IC Companys – Annual Report 2008/09 0 - IC Companys A/S

5. Staff costs
DKK million 2008/09 2007/08
Salaries, wages and remuneration etc. can be specified as follows:
Remuneration to the Board of Directors 1.8 1.7
Salaries, wages and remuneration 781.3 772.1
Defined contribution plans, cf. note 20 34.6 33.3
Defined benefit plans, cf. note 20 0.7 2.1
Other social security costs 73.5 69.8
Share-based payment 3.5 6.2
Other staff costs 32.7 46.0
Total 928.1 931.2
Average number of employees 2,408 2,365
Remuneration of Board of Directors, Executive Board and other executives:
Group
DKK million
Board of Directors
2008/09 2007/08
Executive
Board
Other executives
Board of Directors
Group
Executive
Board
Other executives
Remuneration to the Board of Directors 1.7 - - 1.7 - -
Remuneration to the Audit comittee 0.1 - - - - -
Salaries, wages and emoluments - 12.4 0.5 - 7.3 5.1
Severance payment - - 2.1 - 12.9
Pension contribution - - - - 0.7
Share-based payment - 1.4 (0.7) - (0.2)
Total 1.8 13.8 1.9 1.7 20.7 7.3
The members of the Executive Board and a number of other executives are included in a bonus plan the payments
of which are related to the financial performance of the employee’s own area of responsibility. The bonus
potential is in the range of 20-30% of the annual salary. The bonus plan is based on profits achieved in the individual
financial year, which helps ensure that the Group’s growth targets are met.
Remuneration policy
The Board ensures that the individual remuneration of the members of the Executive Board reflects their performance
and the value added to the company. The remuneration paid to the members of the Executive Board
consists of a cash salary, an annual bonus, a company car, stock option plans, and the usual other benefits. The
overall composition of the Executive Board’s remuneration is in general expected to be unchanged for 2009/10
where the remuneration policy will be applied as in 2008/09.
If the employment of a member of the Executive Board is terminated by the Company before reaching retirement
age, the Company shall pay his salary during the period of notice, which is 12 months.
Stock option programme
Stock option grants
Stock option granted this year
The Board of Directors has granted the Group’s Executive Brand Officer 30,000 stock options.
Each stock option entitles the holder to acquire one existing share of DKK 10 nominal value in the Company. The
stock option plan entitles the holders to buy 0.2% of the share capital if all stock options are exercised.
The stock options granted give admittance to – in immediate continuation of the company’s release of the
Annual Report for 2008/09, 2009/10 and 2010/11 – against payment in cash – to buy 10,000 shares annually.
The stock options were issued at an exercise price equivalent to DKK 163.0 with an additional 5% per annum calculated
from 9 September 2008. Stock options unexercised for one year can be exercised the following two years.
The stock options shall lapse at the discontinuation of employment.
The stock options can only be settled in shares. Part of the company’s treasury shares is reserved for settlement
of the options granted.
In the financial year 2008/09, the Board of Directors has also granted the Group’s Executive Sales Officer 30,000
stock options.
IC Companys – Årsrapport 2008/09
55
1.0
-
1.2