The Board of Directors discusses and regularly assesses the
principles of remuneration to the Board of Executives to ensure
that they comply with the common practice for comparable companies
and reflect the efforts required.
To ensure matching interests between the Board of Executives, executive employees and the shareholders, an agreement has been made for bonus pay which may constitute up to 40% of the basic pay.
The payment of bonus is conditional upon the fulfilment of a number of agreed objectives. No extraordinary severance programmes have been agreed with the Board of Directors, the Board of Executives or executive employees. Some executive employees are entitled to compensation in the event of an acquisition or takeover by an external company.
The Board of Directors receives a fixed remuneration. Remuneration may also be paid for ad hoc work. In 2007, the group established a two-year share option programme for members of the Board of Executives and a small number of executive employees. The Board of Directors has decided not to extend the programme.