12. Remuneration of the Executive Management
The CEO's remuneration shall be determined by a convened meeting of the Board of Directors.

Remuneration for the other members of the Executive Management is determined by the CEO in accordance with guidelines provided by the Board of Directors. The guidelines are annually communicated to the General Meeting and included in the Annual Report together with it detailed information on all elements of the remuneration. The information to the General Meeting shall pay particular attention to any changes made during the last year.

Marine Farms does not have share option schemes or other arrangements to award shares to employees, as other kinds of bonus schemes or incentives are being preferred. Any incentives provided to members of the Executive Management shall be in accordance with the principles set out in the Guidelines for Remuneration of Executive Management.