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2015-12-18

KONE OYJ: KONE's Board of Directors decides on new share-based incentive programs

KONE Corporation, stock exchange release, December 18, 2015 at 1.30 p.m. EET

KONE's Board of Directors decides on new share-based incentive programs

KONE Corporation's Board of Directors decided at its meeting on 18 December
2015 that KONE will have two (2) separate share-based incentive plans going
forward. The target groups and targets within the plans as well as possible
rewards are decided upon annually. The share-based incentive plans are used
in order to encourage KONE's key personnel to engage in long-term efforts to
grow shareholder value and to increase their commitment to the company by
offering them an internationally competitive incentive program. The company's
Board Members are not included in the plans.

Of the two separate share-based incentive plans, one is for the senior
management of KONE (the President and CEO, members of the Executive Board and
other top management), consisting of approximately 65 individuals. The second
plan is for other key personnel of KONE, totaling approximately 425
individuals. The incentive plans will be part of their remuneration starting
from the financial year 2016. According to the decision, the potential reward
is based on the annual growth in sales and earnings before interest and taxes
(EBIT) in both plans. However, KONE's Board of Directors has the possibility
to change the basis of the target setting annually. The potential reward is
to be paid as a combination of KONE class B shares and a cash payment
equivalent to the taxes and similar charges that are incurred from the
receipt of the shares. Both plans include a condition preventing participants
from transferring the shares for a period of two years following the ending
of each earning period. A long-term target for share ownership has been set
as part of the plan for the senior management of KONE.

Following the decision, KONE does not grant new stock option plans. The
current existing stock option plans 2013, 2014 and 2015 shall be carried out
based on the original terms of these programs.

For further information, please contact:

Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226

Sender:

KONE Corporation

Jukka Ala-Mello
Secretary to the Board

Eriikka Söderström
CFO

About KONE

KONE is one of the global leaders in the elevator and escalator industry.
KONE's objective is to offer the best People Flow® experience by developing
and delivering solutions that enable people to move smoothly, safely,
comfortably and without waiting in buildings in an increasingly urbanizing
environment. KONE provides industry-leading elevators, escalators, automatic
building doors and integrated solutions to enhance the People Flow in and
between buildings. KONE's services cover the entire lifetime of a building,
from the design phase to maintenance, repairs and modernization solutions. In
2014, KONE had annual net sales of EUR 7.3 billion, and at the end of the
year over 47,000 employees. KONE class B shares are listed on the NASDAQ
Helsinki Ltd. in Finland.

www.kone.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KONE OYJ via Globenewswire

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