This excerpt taken from the NDAQ 8-K filed Feb 20, 2008.
Severance pay and other benefits
Severance Terms/Period of Notice. The period of notice that applies between OMX and the President and CEO is 12 months from the companys side and six months from the employees side. In the event of a company initiative to terminate the employment contract of the President and CEO, remuneration will be paid to the President and CEO corresponding to the fixed salary and other benefits (occupational pension and insurance including health insurance) during the period of notice. In addition to this, the President and CEO will receive a severance payment of six months fixed salary. Other members of the Executive Management Team have a period of notice of 12 months from the companys side and six months from the employees side. The President and CEO and other senior executives have a non-competition clause of 12 months. A penalty is included in the clause.
Other Benefits. In addition to the occupational pension premiums detailed above, OMX also pays for long-term disability insurance, occupational group life insurance (TGL) and workers compensation insurance (TFA). Employees may also complement their insurance coverage through OMXs optional group insurance. Employees in Finland and Denmark have equivalent benefits that are stipulated in the collective agreement for the financial sector. Also, the Executive Management Team is entitled to health insurance.