3 DSV Panalpina Remuneration Report 2020 Board of Directors Board of Directors Basis of remuneration Board and Committee fees Members of the Board of Directors are remunerated for services rendered as Chairman, Deputy Chairman or Member of the Board and the Audit, Remuneration or Nomination Committee. Remuneration of each member is based on Board and Committee positions held, as illustrated in the following table: (DKKt) Board Committees: – Audit – Nomination – Remuneration Chairman 1,500 500 250 250 Deputy Chairman 750 n.a. n.a. n.a. Member 500 250 125 125 Any changes to the base fee or multiplier must be approved by the Annual General Meeting. Other remuneration In addition to the ordinary Board and Committee fees, members may be remunerated for ad-hoc tasks carried out outside the scope of their normal Board and Committees work. Remuneration of members does not include incentives such as cash bonuses or share-based payment in any form. Remuneration 2020 Total remuneration of the Board of Directors amounted to DKK 6,904 thousand in 2020 (2019: DKK 6,076 thousand), an increase of 13.6% compared to last year. The increase was mainly due to an adjustment of the base fee to DKK 500 thousand, up from DKK 450 thousand. The adjustment was made to align Board remuneration with our peers, as the base fee had not been adjusted since 2017. No members have been remunerated for additional ad-hoc tasks performed in 2020. Fees for the individual Board and Committee positions are determined in accordance with the DSV Panalpina Remuneration Policy by applying a varying multiplier of a base fee of DKK 500 thousand (2019: DKK 450 thousand). The multiplier takes into consideration the work and responsibilities associated with each position. The base fee is assessed on a yearly basis to ensure that remuneration of the Board of Directors is on par with other corporations of similar size and complexity. The assessment is addressed by the Remuneration Committee based on publicly available peer group remuneration analyses. Board composition Thomas Plenborg Jørgen Møller Annette Sadolin Birgit W. Nørgaard Marie-Louise Aamund Beat R. Walti Niels Smedegaard Board of Directors Chairman Deputy Chairman Member Member Member Member Member 3-year remuneration overview Detailed 3- year overview of remuneration components for current and former members of the Board is presented in the Appendix, page 6. Total fee Board of Directors (DKKt) 10,000 8,000 6,000 4,000 2,000 0 2018 Board fee Committee fee Board members 2019 Number 10 8 6 4 2 0 2020 Audit Committe Member – Chairman – Member – Member Nomination Committee Chairman Member – Member – – – Remuneration Committee Chairman Member – – – Member –
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