Annual Report 2011 - Kongsberg Maritime - Kongsberg Gruppen

Shares owned by, and compensation to the members of the Board of Directors
The Board of Directors Year
Number of
shares 1)
Fixed
compensation
to
the Board
of Directors
Compensation
for
committee
meetings
Total
compensation
to
the Board
of Directors
Number
of Board
meetings 2)
Finn Jebsen, Chairman of the Board 2011 20 000 (through the company Fateburet AS) 372 667 28 550 401 217 11
2010 20 000 (through the company Fateburet AS) 359 333 20 550 379 883 8
Erik Must1) 2011 524 600 (personally owned through the
186 667 23 800 210 467 11
, member the Board
company Must Invest AS)
2010 524 600 (personally owned through the
company Must Invest AS)
177 500 17 150 194 650 8
John Giverholt, member the Board 2011 3 200 186 667 48 000 234 667 11
Anne-Lise Aukner, member the Board,
Deputy Chariman of the Board from
2010 3 200 177 500 46 500 224 000 8
1 May 2011 2011 - 198 667 42 000 240 667 8
2010 - 177 500 39 700 217 200 6
Kai Johansen, member the Board 2011 - 186 667 42 000 228 667 11
Roar Marthiniussen, member the
2010 - 177 500 40 050 217 550 7
Board 2011 4 268 186 667 23 800 210 467 11
2010 4 026 177 500 17 150 194 650 8
Helge Lintvedt, member the Board 2011 - 186 667 0 186 667 11
Irene Waage Basili, member the Board
2010 - 177 500 0 177 500 8
from 1 May 2011 2011 - 126 000 0 126 000 8
Benedicte Berg Schilbred, Deputy
Chariman of the Board until
30 April 2011 2011 - 66 667 0 66 667 3
2010 70 000 (through the company Odd Berg AS) 195 333 0 195 333 8
Total compensation to the Board 2011 1 697 336 208 150 1 905 486
Total compensation to the Board 2010 1 619 666 181 100 1 800 766
1) Erik Must is the Chairmain of the Board of Arendals Fossekompani ASA, which owns 9 552 796 shares in Kongsberg Gruppen.
2) There were held 11 Board meetings in 2011 (8 in 2010).
Transactions between related parties
The Norwegian State as the largest owner
The Norwegian State as represented by the Ministry of Trade and
Industry is KONGSBERG’s largest owner (50.001 per cent of the shares
in Kongsberg Gruppen ASA). The State as representative of the Ministry
of Defence is an important customer for the Group. Sales to the Armed
Forces are regulated by the EEA agreement and the Procurement
Regulations for the Armed Forces, which guarantee equal treatment for
all vendors. At 31 December 2011 KONGSBERG had an outstanding
balance from State-owned customers of MNOK 46, while other liability
items in respect of state suppliers accounted for MNOK 0.6 at
31 December 2011. In 2011 KONGSBERG invoiced state customers of
MNOK 1 096. Goods and services acquired from state suppliers in 2011
accounted for MNOK 21.
In 2010, an agreement was signed with the Ministry of Trade and
Industry regarding a State guarantee in connection with building the
composite plant. The guarantee has been furnished in case the
Norwegian authorities decide not to procure fighter aircraft. The frame
of the guarantee is for MNOK 737, with a counter-guarantee of MNOK
240 to cover any repurchase of property, plant and equipment.
2 INTRODUCTION
7 DIRECTORS’ REPORT AND
18 FINANCIAL STATEMENTS
64 CORPORATE GOVERNANCE
76 FINANCIAL CALENDAR AND ADDRESSES
KONGSBERG Annual Report 2011 51