Cloudberry Clean Energy Annual report 2020

97 Cloudberry Annual report 2020 Financial statements Renumeration of Executive Group management The renumeration of the Executive Group Management is based on a fixed salary, including personal benefits such as free telephone and health insurance, a variable group performance bonus scheme, pension bene- fits, and a long-term share-based incentive program. The table below shows the renumeration in 2020 NOK 1 000 Anders Lenborg (CEO) Christian Helland (CVO) Suna Alkan (CSO) Jon Gunnar Solli (COO) Tor Arne Pedersen (CDO) Total Salary 1 864 1 448 1 306 1 490 1 330 7 437 Bonus 1 150 600 500 600 600 3 450 Pension costs 66 62 69 63 68 328 Share based payment 426 269 120 160 149 1 124 Total reportable benefits paid 2020 3 506 2 378 1 995 2 314 2 147 12 340 The table below shows the renumeration in 2019 NOK 1 000 Anders Lenborg (CEO) Christian Helland (CVO) Suna Alkan (CSO) Jon Gunnar Solli (COO) Tor Arne Pedersen (CDO) Total Salary 609 150 200 563 - 1 522 Bonus - - - - - - Pension costs 31 8 11 31 - 80 Share based payment - - - - - - Total reportable benefits paid 2019 640 158 211 594 - 1 602 Please note that Tor Arne Pedersen was hired in 2020, while Suna Alkan and Christian Helland was hired in second half year of 2019. The Board of Directors have set targeted Key Performance Indicators (KPIs) for the group performance bonus scheme that was applicable for achievements in 2020. The bonus for the Group Management was achieved 100% for 2020. For 2021 the Group has established a compensation committee which will set the targets for 2021. There has been no payment of renumeration to the Board of Directors in 2020, this will be paid in after the General meeting held in April 2021. The renumeration will then be: Chairman of the Board: NOK 200 000,- Vice chairman: NOK 187 500,- Board member: NOK 175 000,- The nomination committee will propose the renumeration for the board members for 2021 at the Company general meeting in April 2021. Chairman of the board, Frank J Berg has a consultant agreement in 2020. This agreement will terminate April 2021. Please see note 27 transactions with related parties.