GUIDELINES FOR REMUNERATION OF SENIOR EXECUTIVES
The Chief Executive Officer and other senior management are to be offered remuneration that is commensurate with the market and competitive.
The level of remuneration for the individual senior executive is to be based on factors such as position, competence, experience and performance. The remuneration consists of fixed salary and pension and in addition may comprise variable salary, severance pay and non-monetary benefits. The variable salary is to be based on quantitative and qualitative targets being met.
The Chief Executive Officer is to have the option of a variable bonus of not more than 50% of basic salary and other members of the Group management of not more than 30% of basic salary.
It is to be possible for severance payment to be made of not more than six months' salary if the company terminates employment. Salary during the period of notice and severance pay are to be payable in a total amount not exceeding 24 months' salary.
It is proposed that the Board be permitted to depart from the guidelines if there are special reasons for doing so in an individual case.
Salary and other remuneration for the Chief Executive Officer are discussed by the Remuneration Committee of the Board and presented for the Board's decision. Salaries and other remuneration for other senior management who report to the Chief Executive Officer are decided by the Chief Executive Officer in consultation with the Remuneration Committee.
Midsona has one outstanding incentive scheme - TO2019/2022. This scheme can give a maximum of 148,000 new B shares upon full conversion. For more information, please contact Midsona.