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11. Remuneration of the Board of Directors

All remuneration of the Board of Directors is disclosed in Note 5 to Orkla ASA’s financial statements. 

Remuneration of the Board of Directors and Board members’ shareholdings

As from 17 April 2016, the Board of Directors is remunerated at the following rates:

 Chairman of the board  NOK 700,000 per year
 Deputy chair   NOK 545,000 per year
 Board member  NOK 410,000 per year
   
 Observer  NOK 156,000 per year
 Deputy member  NOK 26,500 per meeting
   
Compensation Committee  
Committee Chair NOK 134,000 per year
Member NOK 100,000 per year
   
Audit Committee  
Committee Chair NOK 168,000 per year
Member NOK 112,000 per year

In addition, shareholder-elected Board members residing outside Norway receive an additional NOK 16,500 per meeting attended.

Payments actually received by members of the Board of Directors are as follows:

Amounts in NOK Directors' fee incl.
committee work
Number
of shares1
Shareholder-elected Board members    
Stein Erik Hagen   792 666 249 142 000
Grace Reksten Skaugen   673 000 3 000
Ingrid Jonasson Blank  567 166  1 750
Lisbeth Valther   456 166 3 000
Nils K. Selte   573 333 18 000
Lars Dahlgren   456 166 2 000
     
Employee-elected Board members    
Terje Utstrand   See table below 5 240
Roger Vangen   See table below 7 014
Sverre Josvanger  See table below 18 053
Karin Hansson  See table below 487

1Total share ownership including related parties

Amounts in 1,000 NOK Fixed
salary
Director’s
fee
Benefits
in kind
Pension
costs
Employee-elected Board members        
Terje Utstrand     554 872 506 000 29 747 26 779
Roger Vangen     544 869 307 944 36 929 23 561
Sverre Josvanger     507 708 517 666 113 080 21 901
Karin Hansson (salary in SEK) 396 410 307 500 - 17 155

No loans have been granted to or guarantees provided for members of the Board of Directors.

Remuneration of the Nomination Committee

As from 17 April 2016, the Nomination Committee is remunerated according to the following rates:

Committee Chair NOK 60,000 per year, members NOK 44,000 per year and employee-elected representatives NOK 5,500 per meeting.