Guidelines for remuneration of senior executives

Senior executives at Nobina include the CEO, the managing directors of subsidiaries and functions that report directly to the CEO. Remuneration of senior executives includes fixed salaries, short and long-term variable remuneration, pensions and other benefits. Senior executives may also be offered to participate in various incentive programmes issued by Nobina AB on market conditions. The overall aim of such incentive programmes is to create shared interest between Nobina’s senior executives and shareholders.

Variable remuneration is based on the individual’s performance and the company’s performance in relation to predetermined targets. Evaluation of these targets takes place annually. Variable remuneration is capped at 60 per cent of fixed annual salary for managing directors of subsidiaries and is capped at 30 per cent of fixed annual salary for senior executives.

Nobina’s Board of Directors has resolved to introduce a long-term incentive programme in the firm of a share savings programme to further motivate and retain Nobina’s key personnel. Up to 22 senior executives and other key personnel of the Nobina Group are included in the programme, which must not exceed 17 per cent of each participant’s annual fixed salary for 2017/2018.

The share savings programme has two different forms, matching and performance shares, where participants are required to acquire shares in Nobina AB or, alternatively, to use shares they already hold.

Costs for the share savings programme will be recognised over the savings period, which begins on 1 March 2018 and applies for a three-year period. The matching and performance shares will be transferred not later than 45 days after the publication of Nobina’s year-end report for 2020/2021, if participants are still employed by the Nobina Group.

In the event of termination of employment, senior executives at Nobina are entitled to not more than 18 months’ compensation including salary during the notice period. A six-month mutual termination period applies between the company and Nobina’s CEO, while shorter termination periods than six months may be permitted for other senior executives. Up to 12 additional months’ remuneration is payable for the CEO should employment be terminated by the company, while shorter termination periods than 12 months may be permitted for other senior executives.

Pension and terms for the CEO

The retirement age for the company’s CEO is 65. Pension expenses comprise defined- contribution pensions, for which the premium is equal to 35 per cent of pensionable salary. Pensionable salary refers to basic salary as long as the CEO remains employed by the company. Salary paid upon termination is not pensionable.

The CEO is entitled to 30 days of holiday and, in addition to the taxable benefits described above, also to health insurance and a company car. If the CEO chooses to refrain from a company car then monthly compensation is paid corresponding to the taxable benefit value.

Remuneration of the Board of Directors

Remuneration to the Chairman and other members of the Board is paid according to the decision of the AGM. No remuneration is paid to the Board beyond that approved by the AGM. Directors’ fees paid during the fiscal year totalled SEK 2.5 million.



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