The Annual General Meeting in Nexam Chemical Holding AB (publ) resolves remuneration policy for CEO and other Senior Executives in Nexam Chemical Holding AB (publ).
The Annual General Meeting 2019 resolved a remuneration policy in which CEO and other Senior Executives shall be offered a remuneration based on market terms. The remuneration for the CEO and other senior executives may be fixed salary, pension, other benefits and share based incentive programs. The remuneration of the CEO and other senior executives is based on factors such as work tasks, expertise, experience, position and performance. Salary shall be determined per calendar year.
The CEO are entitled to annual pension contributions equivalent to 28 percent of the pensionable salary. Other senior executives are entitled to annual pension contributions equivalent to 12 percent of the pensionable salary. A mutual notice period of six months for Nexam Chemical, the CEO and other senior executives and severance pay, in addition to salary, during the notice period may be up to a maximum of six months’ salary for the CEO and other senior executives. In addition to fixed salary, the CEO and other senior executives are entitled to a performance-based annual variable remuneration. The variable remuneration is conditional in relation to variable remuneration targets, is not pension-entitled and the variable remuneration for the CEO shall not exceed 70 per cent of fixed salary and shall not exceed 50 per cent of fixed salary for other senior executives.
The guidelines shall be applied to new agreements, or existing agreements reached between senior executives after the guidelines have been adopted, and until new or revised guidelines are determined.
The Board of Directors shall annually evaluate whether to propose share based incentive programs to the AGM.
For more information, please see the adopted remuneration policy (in Swedish).