Guidelines for Remuneration

Guidelines for remuneration to senior executives

The AGM 2024 adopted guidelines for remuneration to senior executives. In relation to the previous guidelines, the resolution entails that senior executives shall be able to receive a variable cash salary amounting to a maximum of 60% of the fixed cash base salary, compared to previously a maximum of 50% of the fixed cash base salary.

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.