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Remuneration

Remuneration to the members of the Board of Directors during the 2018 financial year (EUR)

Fees and other remuneration to the members of the Board of Directors are resolved by the Shareholders’ meeting. At the annual Shareholders’ meeting held on 27 June 2019, it was resolved that EUR 275,000 shall be paid to the Chairperson of the board of directors and EUR 125,000 to each of the other board members. In addition, EUR 40,000 shall be paid to the Chairperson of the audit committee and the remuneration committee, respectively, and remuneration to each of the other members of the relevant committee shall be paid EUR 20,000 each. The members of the board of directors are not entitled to any benefits following termination of their assignments as directors of the board.

Name

Function

Renumeration from

Renumeration

Pension expenses

Other benefits

Total

Conni Jonsson

Chairman

EQT AB

110,420

 

1,996

112,417

   

Subsidiary* 

257,647

69,910

8,635

336,193

Finn Rausing

Board member

EQT AB

59,894

   

59,894

Gordon Orr

Board member

EQT AB

25,239

   

25,239

Peter Wallenberg Jr

Board member

EQT AB

59,894

   

59,894

Johan Forssell

Board member

EQT AB

       

Edith Cooper

Board member

EQT AB

25,239

   

25,239

Leif Östling**

Board member

 

44,921

   

44,921

Jan Ståhlberg***

Board member

EQT AB

       
   

Subsidiary

140,507

31,962

5,036

177,505

Total

 

 

723,761

101,872

15,669

841,302

*Conni Jonsson is employed on a part-time contract in the subsidiary EQT Partners AB. The employment relates to Conni Jonsson’s work in investment committees. Since 1 January 2019, the part-time contract has been reduced to 25 percent, and for the financial year 2019, the remuneration for this part-time employment is expected to amount to EUR 123,599 based on an exchange rate SEK/EUR of 10,5145

**Leif Östling resigned as board member on 20 September 2018

***Jan Ståhlberg resigned as board member on 19 June 2018

Guidelines for remuneration of the CEO and other senior executives

At the annual shareholders’ meeting held on 27 June 2019, it was resolved to adopt guidelines for remuneration and other terms of employment for the CEO and other senior executives, conditional upon listing of the Company’s shares on Nasdaq Stockholm.

The basic principle is that the remuneration and other employment conditions should be in line with market conditions and be competitive. EQT takes both global remuneration practice and practice in the home country of each relevant senior executive into account.

Fixed and variable remuneration 
The fixed remuneration, i.e. base salary, should be competitive and reflect responsibility and performance. In addition thereto, remuneration may consist of variable components in the form of annual cash bonus (EQT Bonus program), share and share-price related incentive programs (EQT annual share program), other benefits and pension.

The senior executives are partly shareholders in EQT AB. Owners with ownership above 1.5 percent of EQT AB are not comprised by the EQT Bonus program, i.e. annual cash bonuses, nor the EQT annual share program. Therefore, total remuneration of majority of the senior executives consists of base salary, other benefits and pension.

For senior executives owning less than 1.5 percent of EQT AB, the total remuneration consists of base salary, EQT Bonus program, EQT annual share program, other benefits and pension. When applicable, the EQT Bonus program is assessed against financial targets and individual targets. For senior executives, individual performance bonuses under the EQT Bonus program are capped at 100 percent of base salary apart for Capital Raising and Client Relations responsible whose bonus is linked to a number of factors, including the success of any fundraisings. This bonus is applicable for one senior executive and is capped at 700 percent of the base salary.

Share and share-price related incentive programs shall, if resolved on, be decided by the shareholders’ meeting.

To the extent a board member conducts work for EQT, in addition to the board work, consulting fees and other compensation for such work may be payable.

Other benefits and pension 
Other benefits, such as insurances (health, life, travel), sports contributions or occupational healthcare, should be payable to the extent this is considered to be in line with market conditions in the market concerned.

All senior executives are covered by defined contribution pension plans, for which pension premiums are based on the members’ base salary and paid by the company during the period of employment. For current senior executives are pension contributions based on base salary and follow contribution levels in accordance with local market practice, except for the application of a cap. For Sweden, this means that it is comparable to the old BTP plan with a contribution cap for Base Salary exceeding 40 Income Base Amounts.

Terms for the CEO
A twelve (12) months’ notice period will apply if notice is given by the CEO or the company. The CEO’s employment terms include a non-competition clause. If used, this would entitle the employee to an additional compensation corresponding to a maximum of twelve (12) months’ salary, however, reduced by the remuneration paid by a new employer. There is no agreement regarding severance pay.

Terms for senior executives
In the event of notice being given by the company, a notice period of nine (9) months applies, while in the event of notice being given by the senior executive a period of notice of six (6) months applies. The senior executives’ employment terms also include a non-competition clause. If used, this entitles the employee to an additional compensation corresponding to a maximum of nine (9) months’ salary, however, reduced by the remuneration paid by a new employer. There are no agreements regarding severance pay.

Deviations from the guidelines
The board of directors shall be entitled to deviate from these guidelines if special reasons for doing so exist in any individual case.