Severance pay

The contract between the company and the CEO requires both parties to provide 6 months’ notice of resignation or termination of employment. Upon termination by the company, before the age of 60, the CEO shall be entitled to severance pay equal to his monthly base salary for a period of 24 months. Other income shall be deducted from the severance amount. If the CEO resigns his position, he shall not be entitled to severance pay. However, in the event of a change-of-control in TeliaSonera, the CEO is entitled to severance pay if he resigns within one month from the change of ownership. If the CEO resigns for this reason before September 3, 2009, he is also entitled to a one year contribution of SEK 6,000,000 to the pension plan.

The contract between the company and the EVP as well as other members of the Leadership Team requires a period of notice of 6 months from the employee and 12 months from the company with respect to resignation or termination of employment. Upon termination by the company, the employee shall be entitled to severance pay equal to the monthly base salary for a period of 12 months. Other income shall be deducted against the salary during the notice period and against the severance amount. If the employee resigns his or her position, he or she shall not be entitled to severance pay.