Employment agreements, between Reykjavik Energy Group and management or employees, do not include provisions for direct correlation between salaries and specific yardsticks in operations, financial or otherwise. It is the stance of Reykjavik Energy Group that such arrangements could possibly favour short term objectives, while jeopardising long term ones, but the company's beacon is always on long term objectives.

The ownership strategy of Reykjavik Energy Group stipulates that management compensation should be on par with other comparable businesses, but take into consideration the fact that the company is in public ownership. Compensation of management and other employees at Reykjavik Energy Group should be competitive, but not leading.

Compensation for Board members, the CEO, and other top executives, is specified in Reykjavik Energy Group's Consolidated Financial Statements.]