NOTE 8 – PAYROLL EXPENSES

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A B C D E F G H
NOTE 8 – PAYROLL EXPENSES
2015 2014      
Personnel expenses      
Salary 30 305 29 517      
Employers tax 5 104 4 880      
Pension cost 3 364 3 677      
Other benefits 3 034 2 348      
Total personnel expenses 41 808 40 422      
       
Number of employees 34 34      
               
Remuneration (in NOK) 2015        
    Director's fees Salary Bonuses Pension costs Other remuneration Total remuneration
MANAGERS
Edvin Endresen, CEO 2 387 035 195 833 282 019 132 587 2 997 474
Tor Øyvind Ask, Dir. Marine Operations 2 000 095 145 422 248 674 151 622 2 545 813
 
BOARD OF DIRECTORS
Michael Steensland Brun, Chairman 150 000 0 0 0 0 150 000
Alf Andersen, Board member 125 000 0 0 0 0 125 000
Wenche Rettedal, Board member 125 000 0 0 0 0 125 000
Ellen Solstad, Board member 125 000 0 0 0 0 125 000
Hans Petter Aas, Board member 125 000 0 0 0 0 125 000
Total remuneration 650 000 4 387 130 341 255 530 693 284 209 6 193 287
               
Managing Director has an agreement of one year pay after termination of employment, and an additional contribution based pension of 15% of
salary above 12G. The company's senior executives are employed on a fixed salary. No share-based payments or fixed bonuses are related to the salary agreements. The Company has not granted loans or guarantees to any of its employees.
All employees got paid a bonus in 2015 equal to one months salary. Total bonus of 2015 amounted to NOK 2 195 387,-.
               
AUDITOR              
The fee to the auditors for 2015 amounts to NOK 278 601, whereof NOK 271 951 relates to audit required by law and NOK 6 650 for tax advisory. The amounts are reported exclusive of VAT.
               
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