REC Silicon Annual Report 2019

59 Notes to the consolidated financial statements, REC Silicon Group REC Silicon Annual Report 2019 All amounts are exclusive of social security tax. Therewere no payments and benefits from the Group for services outside their functions as GroupManagement. Base salary represents the amount, including holiday pay that was paid in the year. Bonus amounts represent bonuses earned during each year and are normally paid and reported as taxable income for the employee in the subsequent year. Pension benefits include benefits earnedwith respect to defined benefit plans and contributions related to defined contribution plans. Other taxable benefits include company car / coverage of automobile expenses / vehicle allowance, telephone and internet service, newspapers, health clubmemberships, reimbursement of home- office related expenses, cash in lieu of paid time off, and certain other benefits. The benefits vary, and the amounts in the table are the amounts that are taxable based on rules and regulations in the relevant tax jurisdictions. At December 31, 2019 and 2018, members of the Group Management have contracts that entitle them to severance benefits beyond the normal notice period if employment is terminated by the Group. These severance payments are equal to sixmonths of salary forMr. Torvund and threemonths of salary forMr. May. Compensation of the Board of Directors paid in 2019 (AMOUNTS IN USD) NAME BOARD COMPENSATION COMPENSATION FOR COMMITTEES Jens Ullveit-Moe 59,949 0 Espen Klitzing 39,966 5,709 RagnhildWiborg 35,969 5,709 Inger Berg Ørstavik 35,969 5,709 Terje Osmundsen 35,969 5,709 Total period April 27, 2018 – May 9, 2019 207,822 22,838 Compensation of the Board of Directors paid in 2018 (AMOUNTS IN USD) NAME BOARD COMPENSATION COMPENSATION FOR COMMITTEES Jens Ullveit-Moe 62,894 0 Espen Klitzing 37,736 6,289 RagnhildWiborg 37,736 6,289 Inger Berg Ørstavik 37,736 6,289 Terje Osmundsen 37,736 6,289 Total period May 3, 2017 – April 26, 2018 213,838 25,157 LOANS AND GUARANTEES FOR GROUP MANAGEMENT, BOARD OF DIRECTORS AND SHAREHOLDERS At December 31, 2019 and 2018 there were no outstanding loans or guarantees to members of GroupManagement, Board members or shareholders or their closely related parties. SHAREHOLDINGS, OPTIONS AND BONDS The number of shares and options owned by members of the Board of Directors and the GroupManagement, including closely related parties, are shown in the table below. The table includes board members and key management at December 31, 2019 and 2018. Refer to note 32 for details of the share option program.