The board determines the chief executive’s remuneration and establishes the framework for adjustments to the pay of other employees. Pay adjustments for each employee are then determined administratively within the limits set. The board carries out a broadly-based comparison with pay conditions in other Norwegian shipping companies, and gives weight to the general level of pay adjustments in Norway.

A bonus scheme has been instituted by the board for group employees in Norway. Certain subsidiaries have different arrangements. Intended to reinforce the focus on performance and results, the bonus scheme is based on the annual return on capital employed by the group and three predefined key performance indicators. A minimum of 75% of the goal must be met by each team. The board determines the annual norm for the bonus scheme.

The annual general meeting in 2007 approved the continuation of an option programme with a rather different content than the earlier option scheme. Under the 2007 arrangement, senior personnel are awarded options whose value is linked to the share price at the vesting date.

It has also been resolved that one-third of any gain before tax has to be applied to the purchase of WW A shares, which must be held by the purchaser for a minimum of three years. No entitled employee has so far exercised their option rights, since the listed share price has at all times been lower than the price at the vesting date.