Remuneration

The 2018 AGM resolved on remuneration to senior executives. Current guidelines for remuneration to senior executives will be proposed to the AGM for 2019.

The guidelines in full are presented below
Here, senior executives mean the Chief Executive Officer, Deputy CEO and other executives in the company’s management group. Remuneration to senior executives shall be competitive and market related and is to be based on the position, competence and performance of the individual executive.

Salary
Remuneration consists of fixed salary, other benefits and defined contribution pension plan plus can additionally consist of variable compensation based on quantitative and qualitative targets, which can amount to a maximum of 40 percent of fixed salary (excluding social insurance costs).

Other benefits
Here, other benefits mean standard non-monetary benefits such as a company car and company healthcare. Notice period and severance pay: In the event notice to terminate is made by the company, normally three to
six months notice will apply and from the executive’s side, three months notice, exceptionally up to six months. Severance pay ought not arise.

Mandate for the board to depart from the guidelines:
Questions on remuneration to senior executives are to be addressed, prepared and resolved on by the board. The board shall have the right to deviate from the guidelines in individual cases if there are specific reasons for this.