In 2012, the Compensation Committee held three meetings at which minutes were taken.

The Committee consists of Sverker Martin-Löf (Chairman), John Tulloch and Lars Westerberg. The President is a co-opted member of the Committee but does not participate in discussions concerning his own salary and employment terms and conditions.

The Company currently has no share or share-price related incentive program. For a further description of the employment terms for the Board and the Group’s senior executives, see Note 2 in the Annual Report 2012.