The remuneration systems have been designed to support the strategic, financial and operative development of DNA, to motivate and to reward for good financial results.
Remuneration of the Board of Directors
DNA’s Annual General Meeting decides on the Board of Directors’ remuneration for the period until the next Annual General Meeting. DNA’s AGM of 31 March 2016 decided not to change the remunerations paid to the members of the Board of Directors, which are the following:
- The Chairman's annual fee: EUR 144,000
- Board Members' annual fees: EUR 48,000
- Board Members' fees for attending meetings: EUR 1,050/meeting/person
- The Chairman of the Committee's fee for attending meetings: EUR 1,050/meeting/person
- Committee Members' fees for attending meetings: EUR 525/meeting/person
The Chairman and members of the Board of Directors have the right to spend 40 per cent of their annual remuneration on
acquiring company shares. Acquired shares are measured at fair value at issue date. Remuneration may be paid by transferring own shares, held by the company, based on the AGM's authorisation of the Board of Directors. Certain conditions apply to the transferability of shares..
Remuneration of the CEO
DNA's Board of Directors decides on the CEO's and Executive Team's salaries, remunerations and long-term incentive schemes. The CEO's total remuneration includes a monthly salary, taxable benefits and an incentive payment. The CEO's period of notice is six months, for both the company and the CEO. If the contract is terminated by DNA, the CEO is entitled to severance pay that equals the CEO's annual salary in addition to the salary paid during the notice period.
The CEO has the right to retire at the age of 60. Supplementary pension rights are assessed based on payments. The CEO's pension includes vested rights.
Remuneration of the Executive Team
The members of the Executive Team receive a total salary, which includes a cash payment, taxable phone benefit and in some cases, a car benefit. The members of the Executive Team also receive incentives based on the financial objectives specified by the company's Board of Directors. The members of the Executive Team are included in the company's long-term share option scheme.
Members of the DNA Executive Team, excluding the CEO, have the right to retire at the age of 62. The pensions are based on payments. The Executive Team members' pensions include vested rights.
DNA's employees are included in the company's incentive and performance-based payment scheme that is confirmed annually by the Board of Directors. The incentives are based on the performance targets set at the company level, as well as individual targets set for each employee. Some responsibilities in the company have their own compensation systems whereby commissions or payments are paid.