Norwegian Code of Practise:

• The remuneration of the board of directors should reflect the board's responsibility, expertise, time commitment and the complexity of the company's activities.
• The remuneration of the board of directors should not be linked to the company's performance. The company should not grant share options to members of its board.
• Members of the board of directors and/or companies with which they are associated should not take on specific assignments for the company in addition to their appointment as a member of the board. If they do nonetheless take on such assignments this should be disclosed to the full board. The remuneration for such additional duties should be approved by the board.
• The annual report should provide information on all remuneration paid to each member of the board of directors. Any remuneration in addition to normal directors' fees should be specifically identified.

The General Meeting stipulates the Board's remuneration each year. The proposal for remuneration is made by the chair of the Nominating Committee. For 2008, total compensation to the Board added up to NOK 1 436 334. The remuneration breaks down as follows: Chair of the Board of Directors NOK 330 667, deputy chair NOK 175 667, and the other directors NOK 155 000.

In addition, the members of the Audit Committee receive NOK 7 350 per meeting, up to a maximum of NOK 36 750 per year. The committee's chair receives NOK 8 400 per meeting, up to a maximum of NOK 42 000 per year. The members of the Compensation Committee receive NOK 5 250 per meeting, up to a maximum of NOK 26 250 per year. The committee's chair receives NOK 6 300 per meeting, up to a maximum of NOK 31 500 per year.

The directors' fees are not linked to performance, option programmes or the like. None of the Board's shareholder-elected directors work for the company outside their directorships, and none of them have agreements with the company for pension plans or severance pay.

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