The CEO is currently entitled to an annual fixed salary of SEK 4,200,000. Moreover, the CEO is also entitled to a monthly pension premium equal to 35 per cent of his monthly fixed salary. Provided that certain financial targets set by the Board are met, the CEO may also receive a bonus. The financial targets are set yearly for the coming financial year. Pursuant to the current employment agreements for the CEO, the bonus may not exceed 75 per cent of the fixed annual salary.
There is a notice period for the CEO of 12 months in case of termination of employment by the company. A notice period of six months applies in case of termination of employment by the CEO. In case of termination of employment by the company, and if the CEO has been employed at the company for at least 12 months, there is also the right to remuneration corresponding to six monthly salaries.
If, during the notice period, the CEO receives any new income earned in a new employment, this income will be set off against the income from Byggfakta during the notice period. The CEO is not entitled to any severance pay if the employee terminates their employment.
Furthermore, the employment agreement includes a non-compete undertaking with a duration of nine months after the termination of employment, a non-solicitation of customers undertaking with legal force until nine months after the termination of employment and a non-solicitation of employees undertaking with legal force until nine months after the termination of employment. As compensation for the non-compete restriction, the CEO would be entitled to remuneration corresponding to the difference between the salary offered by the new employment opportunity and the salary from employment with Byggfakta (calculated on the basis both of fixed salary and of variable remuneration). However, this remuneration may not exceed 60 per cent of the average monthly remuneration from Byggfakta.
For the other senior executives, the notice period is between six and twelve months in case of termination of employment by Byggfakta Group and between three and twelve months in case of termination of employment by the senior management executives. No senior management executive is entitled to severance pay in connection with termination of employment.
Pension benefits are either defined benefit or defined contribution based and must be in accordance with the levels, practice and collective bargaining agreements applicable in the country where the relevant senior management executive is employed.