The following proposals were approved by the Icelandair Group Annual
General Meeting 21 May 2010:
a) Annual Accounts (Item 2)
The Board of Directors proposes to the Annual General Meeting that the Annual
Accounts of the company for 2009 will be approved.
b) No dividends payments (Item 3)
The Board of Directors proposes to the Annual General Meeting that no dividends
will be paid in respect of profits for the year 2009.
c) Purchase of treasury shares (Item 4)
The Board of Directors proposes to the Annual General Meeting that the company
will be authorized to purchase up to 10% treasury shares, with reference to
Article 55 in Act No. 2/1995. The shares' purchase price may be up to 20% above
the average sales price of shares on the Stock Exchange in the two weeks
immediately preceding the purchase.
d) Remuneration to Board Members (Item 5)
The Board of Directors proposes to the Annual General Meeting that remuneration
to Board Members will be as follows: Each Board Member will receive ISK 160,000
per month, the Chairman of the Board of Directors will receive ISK 320,000 per
month and Alternate Board Members will receive ISK 80,000 for each meeting
attended.
e) KPMG to be auditors (Item 7)
The Board of Directors proposes to the Annual General Meeting that KPMG hf.
will be the company's auditors.
f) Remuneration Policy (Item 8)
The Board of Directors proposes to the Annual General Meeting that the attached
Remuneration Policy will be approved.
g) New Articles of Association (Item 9)
The Board of Directors proposes to the Annual General Meeting that the attached
Articles of Association will be approved.
In an election to the Board of Directors of Icelandair Group the following were
elected:
Board members
Finnur Reyr Stefánsson, id. 141069-3659
Jón Ármann Guðjónsson, id. 060468-3039
Katrín Olga Jóhannesdóttir, id. 010862-7369
Pétur J Eiríksson, id. 050550-7969
Sigurður Helgason, id. 010546-2069
Alternate board members
Kristín Einarsdóttir, id. 110149-4179
Magnús Magnússon, id.160965-4799
Tómas Kristjánsson, id. 151165-3389
The Board of Directors has met and appointed Sigurdur Helgason Chairman of the
Board and Finnur Reyr Stefánsson, Vice Chairman of the Board.
