Remuneration issues

Guidelines for remuneration to the Board

The meeting 2012 decided to accept the nominations committee’s proposal that the total fee to the Board be unchanged from last year at SEK 1,200,000, of which SEK 400,000 to the chairman and SEK 200,000 to each of the Board members elected by the meeting and not already an employee of the company or a subsidiary, and that no special fees be paid for work on Board committees.

Guidelines for remuneration to senior management

The AGM decided in accordance with the Board’s proposal to establish the following guidelines for determining salaries and other remuneration to senior executives up to the time of the 2013 AGM. The company shall have a remuneration level and other employment terms that are needed to recruit and keep key decision makers with the right skills and capabilities to achieve the company’s objectives.

Total remuneration – made up of various components such as fixed salary, bonus, participation in share-linked incentive scheme, pension benefits and other remuneration and benefits – shall be reasonable, competitive and market-based, and shall be decided with regard to, among other things, performance, position and importance for the Group.

Fixed salary shall be paid for satisfactory work and shall normally be reviewed once a year. A bonus shall be offered, but shall be primarily based on results and bonus targets, established once a year, and be a maximum of 6 months’ salary. Senior executives shall be given the right to arrange individual pension solutions.

Pension solutions shall be premium-based. Notice of dismissal from the company’s side shall be at most 12 months. Dismissal salary and severance compensation combined shall not exceed 12 months’ salary. In addition, other remuneration and benefits may be offered to facilitate possibilities to complete work assignments.

The Board has the right to deviate from these guidelines in individual cases if there is good reason.

To ensure continuity, the Guidelines for remuneration to senior management are in line with previous years’ remuneration principles and agreements.