According to Icelandair Group´s Remuneration Policy, remuneration to the members of the Board of Directors and members of the Board’s Sub-Committees shall be based on the time spent by directors on the job and the responsibility carried with the role. When determining on remuneration to the directors of the Board, consideration shall be given to the remuneration paid to board directors of comparable companies. The directors of the Board are not remunerated in shares, purchase or put options, pre-emptive rights, warrants or any other payments related to shares in the company or the share price development in the company.
The Remuneration Committee reevaluates the payments to the directors of the Board annually and looks at, among other things, wage development within Icelandair and development of the general wage index as well as the Company's overall performance. Proposals of the Remuneration Committee on the remuneration of the directors of the Board and its sub-committees, and any changes in the Remuneration Policy, are submitted to the Board of Directors which subsequently submit a proposal for shareholders´ vote at the Annual General Meeting.
The Remuneration Committee proposes no changes to the current Remuneration Policy. Furthermore, it is proposed that remuneration to the members of the Board of Directors remain the same as for the previous year.
Remuneration Committee Members
- Úlfar Steindórsson, Chairman
- Ómar Benediktsson