(ii) Payment of salaries to the key executives for work performed for the companies within the Group, stock options and ownership in the Company are specified as follows: All number of shares are in '000 Board of Directors: Salaries Stock options Put options Shares owned Sindri Sindrason,Chairman 0 0 0 32.222 Magnus Þorsteinsson,former Chairman 44 0 0 622.725 Eggert Magnusson 8 0 0 2.983 Gunnar M. Bjorg 15 0 0 73.014 Thor Kristjansson 0 0 0 13.136 CEO: Baldur Gudnason 644 9.000 67.568 67.568 Other members of key management(8) 1.704 14.550 0 28.303 The shares owned by Board members and top management are either owned by them personally or through holding companies. Baldur Gudnason has a put option of the shares he ownes originally for three years or until 24.4.2010 at the share price 37,76 and the option can be realised at any time during that period. The Company has made an agreement with Baldur that he will work for the company no less than next three years. At a board meeting held 20 December 2007, Magnus Thorsteinsson resigned as Chairman and as a member of the board and Sindri Sindrason was elected instead as a Chairman. A formal stock option plan was issued on 6th of March 2007 for the aforementioned stock options.
Additional information to note 9 in the financials statement for 2007
| Source: Hf. Eimskipafélag Íslands