Remuneration

At the 2011 AGM adopted the Board's proposal regarding principles for remuneration and other terms of employment for senior management.

This means that the company will offer its executives market compensation. Compensation should be based on significance, on skills, experience and performance.

Compensation elements:

• Fixed salary
• Variable pay up to 60%
• Pension benefits under the ITP plan
• Other benefits and severance terms

Group management consists of Executive Director of the parent company, Chief Financial Officer and Executive Directors of the subsidiaries.

Remuneration to directors and senior management for fiscal year 2010 are shown in Note 12 of the Annual Report for 2010.