Remuneration for Executive management

The remuneration for executives can consist of fixed cash salary, variable cash remuneration, pension and insurance benefits, and other customary benefits. Additionally, the General Meeting may, irrespective of these guidelines, resolve on, among other things, long-term share-based or share-related incentive programmes/remuneration.

The Board of Directors decides at its discretion, according to established internal performancebased goals, whether a variable cash remuneration should be paid to the executives. The variable cash remuneration shall mainly be linked to predetermined and measurable criteria which can be financial or non-financial. Variable cash remuneration may amount to not more than 50 per cent of the fixed salary. Additionally, the executives may be entitled to an individual premium-based pension plan according to which the Company pays premiums corresponding to a maximum of 4.5 per cent of the fixed salary up to 7.5 income base amounts, and premiums corresponding to a maximum of 30 per cent on salary components exceeding 7.5 income base amounts. Other benefits may include, for example, health insurance, health care and car benefits.  Such benefits may amount to not more than 10 per cent of the fixed salary.