Guidelines for Remuneration

Guidelines for remuneration to senior executives

The AGM 2026 adopted guidelines for remuneration to senior executives. In relation to the previous guidelines, the proposal entails that all senior executives shall be able to receive termination pay and severance pay in a combined amount equivalent to not more than 24 monthly salaries, compared to previously not more than twelve monthly salaries for other senior executives besides the CEO (who under the current guidelines receives not more than 24 monthly salaries). The reason for the change is that senior members of the executive management are entitled to longer notice periods under collective agreements based on age and length of service, which means that the combined benefits may exceed twelve monthly salaries.

According to the guidelines, salaries, and other terms of employment for senior management are set at market rates. In addition to a fixed cash base salary, senior executives can also receive a variable cash salary, which will be limited and based mainly on technical and commercial milestones within proprietary drug projects. In addition to such fixed and variable compensation, the Company may pay a stay-on bonus which for a three-year period may amount to a maximum of 100 percent of the fixed salary for a year. Senior executives may also receive remuneration in the form of options or other share-related incentive programs, as decided by the Annual General Meeting of shareholders. The complete guidelines can be seen here.