The term other senior officers refers to the seven other persons in addition to the CEO that make up Peab’s executive management.
Salary and other remuneration including benefits for other senior officers amounted to SEK 21,634 thousand (17,282). In addition, Short-term incentives for 2019 amounted to SEK 8,099 thousand (5,412) and provisions for the LTI program amounted to SEK 4,411 thousand (3,014), which will be placed in pension savings in a financial instrument connected to the Peab share. Pension contributions paid for other senior officers amounted to SEK 8,808 thousand (6,999) during the year.
The pension policy for senior officers means that pension contributions are based on a contribution ladder within, alternatively, ITP or defined contributions entailing that the total contribution amounts to 35-47 percent of fixed salaries. Certain senior officers have an agreement with Peab that their employment ends the month they turn 62 years old. The other senior officers have an agreement that their employment ends the month they turn 65 years old.
Notice on the part of Peab is twelve months with a reduction for any salary from a new employer combined with severance pay consisting of six-twelve months salary. Notice on the part of the other senior officers is six months combined with severance pay consisting of six months salary.