Hydro Annual Report 2011b

Amounts in NOK million Audit
Audit
related
FINANCIAL STATEMENTS
Note 43 - Auditor remuneration F61
Other
services
Tax
related Total
KPMG 2011
Norway 10 1 1 ­ 12
Outside Norway 14 1 ­ ­ 15
Total 24 2 1 ­ 28
KPMG 2010
Norway 5 ­ ­ ­ 5
Outside Norway 9 ­ ­ 1 10
Total 14 ­ ­ 1 15
Deloitte 2010
Norway 4 3 1 1 8
Outside Norway 9 ­ ­ 1 11
Total 13 3 1 1 18
Note 44 - Board of Directors and Corporate Assembly
Board of Directors' remuneration and share ownership
Normally, the remuneration to the Board of Directors consists of the payment of fees. In addition, board members receive a
gift when leaving the board. Board members do not have any incentive or share-based compensation. Hydro has not made any
guarantees on behalf of any of the board members. The only board members with loans are the employee-elected members of
the board.
Fees are based on the position of the board members and board committee assignments. Annual fees for 2011 for the
chairperson of the board, deputy chairperson and directors are NOK 550,000 (2010: NOK 530,000), NOK 345,000 (2010:
NOK 330,000) and NOK 300,000 (2010: NOK 290,000), respectively. The chairperson of the audit committee and the
chairperson of the compensation committee receive an additional NOK 175,000 (2010: NOK 170,000) and NOK 31,000
(2010: NOK 30,000) annually in fees, respectively, and audit and compensation committee members receive NOK 113,500
(2010: NOK 110,000) and NOK 26,000 (2010: NOK 25,000) annually, respectively, for their participation on these
committees.
Total board fees and individual board member fees for 2011, and outstanding loans and board member share ownership as of
December 31, 2011, are presented in the tables below. Board fees for extraordinary meetings held during 2008 were paid in
2010.
Board of Directors' fees
Amounts in NOK thousand 2011 2010
Fees and other remuneration paid to board members during the year 3 824 3 956
Fees paid in prior year for service rendered in current year 24 ­
Fees paid during the year for service rendered in other years (16) (579)
Fees related to board service during the year not yet paid ­ 7
Total fees for board services provided to Hydro during the year 3 832 3 384
Fees and other remuneration ­ normal board activities 3 245 2 841
Fees ­ compensation committee 109 80
Fees ­ audit committee 478 463
Total fees for board services provided to Hydro during the year 3 832 3 384