Fiven Annual Report 2020

2. Benefits, pension and insurances – The benefits are deter- mined considering market standards and job level and include elements such as mobile phone, laptop and car allowance / company car. The executive management participate in the relevant local pension schemes in their countries of residence in line with established market practices. The executive man- agement is covered by insurance arrangements applicable to Fiven employees in their respective countries of residence. 3. Variable compensation – The executive management partic- ipates in an annual bonus scheme linked to achievements of both financial, strategic and operational targets. The financial targets are linked to EBITDA Adj. and cash flow from operations. 4. Loan and guarantees - There are no loans or guarantees to the executive management. Termination of employment - The employment agreements for the executive management have a 3 to 6-month period of notice from last day of the month in which the written notice is given. The table below details compensations paid to group manage- ment in 2020: Amounts in EUR thousand Company Position Salary Bonus Other Pension cost Total Falk Ast Chairman 270 65 103 - 438 Stein Erik Ommundsen Chief Financial Officer 175 10 16 7 207 Fernando Miquel Peraire Chief Operating Officer (from 1.5.2020) 111 0 10 2 122 Betty Lunøe Åsheim Chief Commercial Officer 130 19 22 10 180 Pål Einar Runde Chief Research Officer 135 14 29 10 188 Total 821 107 180 28 1 136 Note 11 Other operating expenses Amounts in EUR thousand 01.01-31.12.20 05.02-31.12.19 Marketing and salesrelated expenses 769 803 Transport and maintenance 2,627 934 Lease expenses 475 221 IT related expenses 2,558 1,528 Travel, Insurance, meetings and office expenses 1,640 1,111 Consultancy fees and external personnel expenses 2,648 3,134 Audit expenses 1) 407 115 Transactions expenses 1,218 1,972 Other operating expenses 1,911 1,078 Total other operating expenses 14,253 10,895 In 2019 Transport and maintenance expenses with TEUR 5,076 and Energy and water expenses with TEUR 13,497 was presented as part of the cost of goods and change in inventory. 1) REMUNERATION OF THE AUDITOR Amounts in EUR thousand 01.01-31.12.20 01.05-31.12.19 Audit services 311 100 Other assurance services 90 7 Other non-assurance services 6 8 Total total audit expenses 407 115 PWC is the group auditor of Fiven. Fiven Annual Report 2020 Financial statements   49