Remuneration for members of the Board of Directors

The Annual General Meeting 2020 resolved that the remuneration for the Board of Directors shall be a total of EUR 299,400 allotted as follows:

  • EUR 100,000 to the Chairman of the Board of Directors,
  • EUR 33,000 to each of the other members of the Board of Directors, and
  • EUR 10,000 to the Chairman of the Audit Committee and EUR 8,200 to each of the other members of committees established 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 different countries, 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 and conditions. 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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