Remunerations

Remuneration to the Board

Remuneration to the Board in Stille will be decided at the AGM based on a proposal from the nominations committee.

Remuneration to senior officials

The Company must have formalised and transparent processes for decisions about remuneration to senior officials. Remuneration and other terms and conditions of employment for senior officials should be designed with the aim of ensuring the company’s access to staff members with the skills the company needs for the company’s adapted expenses and so that they have the intended effect for operations.

Guidelines for remuneration to the Managing Director and other senior officials

Where group management is concerned, Stille applies the following principles for remuneration and terms and conditions:

• Remuneration to group management should be market-oriented, should be determined by the Board and based on the significance of work tasks, and the experience and performance of the individual.
• Remuneration consists of the following components: basic wage, short-term variable remuneration, pension benefits and other benefits as well as severance terms and conditions.
• The Board decides on pension benefits for group management. The pensionable age for group management is 65 years. The so-called Supplementary Pension Plan for Salaried Employees [ITP plan] constitutes the basic pension benefit.
• Group management may be entitled to a company car, fuel benefits and health insurance.