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NOTE 5
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SALARIES AND REMUNERATIONS
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NOK 1 000
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2013
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2012
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Salaries
|
107 099
|
123 145
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Social security tax
|
17 464
|
16 770
|
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Pension costs (note 15)
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- 25 478
|
4 397
|
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Other benefits
|
2 227
|
3 359
|
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Total
|
101 312
|
147 671
|
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Average number of man-labour years
|
39
|
43
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Salary and remuneration to Group CEO
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NOK 1 000
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Salary
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Bonus
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Benefits in kind
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Pension
|
|
John Giverholt
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3 287
|
2 297
|
234
|
1 218
|
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The Group CEO's bonus agreement is limited to an annual salary. Bonus is based on achieved results in the Group.
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The Group CEO participates in Ferd's collective pension schemes for salaries below 12 G and is thereby entitled to a defined benefit pension. From 2014, this scheme is replaced by a contribution scheme (cf. note 15). The Group CEO also has a benefit scheme for a pension basis higher than 12 G, but with an upper limit of appr. MNOK 2,2, together with an early retirement pension scheme giving him the opportunity to retire at 65 years.
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The Group CEO is entitled to 9 months pay after termination of employment is he has to resign from his position.
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Ferd AS has a receivable on the CEO of NOK 600 000, which is subject to interest on market based terms. Ferd AS has adequate security for this loan. The loan has no defined instalment plan.
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Fees to the Board
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No specific fees have been paid for board positions in Ferd AS.
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