar years 2012, 2013, 2014, and 2015. The system comprises annual earning periods 2012, 2013, 2014, and 2015 and fixed earning period 2013-2015. Members of Basware Executive Team may be allocated additional shares without consideration against shareholding during the earning period 2012-2015.

The Board of Directors decides on the earnings criteria and related targets separately for each annual earning period at the beginning of the earning period. The reward for the fixed earning period 2013-2015 is based on Basware Corporation`s earnings per share (EPS). The target group of the fixed earning period 2013-2015 includes the members of the Basware Executive Team.

The terms of the incentive plan remain the same with the exception of adding one earning period to the plan.

The shares to be allocated at the target level will continue to correspond at the current share price to the approximate amount of 275.000 Basware Corporation shares (including also the proportion to be paid in cash) and totalling 412.500 at the maximum. The possible shares to be allocated will consist of own shares held by the company or acquired in public trading through NASDAQ OMX Helsinki Ltd.

More information about the compensation of Basware`s management is available on the company`s investor pages at http://www.basware.com/about-us/investors.

For more information, please contact:

Hannu Vaajoensuu, Chairman of the Board, Basware Corporation
Tel. +358 40 501 8250

Distribution:
NASDAQ OMX Helsinki Ltd
Main media
www.basware.com




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Basware via Thomson Reuters ONE

HUG#1678469
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here