Remuneration Committee

The purpose of the Remuneration Committee is to evaluate the Group's overall payroll structure, #xed and variable remuneration components, and other benefits to the President, other senior executives and executives reporting directly to the President. Its duties also include the evaluation of the connec-tion between performance and compensation, issues involving bonus and variable salary, pensions, severance payments, etc. The Committee also assists the Board in drafting proposals for guidelines for remuneration for senior manage¬ment that the Board presents to the AGM. The Group strictly applies the grandfather principle.

At the Inaugural Board Meeting that was held on 25 March 2010, the Board resolved to re-appoint Lars Lundquist (Chairman) and Matts Ekman as members of the Remuneration Committee. Both members are independent in relation to the Company, its management and principal shareholders.

The Company's Human Resources Director and, when necessary, the President, attend the com-mittee's meetings. In 2009 the committee met nine times with all members present at all the meetings (seven times the previous year) and discussed issues such as the framework of the year's salary revision for senior executives, principles for variable compensation (i.e., targets and outcomes), pensions and other issues mentioned above within the framework of the committee's competence and duties. The Remuneration Committee reports to the Board.