General principles regarding management compensation
The board of directors decides the management's compensation. MSAB will pay a competitive compensation in line with the current market conditions to the CEO.
Employment terms for the CEO
The CEO compensation consists of a fixed salary, pension benefits and a company car. The fixed salary amounts to SEK 4.5 million per year during 2010, no variable salary exists. Notice period for the CEO is six months and 24 months for MSAB. Ulrik Svensson has the right to severance compensation amounting to 18 months of salary if the majority of the votes in MSAB are transferred outside the Schörling family.
Retirement terms for the CEO
MSAB shall pay a premium amounting to approximately 25% of the fixed salary for pension- and medical insurances.
Option agreements
MSAB does not have any option agreements. Melker Schörling has through a fully owned company issued a call option to Ulrik Svensson.
Incentive programme
MSAB has not introduced any incentive programme.