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Incentive program for senior management

At the Annual General Meeting held on June 16, 2020 adopted the Board's propose to continue with a long-term cash-based incentive program for corporate management as set out below.

The outcome of the program depends on how the annual average growth of the company's earnings per share is developing. Maximum compensation is payable if the annual average growth of the company's earnings per share for the period from January 1 until December 31 over the three year period amounts to at least 15%.

In order to participate in the incentive program for the period the member of senior management must have been employed for six months in the current year of the program start and be employed on December 31 at the end of the three year period, and his/her employment contract on the same date must not be under notice of termination.

Payout occurs in the following year.

The Board of Directors determines the profitability and sales targets applicable to the program, the individual members of senior management in the group CEO and management team who are eligible to participate in the program, and decide whether the conditions that confer the right to payment of bonus under the incentive program for an individual member of senior management have been met.