Iceland is a member of the EEA.
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freedom of movement in the EU 
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info on iceland:
http://eng.domsmalaraduneyti.is/laws-and-regulations/nr/860
and
http://www.utl.is/english/residence-permits/eea-members/
According to this document http://evropa.utanrikisraduneyti.is/media/esb_svor/02%20-%20Free%20movement%20of%20workers/Annex%202-2%20Table%20of%20concordance%202004.pdf several parts of their implementation seem to be under revision. This is an annex to http://evropa.utanrikisraduneyti.is/media/esb_svor/02%20-%20Free%20movement%20of%20workers/Ch.%202%20-%20Free%20movement%20of%20workers%20-%20Final.pdf . It is not clear when this document was prepared but it mentions an exchange rate from Sep 2009.