Remuneration for members of the board of directors

The AGM 2019 resolved that the remuneration for the Board of Directors shall be a total of EUR 439,600 allotted as follows:

  • EUR 100,000 to the Chairman,
  • EUR 33,000 each to the other members of the Board of Directors, and
  • EUR 10,000 to the Chairman of the Audit Committee and EUR 8,200 each to the other members of the committees appointed by the Board of Directors.

The remuneration to the auditors shall be paid in accordance with approved accounts within the
given quotation.

Guidelines for remuneration of the Senior Management of Eltel

Eltel’s overall objective is to offer senior management a competitive and market-based level of remuneration consisting of fixed and variable salary, pension and other remuneration components. Remuneration shall be determined in relation to area of responsibility, duties, expertise and performance.

The fixed salary component equals and compensates for an engaged work of management at a high professional level, creating value to Eltel. The short-term variable salary component is based on predetermined and measurable financial targets recommended by the Remuneration Committee and ultimately decided by the Board of Directors.

The pension terms of senior executives should be market based in relation to those that generally apply for comparable executives. Being an international team with members from Sweden, Finland and Denmark, the pension terms of Eltel’s senior management reflect some national differences. In addition, senior executives may be offered long term incentive schemes on market-based terms.The Board shall have the right to deviate from the guidelines in individual cases if there are particular grounds for such deviation.

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Eltel AB POB 126 23, SE-112 92 Stockholm, Sweden

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