Hexagon Annual Report 2019

REMUNERATION OF THE BOARD AND MANAGEMENT (NOK 1 000) SALARIES AND FEES TO BOARD MEMBERS BONUSES PAID 1) BENEFITS IN KIND PAID PENSION PREMIUM VALUE OF AWARDED SHARE OPTIONS 3) TOTAL REMUNERATION 2019 TOTAL REMUNERATION 2018 EXECUTIVE MANAGEMENT Jon Erik Engeset, Group President 3 623 960 20 192 2 025 6 820 5 603 David Bandele, CFO 2 158 465 13 187 1 135 3 957 3 142 Morten Holum, COO 750 3 64 817 Jack Schimenti, EVP 2 904 560 190 145 1 250 5 049 3 747 Heiko Chudzick, EVP Operations 3 771 296 266 0 0 4 333 2 072 Michael Kleschinski, President Hexagon Purus 2 317 433 94 0 0 2 844 3 227 Skjalg Sylte Stavheim, President Hexagon Ragasco LPG 1 964 716 196 116 1 135 4 127 3 688 Seung W. Baik, President Agility Fuel Solutions 3 154 2 737 128 148 0 6 167 BOARD OF DIRECTORS Knut Flakk, Chairman 585 585 570 Kristine Landmark, Deputy Chair 320 320 290 Sverre Narvesen 250 250 220 Elisabeth Heggelund Tørstad 200 200 120 Katsunori Mori 2) 0 0 0 FORMER BOARD MEMBERS Suzana Quintana Plaza 200 200 180 Deputy Board member 0 0 25 Total remuneration 22 196 6 167 910 852 5 545 35 670 22 884 1) Bonuses paid in the year relate to the year 2018. 2) Mr. Katsunori Mori has advised the company that he waives any board remuneration for the period he will serve on the board of directors. 3) The value of exercised share options relates to options issued in 2016. Executives hold other share-based instruments as well (see note Share based payments). The Chairman of the Board has no agreement relating to termination benefits. In his employment agreement, the Group President has a period of notice of 6 months. He has an agreement for up to 12 months' severance pay. The management of the Group have a target-based bonus agreement. At the end of the year, the following bonuses were allocated: NOK 960 thousand to the Group President and NOK 465 thousand to the Group CFO. Group management participates in the Company's general pension arrangements, which are described in note 18, Pensions. The Group President and CFO participate in the Group's defined contribution plan. Group management participate in the Company's share-based incentive scheme, which are described in note 26, Share- based Payment. As of 31.12.2019 the Group President has 370 thousand (520 thousand) share options and 137 thousand (0) provisional performance share units (PSUs) outstanding. The CFO has 230 thousand (330 thousand) share options and 93 thousand (0) provisional PSUs outstanding. No loans have been made, or security provided for loans, to any member of Group management, the Board or other elected standing committees or any of their related parties. 60 146 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS