Board of Directors

The current board but one member was elected at the annual general meeting 2009 and the term expires at the ordinary general meeting in 2011. Mr. Frankplads was elected at the annual general meeting 2010 for a term of two years.

There are no family relationships among the board members, management or key employees. There is no arrangement or understanding with major shareholders, customers, suppliers or others, pursuant to which members of the board or management was selected.

The board has held 14 meetings, of which four were telephone conferences, in the period between the annual general meeting 2010 and 14 April 2011.

Morten Opstad, chairman

Mr. Opstad has served as chairman of the Board in IDEX since March 1997. Mr. Opstad is a partner and chairman of the board in Advokatfirma Ræder DA in Oslo. He has rendered legal assistance with respect to establishing and organising several technology and innovation companies. His directorships during the last five years include current board positions in the Thin Film Electronics ASA (chairman), Total Sports Online AS (dissolved) (chairman), Glommen Eiendom AS and K-Konsult AS; and former directorships in Chaos AS, Fileflow Technologies AS, Rosa Media ASA and A. Sundvall AS. Mr. Opstad was born in 1953 and is a Norwegian citizen. He resides and works in Oslo. Mr. Opstad attended all board meetings in the period.

Jon Ola Frankplads, board member

Mr. Frankplads was elected to the board of IDEX in 2010. He is independent of the company's executive management, material business contacts and the company’s larger shareholders. Mr. Frankplads has a Master's degree in business administration. He is a self-employed person, providing executive and managerial services in the fields of marketing, finance, strategy, motivation and general management. Earlier, he has been general manager of a pharmaceutical company, a computer company, a consulting company and venture capital company. Mr. Frankplads has experience from several early-stage companies. He is currently chairman of the following companies: Nordic Seafarms AS which trades are reported at the NOTC, G&T.Septech AS, Odin Invest AS, Activ Invest AS, Elma AS and Teknolab AS. Formerly, he has been board member of, among others, Norsk Gallupinstitutt AS, Robotteknikk AS, Separtech AS, AG Design AS, Byggutvikling AS, Næringseiendom AS, Midtoddveien 14 AS, Mercurus AS and Finansinkasso AS. Mr. Frankplads was born in 1945. He is a Norwegian citizen and resides in Asker. Mr. Frankplads attended all board meetings in the period.

Hanne Høvding, board member

Ms. Høvding has served on the board of IDEX since 2007. She is independent of the company's executive management, material business contacts and the company’s larger shareholders. Ms. Høvding has a Bachelor’s Degree from the Norwegian School of Management. In her professional career Ms. Høvding has held several management positions within personnel administration, finance, credit card administration and debt collection. She has served as chairman of the board of Cama Invest AS since 2005. Ms. Høvding was born in 1954. She is a Norwegian citizen and resides and works in Oslo. Ms. Høvding attended 11 board meetings in the period.

Joan Kristin Frost Urstad, board member

Ms. Frost Urstad has served on the board of IDEX since 2007. She is independent of the company's executive management, material business contacts and the company’s larger shareholders. Ms. Frost Urstad has a BSc Honors in Chemistry and an MA in Information Technology Management from The University of Sheffield. Ms. Frost Urstad has had a career in the process and electronics industries, mainly in senior project management, where she has focused on Norwegian and international projects that cover activities within product development and industrial investment projects including R&D, sourcing, manufacturing, supply chain management and risk management. Ms. Frost Urstad works as a consultant, operating her own company Frost Urstad AS. Other board positions during the last five years include her current position as chairman of the board in Frost Produkt AS. She was born in 1943 and is a Norwegian citizen. Ms. Urstad resides in Oslo and works on project basis domestically and abroad. Ms. Urstad attended all board meetings in the period.

Harald Voigt, board member

Mr. Voigt has served on the board of IDEX since December 2007. He is independent of the company's executive management, material business contacts and the company’s larger shareholders. Mr. Voigt has a Master’s degree from the Norwegian School of Economics and Business Administration. He has a career in financial engineering, as a consultant within the offshore and maritime industry, and with project finance and syndication in financial institutions. During the last 20 years he has been a partner in Alliance Prosjekt AS, investing in and managing real estate. Mr. Voigt is presently a board member of several real estate companies: Alliance Eiendom AS, Alliance Eiendomsforvaltning AS, Alliance Eiendomsmegling AS, Alliance Prosjekt AS, AS Akersgaten 7 & 9, AV Holding AS (chairman), Grønland 30-34 ANS, Grønland 32 AS, Harald Voigt AS (chairman), HV Holding AS (chairman), Jerikoveien 20 ANS, Jerikoveien AS, Jerikoveien Oslo AS, Kirkeveien 159 AS, KV Holding AS (chairman), Lastcentrum Oslo AS, Maskininvest V ANS, MV Holding AS (chairman), Postterminalen Midtstranda ANS, Profura AS, Tarde AS, Åsenveien SKI ANS, as well as Georex SA, France, a seismic and geophysical company. In the last five years, he has also held board positions in the following companies: Lycée Francais René Cassin d’Oslo, Fleximatic AS (chairman), Grønland 30 AS, Helikopter Invest AS, Norsk Champignon AS, Grorudhagen ANS, Åsenveien 3 A AS, Tangerud Øst I ANS, Luhrtoppen AS, Luhrtoppen 3 AS, Svennerud Næringsbygg ANS, Atoll Eiendom AS and Atoll Eiendom Oslo AS. Mr. Voigt was born in 1956. He is a Norwegian citizen and resides and works on Oslo. Mr. Voigt attended all board meetings in the period.