Gulf Island Fabrication, Inc. 2005 Executive Officer and Director Compensation Schedule

Summary

This document outlines the 2005 compensation plan for named executive officers and directors of Gulf Island Fabrication, Inc. It specifies the annual salaries and bonus percentages for key executives, with bonuses tied to company and subsidiary pre-tax income. It also details the annual and per-meeting fees for non-employee directors, including a higher annual fee for the Chairman of the Audit Committee. The agreement sets clear terms for compensation based on roles and company performance for the year ending December 31, 2005.

EX-10.11 2 a4815797ex1011.txt GULF ISLAND FABRICATION, INC. EXHIBIT 10.11 Exhibit 10.11 GULF ISLAND FABRICATION, INC. NAMED EXECUTIVE OFFICER and DIRECTOR COMPENSATION For the year ended December 31, 2005 Named Executive Officer Compensation - ------------------------------------ The following table lists the salary and bonus to be paid to each of the following executive officers for the year ended December 31, 2005. Annual Compensation Bonus Name and Principal Position Year Salary Percentage - -------------------------------------------------------------------------- Kerry J. Chauvin 2005 $ 385,000 1.02% (a) Chairman of the Board, President and Chief Executive Officer Kirk J. Meche 2005 $ 190,000 0.18% (a) Executive Vice-President-Operations 0.40% (b) President Gulf Island, L.L.C. (fabrication subsidiary) Murphy A. Bourke 2005 $ 190,000 0.43% (a) Executive Vice-President-Marketing Joseph P. Gallagher, III 2005 $ 172,000 0.41% (a) Vice-President-Finance and Chief Financial Officer (a) Each executive officer's bonus will be equal to the specified percentage of the Company's consolidated income before tax and before deduction of the executive bonuses. (b) Mr. Meche will receive an additional bonus equal to the specified percentage of Gulf Island, L.L.C.'s separate income before tax and before deduction of this bonus. Director Compensation - --------------------- In 2005, each non-employee director, except the Chairman of the Audit Committee, will receive an annual fee of $16,500 for his services as a director, a fee of $1,500 for each Board or committee meeting attended in person, and a fee of $1,000 for each board or committee meeting in which the director participates via telephone conference call. The Chairman of the Audit Committee will receive an annual fee of $18,500 with the same attendance fees as the other non-employee directors.