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An account is given to the Annual General Meeting each year, regarding the company’s guidelines for remuneration to senior executives.
Salaries for the company’s executives are based on information obtained from comparative statistics showing pay levels for other enterprises in the industry and other relevant enterprises. The company’s strategy is to offer competitive salaries. However, the company does not wish to be a wage leader. A bonus scheme has been established in which the maximum payment to each individual is set at 30 percent of annual salary, based on budgets and target achievement in a pre-determined action plan.
Managers also participate in Veidekke’s general share programme under which employees are invited each year to purchase Veidekke shares at a discount price and with financial assistance. See “Shareholder Information”.
Veidekke has no share option schemes. Reference is also made to Notes 4 and 31.