NOTE 5
SALARIES AND REMUNERATIONS
         
NOK 1 000
2012
2011
 
Salaries
123 145
93 173
 
Social security tax
16 770
12 998
 
Pension costs (note 15)
4 667
11 616
 
Other benefits
3 359
3 657
 
Total
147 941
121 444
 
         
Average number of man-labour years
45
 
         
         
Salary and remuneration to Group CEO
   
NOK 1 000
Salary
Bonus
Benefits in kind
Pension
John Giverholt
2 626
0
202
911
         
The Group CEO's bonus agreement is limited to an annual salary. Bonus is based on achieved results in the Group.
         
The Group CEO participates in Ferd's collective pension schemes and is thereby entitled to a defined benefit pension. He also has an additional arrangement for a penson basis higher than 12 G and and an early retirement pension scheme giving him the opportunity to retire at the age 65.
         
The Group CEO is entitled to 9 months pay after termination of employment is he has to resign from his position.
         
Ferd AS has a receivable on the CEO of NOK 600 000, which is subject to interest on market based terms. The loan has no defined instalment plan.
         
Fees to the Board
No specific fees have been paid for board positions in Ferd AS.
Ferd

Strandveien 50
1324 Lysaker

Postboks 34
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Phone 67 10 80 00
Fax 67 10 80 01

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