Remuneration

Guidelines

The Chairman and members of the Board are remunerated in accordance with the resolution of the Annual General Meeting. Remuneration of the CEO and other senior executives consists of basic salary, variable remuneration, other benefits and pensions. Other senior executives are defined as the six people plus the CEO who comprise Group Management. Total remuneration is to correspond to the relevant position’s responsibilities and complexity of the employee’s performance. Variable remuneration is to be based on the operating income for the full year. Variable remuneration should be capped at 50 percent of basic salary for the CEO and a maximum of 35 percent of basic salary for other senior executives.