Remunerations for members of the board of directors

Fees and other remuneration for members of the board of directors, including the chairman of the board, are resolved upon by the general meeting. The annual general meeting held on 27 April 2022 decided that total fees to the board members, for the period until the next annual general meeting, shall amount to SEK 1,300,000. SEK 500,000 shall be payable to the chairman of the board and SEK 200,000 to each of Charlotte Gogstad, Johan Kleberg, Gert Wilhelm Munthe and Therese Reuterswärd. Furthermore, the three of the board members who are independent of major shareholders are covered by warrant programmes, see Incentive programme

Members of the Company’s board of directors shall not be entitled to any benefits once they retire as members of the board of directors.

Remuneration to the CEO and executive management

The Company strives to offer a total compensation package that is market-driven and thereby able to attract and retain qualified employees. Remuneration should be based on the employee’s position, responsibilities and performance. The total remuneration of senior executives shall consist of a fixed salary, variable cash compensation and a retirement plan.
The fixed salary is the basis for the total remuneration. The fixed salary shall be based on the skills, responsibilities and performance of the member of the Group Management and shall be competitive with the prevailing market standards. The CEO receives a fixed monthly salary amounting to SEK 190,000.

The variable remuneration shall be linked to predetermined and measurable criteria and shall be based mainly on the Group’s financial performance for each year. Variable remuneration paid in cash shall not exceed 100% of the fixed salary. Retirement plans shall be designed to reflect normally accepted levels and practices in the country where the executive is employed. Where possible, retirement plans should be defined contribution.

In the event of termination by LMK Group, severance pay of up to nine months’ salary may be payable.
In addition to the before mentioned variable remuneration, share-based incentive programs may be decided from time to time, which shall be approved by the Annual General Meeting, , see Incentive programme.