Remuneration Committee

The remuneration committee shall support the Board of Directors with proposals, advice, and preparation in regard to issues of remuneration principles for the CEO and other senior managers and individual remuneration to the CEO in accordance with established principles. These principles include the relationship between fixed and any variable remuneration, and the relationship between performance and remuneration, the general terms for any bonus and incentive program, and the general terms for non-monetary benefits, pension, notice of termination and severance pay. The board is also responsible as a whole for establishing remuneration levels and other employment terms for the CEO. Share-related incentive programs for senior management are, however, adopted only by the AGM.

The committee shall also; support the Board of Directors in monitoring the system through which the company complies with publication requirements stipulated by legislation, market regulations and the Code in regard to information related to remuneration of the CEO and other senior managers; monitor and assess any ongoing or concluded incentive programs for variable remunerations to the CEO and/or other senior managers; evaluate compliance with the guidelines for remuneration to the CEO and other senior managers adopted by the AGM as well as the current structure and levels of remuneration.

The remuneration committee consists of Christian Kinch (Chairman), Jan Ståhlberg  and Thomas von Koch and complies with the Code’s requirements for independence of committee members.