Incentive Programme

Employee Options Program 2013/2017
The 2013 Annual General Meeting voted in favour of establishing a new, long-term employee incentive program involving the allotment of a maximum of 900,000 employee options free of charge to all Group employees.

The employees will receive options based on their performance in the 2013, 2014 or 2015 financial years and allotment will take place in connection with the publication of the year-end financial statement for the subsequent year. Each employee option will entitle the holder to acquire 1.207 new share in BioInvent for a subscription price of SEK 2.92 during the period from the date of publication of the Company’s year-end financial statement for the 2016 financial year up to and including 1 December 2017. Subscription price and number of shares that each employee option entitles to are converted pursuant to rights issues carried out. Allotment of 100,747 employee options took place in February 2014, 74,516 employee options took place in February 2015 and 50,250 employee options in February 2016.

To guarantee BioInvent’s commitment and cover the costs associated with Employee Incentive program 2013/2017, the 2013 Annual General Meeting resolved to issue a maximum of 1,182,780 warrants to BioInvent Finans AB.

Assuming that all allotted employee options relating to Employee Incentive Program 2013/2017 are exercised for subscription of new shares and the additional warrants ensuring BioInvent’s costs in relation to the allotted employee options, the Company’s share capital will increase by SEK 28,617 equivalent to about 0.1 percent of shares and votes in the Company after full exercise.

Subscription Warrants Program 2016/2019
The 2016 Annual General Meeting resolved to adopt an incentive program for the company’s employees in the form of a subscription warrants program. The incentive program entails that a maximum of 2,650,000 subscription warrants shall be issued and may result in a maximum dilution effect of approximately 0.9 percent.

The program includes all employees except the CEO and other senior executives comprised by the stay-on bonus program implemented in 2015. The subscription warrants are transferred at market value and each employee may be allotted a maximum of 50,000 subscription warrants. 855,000 subscription warrants were transferred in the second quarter 2016. Subscription of shares by exercise of subscription warrants shall take place during the period from and including 1 July 2019 up to and including 1 December 2019. The subscription price per share shall be SEK 2.81. As part of the incentive program, participants who remain in their employment with the company as per 1 June 2019 receive a stay-on bonus corresponding to two times the amount paid for the acquired subscription warrants, however no more than SEK 60,000.