The personnel bonus program
A bonus agreement for personnel with effect from fiscal year 2009 to personnel bonuses are decided by the Board, consisting of all SENSYS personnel who do not have separate bonus arrangements with the company.
Bonus Provision
In 2009 the agreement governing bonuses for the company’s staff was adjusted. Under the adjusted agreement, staff are entitled to a bonus defined as the lower of:
- (i) 5 percent of net earnings in the bonus year, subject to a limit of SEK 3 million
- (ii) 2 monthly salaries for bonus-entitled staff at the end of the bonus year.
Bonus program for the CEO and management team
A bonus agreement for the Chief Executive Officer was established in 2008. The variable salary is based in equal part on the company’s pre-tax profit and orders received throughout the year, and may amount to a maximum of SEK 888 thousand per annum. In 2008, a provision was made for a bonus of SEK 149 thousand to be paid to the Chief Executive Officer. The full amount of this bonus was paid in April 2009. In 2009 a corresponding bonus agreement was drawn up for the management team, providing for a bonus of up to SEK 2 million for the management team.
No provision for bonuses was made in 2009.