Saab 2014 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2014 Saab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 142

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142

Consultant fees to Board Members
In special cases Saab AB’s shareholder-elected
Board Members may receive a fee for services
performed within their respective areas of exper-
tise, separately from their Board duties and for a
limited period of time. Compensation for these
services shall be paid at market terms.
INFORMATION IN THE ANNUAL REPORT
NOTE 37
Note 37 of the Annual Report includes a descrip-
tion of existing remuneration for senior executives,
including xed and variable compensation, long-
term incentive programmes and other benets.
INCENTIVE PROGRAMMES PROPOSED
TO THE ANNUAL GENERAL MEETING 2014
e Board of Directors proposed that the Annual
General Meeting 2014 resolve to adopt a long-term
incentive programme 2014 consisting of a Share
Matching Plan and Performance Share Plan. e
Annual General Meeting resolved in accordance
with the Board’s proposal.
BOARD OF DIRECTORS PROPOSAL FOR GUI-
DELINES FOR REMUNERATION AND OTHER
TERMS OF EMPLOYMENT FOR
SENIOR EXECUTIVES, APPLICABLE AS OF
THE ANNUAL GENERAL MEETING 2015
e Remuneration Committee has evaluated the
remuneration for Saab AB senior executives, inclu-
ding variable remuneration, the application of the
remuneration guidelines and other employment
terms for senior executives resolved at the Annual
General Meeting 2014, and the current remunera-
tion structures and remuneration levels in the
company.
e Remuneration Committee has recommen-
ded that the Board of Directors propose that the
Annual General Meeting approve remuneration
guidelines with terms and conditions identical to
those that were adopted by the Annual General
Meeting 2014. In light of the above, the Board of
Directors proposes that the Annual General Mee-
ting 2015 adopt guidelines for remuneration and
other terms of employment for senior executives
with terms and conditions identical to those resol-
ved at the Annual General Meeting 2014; see above.
INCENTIVE PROGRAMMES PROPOSED
TO THE ANNUAL GENERAL MEETING 2015
e Board of Directors propose that the Annual
General Meeting resolve to adopt a long-term
incentive programme 2015 consisting of two parts:
Share Matching Plan 2015 and Performance Share
Plan 2015. e terms and estimated costs for Share
Matching Plan 2015 and Performance Share Plan
2015 are presented in the Board of Director’s com-
plete proposal to the Annual General Meeting.
SAAB’S LONG-TERM INCENTIVE
PROGRAMMES AND AUTHORISATION
TO REPURCHASE SHARES
In April 2007, Saab’s Annual General Meeting
resolved to oer permanent employees the oppor-
tunity to participate in a voluntary share matching
plan under which they can purchase Saab Series B
shares on Nasdaq Stockholm over a 12-month
period. Purchases are made through deductions of
between 1 and 5 per cent of the employee’s
monthly salary. If the employee retains the purcha-
sed shares for three years aer the investment date
and is still employed by the Saab Group, the
employee will be allotted a corresponding number
of Series B shares free of charge. e plan was intro-
duced in autumn 2007 in Sweden and Norway. In
2008, it was expanded to include employees in
Denmark, Germany, the UK, the US, Switzerland
and Australia. South Africa was included in 2009,
Finland in 2010, Czech Republic in 2011, India in
2012, and ailand, Holland and Canada in 2013
In April 2008, Saab’s Annual General Meeting
resolved to introduce a performance-based plan
for senior executives and key employees entitling
them to 2–5 matching shares depending on the
category to which the employee belongs. In addi-
tion to the requirement that the employee remain
employed by Saab aer three years, earnings per
share must grow by an annual average of 5 to 15
per cent during the three-year period. Participants
in this programme may allocate a maximum of 7.5
per cent of their xed gross salary to purchase Saab
Series B shares. e Annual General Meetings
held from 2009–2013 resolved to renew the Share
Matching Plan and Performance Share Plan. As of
2011 the Share Matching Plan covers all employees,
including senior executives and key persons. e
ADMINISTRATION REPORT
OTHER INFORMATION
64 – SAAB ANNUAL REPORT 2014