7.1  Staff costs and remuneration of executive directors 7.2  Share-based payment SHARE OPTION PROGRAMME The Company had an average of 94 (2012: 94) full-time employees during the year. Remuneration of executive directors is  based on a fixed salary, cash bonus pay- ments and non-monetary benefits such as  company car, telephone etc. Furthermore,  share option programmes and incentive  schemes have been established for the executive directors. These programmes and schemes cover a number of years. The  remuneration is specified in section 7.2. Employment contracts for the executive direc- tors contain terms and conditions that are  considered common to executive board mem- bers in Danish listed companies, including  terms of notice and non-competition clauses. Remuneration of the executive directors and  Supervisory Board as well as their holdings  of shares in the Company are specified in  the Management review or section 7 in the  consolidated financial statements. The average share price at the exercise date for share options was DKK 579 (2012: DKK 484). At 31 December 2013 the exercise price for outstanding share options was in the range DKK 203.50 to DKK 573.50  (2012: DKK 203.50 to DKK 566.78). The average remaining contractual life was 4.0 years (2012: 4.4 years). In 2013, a total of 91,000 (2012: 131,500)  share options were granted to 2 employees  (2012: 2). The grant date fair value of these  options totalled DKK 15m (2012: DKK 19m).  The total cost of share-based payment was  DKK 14m (2012: DKK 11m), which is recog- nised in the income statement under staff  costs. Refunds etc. between Carlsberg A/S  and its subsidiaries are recognised directly  in equity. Parent Company SECTION 7: STAFF COSTS AND REMUNERATION 154 Carlsberg Group Annual Report 2013 DKK million 2013 2012 Salaries and other remuneration 68 71 Retirement benefit costs – defined contribution plans 5 6 Share-based payment 16 11 Total 89 88 Staff costs are included in the following items in the income statement Administrative expenses 30 21 Other operating activities, net 59 61 Total 89 82 Number Exercise price Executive  directors Other employees Resigned  employees Total Fixed,  weighted  average Share options  outstanding 31 December 2011 302,112 7,416 78,469 387,997 386.66 Granted 131,500 - - 131,500 444.60 Exercised -13,008 - -6,380 -19,388 235.99 Transferred - -7,416 7,416 - 369.12 Share options  outstanding 31 December 2012 420,604 - 79,505 500,109 407.74 Granted 91,000 - - 91,000 573.50 Exercised -12,388 - -51,632 -64,020 277.22 Share options  outstanding at 31 December 2013 499,216 - 27,873 527,089 452.21 Exercisable at 31 December 2012 199,104 - 78,305 277,409 354.79 Exercised options as  % of share capital 0.01% 0.00% 0.00% 0.01% Exercisable at 31 December 2013 216,716 - 27,873 244,589 383.07 Exercised options as  % of share capital 0.01% 0.00% 0.03% 0.04% Staff costs and  remuneration