English version - Hexagon Composites ASA

COMROD COMMUNICATION ASA – LISTING ON THE OSLO STOCK EXCHANGE
8.7.2 Service contracts
None of the board members are entitled to any severance payment upon termination or expiration of
their service.
There is no severance program for the employees apart from the normal terms of notice and what is
mentioned under 8.6.3.
8.7.3 Board committees
The Company shall have a nominating committee to be elected at the Annual General Meeting. The
Company’s nomination committee shall consist of three members, one of whom shall be a board
member.
The task of the Nomination Committee is to propose candidates for election as members of the Board
of Directors and to make recommendations regarding the remuneration of the members of the Board
of Directors.
There are no other board committees.
8.8 Employees
As of the date of the Prospectus the Company has 166 employees, 81 of whom were employed at the
Company’s head office in Tau, Norway. 85 of the Company’s employees were located abroad. See
section 5.2 for more details.
8.9 Financial reporting and IR
The operating responsibility for the finance function will be handled by the Company’s Finance
Manager, Ms. Kari Duestad. The Company has also entered into an agreement with Hexagon
regarding the assistance with financial reporting. This will include the consolidation of figures on a
group level, and assistance with the annual reports and interim reports. See section 8.10 for more
information regarding this agreement.
Ms. Kari Duestad, will be day-to-day responsible for the handling of Investor Relations (“IR”). In
addition, Hexagon’s CFO, Mr. Dag Olav Tennfjord, will advice the Company on overall IR issues,
e.g. IR policy in general, use of the internet, webcasts, roadshows, etc. The Company will thereby be
in a position to draw on Hexagon’s expertise in IR matters.
8.10 Related Party Transactions
The Company has entered into an agreement to purchase administrative services from Hexagon. These
services will mainly be related to assistance with the financial reporting and IR.
The background for this agreement is to ensure that Comrod can benefit from the expertise within
Hexagon during the first phase as a listed company. See also section 8.8 for more details regarding this
agreement.
The above mentioned management agreement has been entered into as part of the Company’s ordinary
operations and at arms length terms. The agreement has been entered into at market terms and can be
terminated at one months notice.
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