Eolus has established a bonus and share ownership program for all of the company’s employees. The bonus and share ownership program also includes the company CEO Deputy CEO and other senior executives. A bonus is paid if the company achieves targets set by the Board. The bonus is paid in cash compensation, with the amount equivalent to half a month’s wages. It may be used to acquire Eolus Class B shares through the bank specified by company if the employee wishes.

An additional bonus may be paid in the form of reimbursement for the purchase of additional Eolus Class B shares, in accordance with the incentive program. This opportunity is for employees who purchased company shares for all or some of their bonus payment, and held these shares for three years. An employee who is entitled to an additional bonus is entitled to reimbursement for the purchase of one new share for every two shares acquired using the earlier bonus and held for three years.

Remuneration of the Board

Fees and other remuneration to the Board, including Eolus’s Board Chairman, are determined by the Annual General Meeting. In accordance with the resolution at the Annual General Meeting on January 26, 2019, an annual fee totaling SEK 1 425,000 was determined, of which SEK 375,000 for the Board Chairman and SEK 175,000 each for other Board members.

Compensation of senior executives

Remuneration of the CEO and other members of Group Management (at present Deputy CEO, CFO, General Counsel and head of Project Delivery) is paid in accordance with the guidelines for remuneration of senior executives. The guidelines are adopted by the Annual General Meeting on January 26, 2019, for the period up until the next Annual General Meeting.

Senior executives are to be offered market-based and competitive remuneration. Eolus’s senior executives are the people who make up the company’s Group Management, currently the CEO, the Deputy CEO, the CFO, the General Counsel and the head of Project Delivery.

The level of remuneration for individual executives is to be based on such factors as position, expertise, experience and performance. Remuneration includes fixed salary and pension benefits, and may also include variable salary and other non-monetary benefits.

The company is to have the option to offer all senior executives variable remuneration corresponding to no more than half of one monthly salary per year. The variable salary is to be based on the achievement of one or more quantitative and qualitative targets. The targets are to be formulated with the objective of promoting the company’s long-term value creation.

Furthermore, the company will have the option to offer senior executives a share ownership program under which the company, three years after payment of variable remuneration, reimburses the cost of acquiring half as many shares as the individual acquired for their variable remuneration and continues to hold.

To the extent that a Board member performs work for Eolus alongside his or her Board duties, these guidelines shall also apply to any remuneration for such work. However, the Board member is not to be covered by any share ownership program that applies to other senior executives. The Board of Directors may depart from these guidelines if there are particular reasons in an individual case.