Guidelines for remuneration to the CEO and other senior executives
Remuneration to the CEO and other senior executives consists of a fixed salary, other benefits and pension plans. A market-based monthly salary is paid to the CEO and other senior executives. Other normal employee benefits are also applicable. Variable remuneration is paid to all full-time employees, with the exception of the CEO, according to a profit-sharing program adopted by the Board on April 20, 2016.
Remuneration to board members
Remuneration to the members of the Board and senior executives, and other remuneration to elected members, including the Chairman, is resolved by the AGM. At the Annual General Meeting on March 22, 2016 it was resolved that the remuneration to each of the elected Board members shall amount to SEK 180,000. The Chairman is paid SEK 360,000. The company’s board members are not entitled to any benefits after they have resigned as members of the board.
Current employment agreement for the CEO and agreements with other senior executives
The Board makes decisions on current remuneration and other terms of employment for the CEO. Under current agreement, the CEO is entitled to a monthly salary of SEK 102,000. No variable remuneration is paid to the company’s CEO. Both Paradox and the CEO shall exercise a six-month notice period. Upon termination by the company, Paradox has the right to immediately separate the CEO from his position and deny access to Paradox’s premises and property. The CEO is not entitled to any severance payment. Paradox will exercise a notice period in accordance with the Employment Protection Act.
Senior executives must exercise the same notice, however not longer than 3 months. Other senior executives are not entitled to any other compensation in connection with the termination of their employment. Other employed senior executives have customary terms of employment.
All full-time employees and temporary employees with an employment of at least three months are entitled to participate in the Company’s profit-sharing program. These conditions mean that the staff receives 5 percent of the company’s profit before distribution, allocations and tax and an additional 5 percent of profit before distribution, allocations and tax which exceeds a profit margin of 10 percent.