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a) Annual Accounts (Item 2)
The Board of Directors proposed to the Annual General Meeting that the Annual Accounts of the Company for 2020 be approved.
b) Dividends payments (Item 2)
The Board of Directors proposed to the Annual General Meeting that no dividends will be paid for the 2020 financial year.
c) Remuneration to Board Members (Item 3)
The Board of Directors proposed to the Annual General Meeting that remuneration to Board Members and Sub-Committee Members shall be the same as they were last year: Each Board Member will receive ISK 330,000 per month, the Chairman will receive ISK 660,000 per month, the Deputy Chairman will receive ISK 495,000 per month, Sub-Committee Members will receive ISK 120,000, the Chairman of the Audit Committee will receive ISK 275,000 per month and the Chairman of the Remuneration Committee will receive ISK 150,000 per month. The Board of Directors will decide on compensation for the members nominated by shareholders in the Nomination Committee. Compensation will be paid on hourly basis.
d) Remuneration Policy (Item 4)
The Board of Directors proposed to the Annual General Meeting that the current Remuneration Policy will be accepted without any changes.
e) Election of the Board of Directors (item 6)
Eight individuals declared candidacy for the board of directors. The following candidates were elected to the Board of Directors:
John F. Thomas
The Board of Directors has held a meeting and elected Úlfar Steindórsson as Chairman of the Board and Svafa Grönfeldt as Deputy Chairman.
f) Auditors (Item 7)
The Board of Directors proposes to the Annual General Meeting that KPMG hf. will be the Company’s auditors.
g) Election of two members to the Nomination Committee
As only two declared candidacy, the following candidates were elected to the Nomination Committee without ballot at the meeting:
Purchase of treasury shares (Item 9)
The Board of Directors of Icelandair Group proposed to the Annual General Meeting that the Company will be authorized to purchase in the next 18 months up to 10% of its own shares in accordance with Article 55 of the Icelandic Companies Act No 2/1995 in order to establish a market making agreement for issued shares in the Company or to set up a formal buyback program. It is not allowed to purchase such shares at a higher rate than the last spot market rate or the highest bid in the trading system of a regulated market where the shares are traded. Such purchases are however authorized if they are executed by a market maker in accordance with Article 116 of the Act on Securities Trading or in accordance with Item 1, Paragraph 3, Article 115, and Paragraph 2, Article 119 of the Act on Securities Transactions and regulations implemented on the basis of Articles 118 and 131 of the same Act.
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