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In accordance with his employment agreement, the President and CEO, Michael Wolf, receives a fixed annual salary of MSEK 3,7 (2007 level) and a variable compensation amounting to up to 100 percent of his base salary. Michael Wolf has a defined contribution pension plan corresponding to 35 percent of his fixed annual salary.
Michael Wolf has a retirement age of 65, which can be extended or shortened if agreed by the company. If Michael Wolf terminates his employment agreement, he has a six-months term of notice. If terminated by the company, provided that the termination is not due to a breach of contract on Michael Wolf´s part, his notice period is twelve months and a severance pay equal that of the current annual salary will be paid out in twelve equal installments starting after the termination of the notice period.
Michael Wolf has a retirement age of 65, which can be extended or shortened if agreed by the company. If Michael Wolf terminates his employment agreement, he has a six-months term of notice. If terminated by the company, provided that the termination is not due to a breach of contract on Michael Wolf´s part, his notice period is twelve months and a severance pay equal that of the current annual salary will be paid out in twelve equal installments starting after the termination of the notice period.
