According to the Code, the members of the Remuneration Committee shall be independent in relation to the Company and the senior executives. The board of directors’ Remuneration Committee continuously evaluates the remuneration to senior executives in view of current market conditions.

The Remuneration Committee currently consists of three members: Dennis Stripe, Christian Krüeger, Saied Esmaeilzadeh, which are all considered to be independent in relation to the Company and the senior executives.

The Remuneration Committee’s main tasks are to (a) prepare the board of directors’ decisions on issues relating to compensation and other employment terms for the senior executives, (b) monitor and to evaluate current remuneration structures, remuneration levels and programs for variable remuneration to the senior executives and (c) to monitor and evaluate the outcome of variable compensation schemes and the Company’s compliance with remuneration guidelines adopted by the general meeting. During 2016, the Committee held three meetings.