Remuneration

The Board of Directors’ evaluation of compensation of senior executives of Axis AB (publ)

Axis’ compensation of senior executives is established in the guidelines that are decided on each year by the Annual General Meeting. The objective of Axis’ remuneration policy for the senior executives is to offer compensation that promotes retaining and recruiting skilled expertise to the company. To monitor this, the Board has established a Remuneration Committee.

The remunerations committee’s statement regarding remuneration matters etc.

Following the annual general meeting on 13 April 2016, the board of directors established a remuneration committee composed of Biörn Riese (chair) and Bert Nordberg. During the period between the annual general meetings on 15 June 2015 and 13 April 2016, the board in its entirety fulfilled the tasks of the remuneration committee.

During the year, the remuneration committee advised the board of its recommendations in respect of principles for remuneration of senior executives. The recommendations covered the proportions between fixed salary and variable remuneration, and the size of any salary increases. The remuneration committee also proposed criteria for assessing bonus outcomes etc. The board discussed the remuneration committee’s proposals, and reached decisions in line with the committee’s recommendations.

During the period following the annual general meeting 2016 the remuneration committee has further monitored and evaluated programs for variable remuneration to company management, both ongoing and those that have ended during the year.

The remuneration committee’s assessment is that Axis’ remuneration structures and levels are appropriate and entail a reasonable balance between the objective of motivating and rewarding employees and maintained cost efficiency.

The remuneration committee has communicated to the board its recommendations on principles for determining salaries and other remuneration to the company management. The recommendations included the division between fixed and variable salary as well as the proportion of any salary increases. The remuneration committee also proposed criteria for the assessment of bonus outcome etc. The board has discussed the remuneration committee’s proposals and has made resolutions based on the committee’s recommendations.