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29. Related party disclosures
       
Related parties comprise the Board of Directors, the President and CEO, the Board of Management as well as the associated companies and the joint ventures.
       
Salaries and bonuses paid to management    
       
In thousands of euros 2010 2009
President and CEO and his deputy    
  Salaries and other short-term benefits 924 922
  Bonuses* 367 246
  Share based bonuses 675  
    1 966 1 169
Other members of the Board of Management    
  Salaries and other short-term benefits 1 503 1 678
  Bonuses* 561 376
  Share based bonuses 1 350  
    3 415 2 054
Board of Directors 31 December 2010    
  Antti Lagerroos, chairman 138 125
  Matti Vuoria, deputy chairman 97 89
  Maarit Aarni-Sirviö, member 67 61
  Kaj-Gustaf Bergh, member 66 60
  Alexander Ehrnrooth, member 64  
  Paul Ehrnrooth, member 63  
  Ole Johansson, member    
  Bertel Langenskiöld, member 67 60
  Mikael Lilius, member 62  
Board of Directors, until 4 March 2010    
  Kari Kauniskangas, member 2 59
    626 455
       
Salaries and bonuses paid to management, total 6 006 3 677
       
* In addition a cost reserve of EUR 4,876 thousand (1,780), has been made for the expenses arising from the bonus schemes tied to the price development of the company's share for President and CEO and his deputy and the other members of the Board of Management.
       
The holdings of Wärtsilä shares of the President and CEO, and some of the members of the Board of Directors and Board of Management at the year end were 76,009 shares (70,428).
       
The President and CEO and some of the members of the Board of Management are entitled to retire on reaching 60 years of age. The Group has no loan receivables from the executive management or the Board of Directors. No pledges or other commitments have been given on behalf of management or shareholders.
       
Business transactions with the associated companies and joint ventures
       
MEUR 2010 2009
Net sales to the associates and joint ventures in the consolidated statement of income 5 16
Receivables from the associates and joint ventures in the consolidated statement of financial position 12 23
Advances paid to the associates and joint ventures in the consolidated statement of financial position 52 54
Payables to the associates and joint ventures in the consolidated statement of financial position 8 11
       
Detailed financial information of the associated companies and joint ventures is presented in Note 14. Investments in associated companies and joint ventures.