Remuneration Committee

The Company has a Remuneration Committee consisting of two members. The members and the chairperson of the Remuneration Committee shall be appointed and replaced by the Board of Directors. The appointed members of the Remuneration Committee are Kenneth Bern (chairperson) and Martin Mæland (committee member).

The purpose of the Remuneration Committee is to assist the Board in remuneration matters and ensure a comprehensive and well prepared and supervised remuneration model for the Company’s employees, with an emphasis on the remuneration of the Company’s CEO and other senior executives of the Company.

The Remuneration Committee is a preparatory body, and the Board of Directors has the overall responsibility for remuneration related matters. The Remuneration Committee is further not entitled to represent the Company or enter into any agreements in the name of the Company, other than to engage external consultants when performing the Committee’s duties.