SBM Offshore Annual Report 2011 - PDF

Remuneration
Supervisory Board
The following fee level and structure was proposed to and approved by the EGM on July 2010, effective 1 July
2010:
Approved At
EGM
Chairman Supervisory Board € 90,000
Vice-chairman Supervisory Board € 80,000
Member Supervisory Board € 75,000
Chairman Audit Committee € 10,000
Member Audit Committee € 8,000
Chairman Appointment & Remuneration Committee Dealing with Appointment matters € 9,000
Chairman Appointment & Remuneration Committee Dealing with Remuneration matters € 9,000
Member Appointment & Remuneration Committee € 8,000
Chairman Technical & Commercial Committee € 10,000
Member Technical & Commercial Committee € 8,000
The Supervisory Board and sub-committee fee levels will be reviewed every second year. The actual amount of
fees paid to each member of the Supervisory Board is mentioned in note 4 to the consolidated financial
statementsof this Annual Report.
Management Board
In 2010, the A&RC conducted a detailed review of the Remuneration Policy 2008 to ensure continued alignment
with Company’s strategic priorities, remuneration principles, external market developments and best practices.
Based on the outcome of this evaluation, a new Remuneration Policy (‘RP2011’) was designed. The Supervisory
Board, acting on the advice of the A&RC, proposed to adopt the RP2011 for the Board of Management. At the
Annual General Meeting (‘AGM’) of Shareholders dated 5 May 2011 the RP 2011 was adopted. RP 2011 applies
to the Board of Management which currently consists of the Management Board, being the CEO and the CFO as
statutory directors, and of the COO and CTO as non-statutory directors. The key points of the new RP 2011 are
set out in Section 3.
This is a customized selection from the SBM Offshore N.V. Annual Report 2011
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