Item 18: Resolution regarding guidelines for remuneration for Senior Executives
Rationale:
Folketrygdfondet’s decision to vote against the remuneration policy is based on a cumulative assessment of the following elements. The remuneration policy includes a retention award for two executives for an undisclosed amount. The proposal also opens for discretionary bonuses, with few disclosures on performance criteria. Lastly, we note that the policy does not provide for clawbacks or include performance measurements relative to peers.