Remuneration

The Chairman of the Board has not received any other remuneration aside from his director’s fee. A fee of SEK 175,000 (175,000) was paid to each of the other Board members. Thus, fees totalling SEK 1,400,000 (1,400,000) were paid to the Board members elected by the AGM, in accordance with the decision of the 2009 AGM. The AGM further decided that Audit Committee Chairman Heinrich Blauert should receive an extra fee of SEK 50,000 (50,000), Audit Committee member Jack Forsgren should receive SEK 25,000 (25,000), and Compensation Committee Chairman Jack Forsgren should receive SEK 25,000 (25,000). Fees totalling SEK 110,000 (110,000) were paid to the employee representatives on the Board). Thus, the total fees paid to the Board members amounted to SEK 1,885,000 (1,885,000).

Bonus for the MD, the Group’s CFO and the head of business development (up until 31 August 2009) is based on the Group’s profit. Bonus for the MD of Bilia

Personbilar AB and the MD of Bilia Personbil is based on the Group’s profit (20 per cent) and the profits of the individual subsidiaries (80 percent). The MD’s bonus for 2009 is maximised at SEK 2,000,000 (2,000,000). The bonus for the rest of the management is maximised at 25–35 per cent of basic salary plus an additional amount for individual goals. “Other benefits” pertains mainly to company cars.

Defined-contribution pension

A new agreement on pension benefits is in effect for the MD as from 1 April 2009.

Retirement pension premium is paid in the amount of 10 base amounts per year.

Additional pension premium is paid in the amount of 30 per cent of the fixed salary less what has been paid in retirement pension premium as specified above.

Survivors’ pension is paid in an amount corresponding to the value of the insurance at the relevant final date.

The above premiums will be paid as long as Jan Pettersson is employed as Managing Director of the company, but not longer until June 2011.

The pension benefits specified in the annual report for 2008 were payable up to 31 March 2009.

Pension for the Group’s CFO becomes payable at the age of 60 years. The pension agreement states that his pension premium shall amount to 28 per cent of his fixed salary. By “fixed salary” is meant monthly salary multiplied by 12.2. Pension is payable in an amount corresponding to the value of the insurance at 60 years. The MD of Bilia Personbilar AB has a pension agreement with a pension premium amounting to 10 per cent of his fixed salary.

Pension premium for supplementary old-age pension (65 years) is paid for the two persons in the Group Management who are employed in Sweden in an amount corresponding to 20 per cent of their pensionable salary in excess of 30 income base amounts. Pensionable salary includes fixed salary plus an average of the past three years’ bonuses. The size of the pension is based on the pension capital at retirement.

Severance pay

The employment contracts of the MD and other members of the Group Management contain special rules governing termination by the company. Four of the senior officers are entitled to 24 months’ salary, less any salary received by the employee from other service during the past 12 months. One of the senior officers has a consultancy agreement that expires on 31 December 2010.

In the event of significant changes in the company’s ownership structure that affect the premises or content of their jobs, the MD and certain top executives in the Group are entitled to terminate their own employment with the right to 24 months’ salary, less any salary received by the employee from other service during the past 12 months.

For information on post-employment employee benefits and equity compensation benefits, see Note 25 “Pensions” and Note 34 “Related parties”.

Profit-sharing system for employees
in the Bilia Group’s Nordic operations

In view of the harsh economic situation at the start of 2009, it was decided to abstain from a general profit-sharing system for 2009.

A total of SEK — M (9), including payroll overhead, was allocated in the annual accounts for 2009 to cover profit shares for employees in the Nordic countries.