Click here to download the catalog as a PDF file. Norske Skog - Page 484. emPLOyee BeNeFIt eXPeNSeS NOTE salaries social security contributions pension costs national insurance, pension and other social costs Total 2009 2 331 503 148 118 3 100 2008 2 628 504 118 131 3 381 2007 2 730 462 128 175 3 495 5 MAN-LABOUR yEARS By GEOGRAPHICAL REGION europe south america australasia asia Corporate functions (head office) Total the former Chief executive officer (Ceo), Christian rynning-tønnesen resigned from his position in november 2009. He will receive salary and other benefits from the company until he formally leaves the company 31 May 2010. an accrual of nok 3 203 000 has been made for total salary, fringe benefits and pension costs in the notice period. the new Ceo, sven ombudstvedt, took up the position on 1 January 2010. the base salary for the former Ceo was nok 3 973 220 as at 31 December 2009. total salary and other benefits received by Christian rynning-tønnesen during 2009 amounted to nok 7 045 802. the Ceo's retirement age is 64, and his pension amounts to 65% of base salary from retirement age to 77 years, and thereafter 60%. the mutual period of notice for the Ceo and other members of corporate mana2009 3 725 556 997 247 143 5 668 2008 3 837 574 1 051 788 176 6 426 2007 4 094 587 1 086 1 563 242 7 572 gement is six months. If circumstances arise in which the company or the person concerned, by mutual agreement, terminates the contract of employment in the best interests of the company, the company guarantees to pay the affected person’s base salary for a period of 18 months from the end of the period of notice. the annual bonus agreements for the Ceo and other members of corporate management specify a maximum payment of 50 per cent of base salary. the basis for calculating this bonus – the targets – is set annually by the board and Ceo. remuneration to members of the corporate assembly and the board amounted to nok 509 000 and nok 3 368 000 respectively in 2009. For further information on remuneration to executive employees, please see note 4 in the parent company accounts. REMUNERATION FOR THE CEO AND OTHER MEMBERS OF THE CORPORATE MANAGEMENT (in nok 1 000) In accordance with the code of practice for the corporate governance recommended by the oslo stock exchange, remuneration for members of the corporate management is specified below. BASE SALARy 31.12.2009 Christian rynning-tønnesen kristin slyngstad klitzing rune gjessing Jan-Hinrich Clasen audun røneid terry Hamilton 1) 2) PAyMENTS IN KIND ETC. FOR 2009 1) 221 204 192 182 193 190 BONUS 2009 2) 2 851 916 928 915 0 644 3 973 1 725 1 900 2 110 2 300 2 100 Includes special benefits, car allowance, newspapers, free telephone etc. Based on results achieved in 2008, paid in 2009. Includes in addition bonus for the turnaround programme. 48 // norske skog // annual report 2009 |