The Board of Directors
The amount of remuneration granted to the board of directors, including the chairman, is determined by resolution at the Annual General meeting. At the Annual General Meeting of the Company on April 24, 2025, it was resolved, in accordance with the nomination committee’s proposal, that the remuneration to the directors is to be SEK 1,881,000 in total, including remuneration for committee work (SEK 1,753,000 previous year) and shall be paid to the board of directors and the members of the established committees in the following amounts; SEK 230,000 (SEK 215,000) for each of non-employed director and SEK 485,000 (SEK 450,000) to the chair of the board of directors provided that the chair is not an employee; SEK 90,000 (SEK 85,000) to the chair of the audit committee and SEK 40,000 (SEK 37,000) to each of the two other members of the audit committee; and SEK 30,000 (SEK 27,000) to the chair of the remuneration committee and SEK 23,000 (SEK 21,000) to each of the two other members of the remuneration committee.
Guidelines for remuneration to senior executives
The remuneration paid to the group management is to comprise fixed salary, possible variable remuneration, pension and other benefits, such as any company car and company healthcare etc. The total remuneration package should be based on terms prevailing in the market, be competitive and reflect the individual’s performance and responsibilities as well as, with respect to any share based incentive plans, the value growth of the Company’s share which is to the benefit of the shareholders.
Variable salary in cash is conditional upon the fulfillment of defined and measurable goals which should be determined by results. The variable salary in cash should at most amount to 50 percent of the annual fixed salary for the respective senior executive. Terms and conditions for variable salary shall give the board of directors the option to, under exceptional economic conditions, limit or refrain from payment of variable salary, if such action is deemed reasonable and consistent with the Company’s responsibility towards shareholders, employees and other stakeholders.
Pension benefits should be defined contribution. The age of retirement follows the country specific pension rules.
Members of the group management shall as a main rule have a mutual notice period of 6 months.
Any severance pay may amount to a maximum of 12 months for the members of the group management and a maximum of 18 months for the CEO. No severance payment will be made when the employment is terminated by the employee.
The board of directors shall have the right to deviate from the guidelines resolved by the general meeting if, in an individual case, there are special reasons for this.
The members of the board of directors may in special cases be remunerated for services carried out within their specific area of expertise, which do not constitute board work. For such services, market compensation shall be paid, which is subject to approval by the board and to information at the annual general meeting.