Annual Report 2010 - SBM Offshore

Remuneration Key management personnel and
Supervisory Board of the Company
The remuneration of key management personnel of the
Company, including pension costs and performance
related bonuses, amounted to US$ 12.2 million (2009:
US$ 12.2 million).
The performance-related part of the remuneration,
comprising both STI and LTI components, equals 47%
(2009: 37%).
The total remuneration and associated costs of the
Managing Directors and other key management personnel
(non-statutory directors and management of the
main subsidiaries) can be specified as follows:
in thousands of US$
Salary,
burden and
emoluments
Bonus Pension
costs
IFRS 2
costs of
share based
payments
Financial Review / Financial Statements 2010
2010 2009
Total Total
A.J. Mace 788 473 88 193 1,542 2,642
M.A.S. Miles 659 382 50 138 1,229 1,139
D. Keller (to 15 May 2008) - - - (221) (221) (141)
Other key management
personnel 4,088 2,544 773 2,264 9,669 8,554
Total remuneration 5,535 3,399 911 2,374 12,219 12,194
The bonus is performance related in respect of the
previous year, based on Economic Profit. There are no
guarantees or obligations towards or on behalf of the
Board of Management.
Share Option Plan
The Share Option Plan, which was terminated in
2008, has been replaced by Performance Shares and
Restricted Shares schemes. Options were granted at
market value, a three year vesting period, and a subsequent
two year exercise period. Currently two years
of vested and exercisable options are outstanding, and
one year of option grants with vesting in 2011.
SBM Offshore – Annual Report 2010 135