Share Option Incentive Scheme

The Board of Directors has today awarded a total of 6.045.000 share options to 17 individuals under this authorization.

Main conditions of  options awarded are; Right to exercise option after 2 years from todays date. Exercising of such right only after 3 years from todays date.  Option lapses after 4 years from todays date unless extended by the board. Strike price  NOK 1,40.

Primary insiders awarded options under this scheme are:
CEO Terje P. Tellefsen 970.000 options. In addition Mr Tellefsen controls 5.175.000 shares in the Company.
CFO Ivar H. Halvorsen 600.000 options. In addition, Mr Halvorsen controls 3.155.000 shares in the Company,
Advisor Technical and Contracts Odd W. Werner 200.000 options. In addition, Mr Werner controls 346.004 shares in the Company.
Finance Manager Trine L. Einerkjær 300.000 options. In addition Ms Einerkjær controls 2000 shares in the Company.
Board Member/Sub Committee Member Alex Vicefield 500.000 options.