REC Silicon Annual Report 2019

89 Notes to the financial statements, REC Silicon ASA REC Silicon Annual Report 2019 EMPLOYEE BENEFITS Employee benefit expenses (USD INTHOUSAND) 2019 2018 Payroll -342 -389 Social security tax -49 -55 Pension expense including social security tax -11 -12 Other employee related costs -2 -4 Employee benefit expenses -405 -461 The average number of employees measured in man-years was 1 during 2019 and 2018. There were no loans or guarantees to employees at December 31, 2019 and 2018. Payroll includes compensation to Board of Directors. For compensation and shareholdings for Group management and Board of Directors see note 16 to the consolidated financial statements. PENSION PLANS At December 31, 2019 the Company maintained a defined contribution pension plan for employees that fulfill the requirements of Norwegian law: “Lov om obligatorisk tjenestepensjon”. H