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NKT is committed to attracting and retaining highly qualified employees and to creating a link between individual performance and company profits. We therefore operate both bonus schemes and share-based schemes which reward profit growth.
The share-based schemes are based on value creation for NKT shareholders in the form of higher share prices. The principles most recently applied in allocating share warrants were as follows:
The value increase must be 8% p.a. - corresponding to an internal Weighted Average Cost of Capital (WACC) - before the scheme can generate value for the recipient for redemption three, four or five years after issue.
The scheme is forfeited in the event of resignation by the recipient. For the Executive Director the value of the allotment may comprise a maximum of 25% of the fixed annual remuneration (base salary plus pension contributions). For other employees, the aggregate variable pay element (bonus scheme and value of allotted share warrants) may comprise a maximum of 25% of their fixed annual remuneration.
The allocation must not constitute more than 0.75% of the share capital per annum.