Remuneration committee

The overarching objects of the Remuneration Committee are to make proposals for TK Development’s remuneration policy and the individual remuneration payable to the Board of Directors and Executive Board.

In addition to making proposals for TK Development’s remuneration policy, including the general guidelines for incentive pay to the Board of Directors and Executive Board, and submitting them for approval by the entire Board of Directors prior to approval at the General Meeting, the Remuneration Committee is tasked with making proposals to the Board of Directors on the remuneration payable to the Board of Directors and Executive Board and ensuring that such remuneration is in accordance with the remuneration policy and reflects the relevant member’s efforts. The Remuneration Committee also oversees that the information in the Annual Report on the remuneration of the Board of Directors and Executive Board is correct, true and sufficient.

The Remuneration Committee meets as and when required, but at least once a year, and prepares proposals to be considered and decided by the Board of Directors.

Members: Peter Thorsen (Chairman), Henrik Heideby and Michael Bruhn.

All members are independant, thus complying with the Recommendations of Corporate Governance.

For a more detailed description, please see the terms of reference of the Remuneration Committee.