Guidelines for remuneration
Guidelines for the determination of fees and other remuneration to Global Health Partner AB’s senior management
Global Health Partner AB (the company) shall aim to offer total remuneration that is reasonable and competitive within the market in which the company is operative. The remuneration conditions shall reflect the principle of “pay in line with performance” and vary in relation to the performance of the individual and the results of the company. The total remuneration can consist of an annual basic salary and remuneration from incentive programmes.
Basic salary and remuneration
The annual basic salary (”basic salary”) shall constitute the basis of the total remuneration for the company’s senior management. The salary shall be competitive in the relevant market and reflect the responsibility that the work entails. Salary levels shall be reviewed regularly (normally via the annual salary evaluation) in order to ensure continuing competitiveness and to reward individual performance.
According to the principle of “pay in line with performance” remuneration from different forms of incentive programmes can constitute an important part of the total remuneration for the company’s senior management. Such remuneration may be offered both for short-term performance objectives (up to 1 year) and for long-term performance objectives(3 years or longer).
Performance can be measured both against financial and non-financial objectives. Financial objectives shall consist of value-creation at Group level, as well as other financial objectives. Non-financial objectives shall focus on factors in accordance with the company’s strategic plans.
Other variable remuneration may be approved by the Board under extraordinary circumstances, provided that such extraordinary arrangements have the aim of recruiting or retaining personnel. Furthermore, such extraordinary arrangements that have the aim of retaining personnel shall contain performance objectives. Extraordinary arrangments with the aim of recruiting may contain such objectives.
Insurable benefits
Old age pension, sickness benefits and medical benefits shall be designed so that they reflect rules and common practice. Pension schemes shall as far as possible be defined contribution plans.
Other benefits
Other benefits can be granted to individual members or to the company’s entire senior management. These benefits shall not constitute a significant part of the total remuneration.
Deviations from the guidelines
The Board shall be authorized to deviate from these guidelines if there are special reasons for doing so in individual cases.
Incentive programmes
The company does have an incentive programme in force at present.
The extraordinary general meeting held on 27 November 2009 decided to introduce a share warrant programme for employees of the Global Health Partner Group. The programme will give employees the opportunity to purchase share warrants at the market price, with a three-year term and an exercise price of SEK 16.
In addition, one share warrant will be given free of charge for every two stock options purchased at the market price. The free share warrant can be used to buy shares after three years, provided the holder is still employed at Global Health Partner. The exercise price is SEK 16.