To highlight the shared interests between shareholders, the executive team and other managers and to create a working environment focusing on meeting the Group’s targets, IC Group has set up bonus schemes and long-term incentive programmes.
Severance agreements for members of the executive team and other executives include a notice period of twelve to eighteen months.
As set out in the Group’s Corporate Governance guidelines, incentive pay is offered to the members of the executive team and other managers in the form of bonus schemes and long-term incentive programmes, whereas no such schemes and programmes are offered to the members of the Board of Directors.
The executive team and a number of other managers are comprised by a bonus programme based on the financial results achieved within the area of responsibility of the relevant executive. The scope of the bonus is 10% to 50% of the annual salary of the individual executive. The bonus programme is based on the results achieved in the individual financial year and helps ensure that the Group’s performance targets are met. Full bonuses are only paid if the Group’s performance targets are met.
The Group has granted warrants and share options to a number of executives and key employees in previous financial years. For further information, see the Group’s annual reports that can be found here.