Remuneration to board members

At the AGM that was held on 6 May 2021, it was decided that the fees to the board of directors shall amount to SEK 600,000 to the chairman of the board and SEK 300,000 each to the other board members who are not employees of the company, SEK 150,000 to the chairman of the audit committee and SEK 50,000 to other members of the audit committee.

Guidelines for remuneration to senior executives

At the AGM that was held on 6 May 2021, it was decided to adopt guidelines for remuneration to the CEO and other senior executives. The basic principle for remuneration and other employment terms is that they should be at the going market rate and competitive in order to ensure that the Group is able to attract and retain competent senior executives at a reasonable cost to the Parent Company.

Remuneration may consist of fixed remuneration, variable remuneration, pension and other benefits. Variable remuneration is paid in cash and based on outcomes in relation to pre­established goals within individual areas of responsibility (Group or business area) and the goals must also be consistent with the interests of shareholders. Unless otherwise agreed, variable remuneration is pensionable salary at an amount not to exceed 50 percent of fixed annual salary for the CEO and not to exceed 50 percent of fixed annual salary for other senior executives.

Pension benefits are associated with defined contribution plans, with individual retirement age not earlier than 60 years of age. Other benefits, such as company cars, supplementary health insurance or occupational health services shall be for a limited amount in relation to other remuneration and it must also be at the market’s going rate.

Notice of termination is normally 6 months for the CEO and 3­6 months for other senior executives. In the event of termination of employment at the request of the Parent Company, the notice period for all senior executives is at most 12 months with entitlement to severance pay after the end of the notice period corresponding to at most 100 percent of fixed salary for at most 12 months (fixed salary during the notice period and severance pay shall, in other works, not exceed 24 months of fixed salary).

The Board of Directors is entitled deviate from the guidelines in specific cases if there are special reasons for doing so.

The Board of Directors present a remuneration report to each AGM that describes how the guidelines have been implemented over the past financial year.