11. Remuneration of the Board of Directors
The remuneration of the members of the Board of Directors is determined annually by the General Meeting, on the basis of the Board's responsibility, expertise, time commitment and the complexity of the operations of Marine Farms. As the directors are encouraged to own shares in the Company, consideration should be given in this respect to arrange for members to invest part of their remuneration in such shares at market price.

The remuneration is not linked to the Company's performance. No directors have been granted or will be granted share options and no directors are parts in incentive programmes available for the Executive Management and/or other employees.

As a general rule, no members of the Board of Directors (or companies with which they are associated) shall take on specific assignments for the Company in addition to their appointment as director. If such assignments are made, it shall be disclosed to the full Board and the remuneration shall be approved by the Board. Further, all remuneration paid to each of the directors shall be described in the Annual Report. Such description shall include details of all elements of the remuneration and benefits of each member of the Board, any remuneration paid in addition to normal director's fees included.