Income Statement Infratek ASA
NOTE 3
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SALARIES AND OTHER PERSONELL EXPENSES
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Spesification of personell expenses
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Amounts in thousand NOK
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2011
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2010
after
restatement
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2010
before restatement
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Salaries and holiday pay
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(13 565)
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(12 439)
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(12 439)
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Social security contribution
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(2 307)
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(2 226)
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(2 226)
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Net pension expenses
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(1 040)
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(7 455)
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(6 315)
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Other personnel expenses
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(2 693)
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(3 013)
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(3 013)
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Total personnel expenses
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(19 605)
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(25 133)
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(23 993)
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As of 31 December 2011, Infratek ASA had 17 employees.
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Specification of remuneration
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Amounts in thousand NOK
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2011
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2010
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Salary and other remuneration to general manager
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3 506
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3 179
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Pension costs
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185
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144
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Other remunerations
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50
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47
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Board remuneration
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1 383
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1 320
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Total remuneration to senior executives
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5 124
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4 690
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Infratek ASA's general manager has a performance-based bonus agreement, for further specification about this, see note 21 to the Group accounts under information about CEO. | |||
Loan to general manager
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Infratek has extended an interest-free loan to the general manager as part of a car expenses reimbursement program. The loan is written down over a period of 10 years; security is posted for the loan. As of 31 December 2011, the balance on the loan amounted to NOK 308.333. The annual amount written down and the interest-free loan component are reported to the tax authorities as a salary benefit. In case of resignation, any outstanding loans must be paid before the date of resignation.
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Specification of auditor’s fees
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Amounts in thousand NOK
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2011
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2010
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Fee statutory audit
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(454)
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(433)
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Fee assurance services
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-
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-
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Fee tax advisory services
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-
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-
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Fee other non-audit services
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(63)
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(125)
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Total auditor fee
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(517)
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(558)
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